LeaseCrunch review & alternatives [2025]

Lease accounting is complex, especially since the introduction of Accounting Standard Codification (ASC) 842. This current standard requires enhanced transparency in financial reporting. 

However, even with experienced accountants, many organizations still struggle with compliance, exposing them to potential Securities and Exchange Commission (SEC) scrutiny and increased audit costs. 

Fortunately, lease accounting software can help automate and streamline critical aspects of lease accounting and ensure compliance without breaking the bank. Leasecrunch is a well known option in the industry, but is it the best solution for your team?

In this LeaseCrunch review, we will explore the pros and cons and features  of LeaseCrunch. We’ll also recommend some of the best alternatives to LeaseCrunch for anyone considering a switch.

What is LeaseCrunch?

LeaseCrunch is a cloud-based lease accounting software for certified public accountants (CPAs) and fractional chief financial officers (CFOs). It offers policy templates to assist with lease accounting implementation, along with live support, training, and webinars. 

LeaseCrunch also supports compliance with ASC 842, International Financial Reporting Standards (IFRS) 16, Governmental Accounting Standards Board (GASB) Statement No. 87, and GASB 96, with step-by-step wizards for setup. 

However, its pricing is based on the number of leases, and users may incur additional fees for each lease beyond the initial subscription limit.

LeaseCrunch review 

LeaseCrunch is a lease management software geared toward mid-sized and large companies. It offers features that allow CPA firms to collaborate with clients by inviting them to enter their lease information directly in LeaseCrunch, so both the client and the firm can access and generate reports on the platform. But despite these features, users still report challenges. 

According to independent reviews on G2, some users find the amortization tables overwhelming with too many columns, and some also experience issues with incorrect schedules for their leases. Its pricing is also lease-based, so it’s more expensive than alternative solutions, and users often prefer a flat fee.

LeaseCrunch features

• SOC 1 Type II and SOC 2 Type II reports.
• Footnote disclosures and reports for financial statements.
• Step-by-step wizards for lease setup.
• Lease policy templates for standardization.
• Live and on-demand training.

LeaseCrunch pros and cons

Here are some pros and cons of the LeaseCrunch platform to help you decide if it’s right for your team.

Pros

• Cloud-based lease reporting for real-time updates
• Collaborative user access for firms and clients
• Compliance with ASC 842, IFRS 16, and GASB 87 and 96

Cons

• They only have a solution for lease accounting, while other platforms like Netgain offer various accounting modules. 
• LeaseCrunch does not integrate directly into any ERP. Netgain, on the other hand, has a NetSuite-native version as well as a direct API integration with QBO.
• It has an expensive subscription model, especially for large lease portfolios.
• Users may incur additional fees per lease beyond the initial subscription.
• The setup is time-consuming.

LeaseCrunch alternatives  

If you decide that LeaseCrunch isn’t the best for your lease management needs, here are some of the top alternatives to LeaseCrunch.

1. NetLease by Netgain

NetLease is an ASC 842-compliant lease accounting software solution that offers a centralized platform for simplifying complex lease accounting processes. It also provides compliance with IFRS 16 as well as GASB 87 and 96, ensuring accurate and standardized financial reporting. 

NetLease enhances accuracy by minimizing lease accounting errors, helping organizations stay on track with regulatory requirements. 

For improved transparency and visibility, NetLease centralizes all lease data in a unified platform, providing real-time insights into lease obligations and financial impacts. Additionally, it seamlessly integrates with various ERPs, including QuickBooks, allowing for smooth data flow and consistent reporting. NetLease also offers a version fully embedded in Netsuite.

By automating repetitive lease management tasks such as data entry, reporting, and compliance tracking, NetLease frees up your team to focus on more strategic initiatives.

Features:

NetLease is designed to work smoothly with your existing systems, and there’s also a fully integrated NetSuite-native version—but that’s not all NetLease offers.

The platform offers:

• Single-click journal entries: NetLease streamlines lease management by enabling single-click journal entries, reducing errors and saving your team time. This feature eliminates double-checking, allowing your team to focus on more important tasks.
• Audit-ready disclosures: NetLease simplifies reporting by generating audit-ready disclosures. It also automates disclosure tables for different accounting standards and offers comprehensive tools that make compliance easy.
• Automated ASC 842 compliance: NetLease ensures compliance with ASC 842, GASB 87, and 96. It also supports IFRS 16, simplifying right-of-use asset adjustments with automatic amortization schedules and ensuring accurate depreciation and liability tracking.
• Fully embedded in NetSuite: NetLease is fully embedded in NetSuite so users don’t need third-party software to integrate their financial operations with their ERP systems. There’s also a version that is compatible with any ERP for users who don’t use NetSuite applications.
• Multi-book and foreign exchange functionality: NetLease automates multi-book and foreign exchange processes within NetSuite, allowing for precise, compliant reporting across multiple books and currencies, all in real time, without the need for manual intervention.
• Customizable workflows: NetLease allows users to customize workflows to fit with business processes and stay in control of every step of the process.
• Fast set-up and scalability: NetLease supports intuitive CSV imports for fast and easy set-up for users who are transitioning from manual lease management. It also has room for scalability to accommodate business expansion.

Pros:

• Users can manually add new leases to the platform or save time with NetLease’s AI-lease abstraction.
• NetLease users can export journal entries from NetLease to a CSV file that they can easily upload to their ERP system.
• For QuickBooks users, NetLease offers a built-in application programming interface (API) that seamlessly connects your activities directly to QuickBooks.
• Users can access and export all disclosure reports necessary for ASC 842, IFRS 16, and GASB 87 & 96 compliance.
• NetLease has a free version for managing up to 10 leases, but with some limitations.

Cons: 

• NetLease is built into Netsuite, but there’s a version for NetLease that’s compatible with other ERPs with a few limitations.

Pricing:

NetLease has fixed prices for its Standalone lease accounting solution:

• Essential: Free
• Pro: $888/ year
• Enterprise customers have to request a custom quote

However, to have NetLease fully integrated into NetSuite, custom pricing is required.

Ready to learn why users love NetLease? Get in touch to schedule a demo and see it in action. 

2. Finquery

FinQuery, formerly LeaseQuery, is a cloud-based lease accounting software that offers regulatory compliance to various lease-related standards including  ASC 842, IFRS 16, GASB 87, GASB 96, and Statement of Federal Financial Accounting Standards (SFFAS) 54. 

Its features include  LeaseGuru, a feature for managing small lease portfolios, and it works best for generating amortization schedules, journal entries, and disclosures. 

Features:

• LeaseGuru for managing small lease portfolios
• Integration with ERP for automating journal entries
• Automated accounting tools for compliance with lease standards
• LeaseQuery reporting for financial insights on leases
• Lease database for lease tracking

Pros:

• FinQuery users can update exchange rates for translation to reporting currency.
• FinQuery gives external auditors read-only access, ensuring secure review without data changes.
• It has support for small lease portfolios.

Cons: 

There are some cons to using FinQuery according to users:

• Updating leases and lease terms before their expiration is difficult.
• The Excel template on FinQuery has too many columns, which makes it hard to use.
• The software is more adapted to US GAAP users than IFRS users.

Pricing: FinQuery offers custom quotes on request.

3. Visual Lease 

Visual Lease is a lease management software that creates a central platform for managing lease portfolios in compliance with lease accounting standards. Like other lease accounting software, Visual Lease has features for compliance with lease standards including ASC 842, IFRS 16, and GASB 87/96. Amortization schedules, impairment, and lease modifications are automated with Visual Lease.

Features:

• Centralized lease management for access to lease information like obligations, cash flows, and key dates
• Compliance with key standards such as ASC 842, IFRS 16, and GASB 87 and 96
• Automated lease accounting for amortization schedules, impairment, and lease modifications
• Date management for automated notifications for critical lease dates, like renewals and expirations
• Audit-ready financial disclosures
• Robust reporting tools with a library of templates and customizable reports

Pros:

• Visual Lease supports adherence to major lease accounting standards.
• It reduces accounting workloads with automated lease accounting.
• Users enjoy customizable reports and fields for tailored data insight.
• Visual Lease gives users access to streamlined data import, mass updates, and automation tools.

Cons: 

Despite the benefits of Visual Lease, users still experience some challenges with the platform according to G2 reviews:

• Users report issues with complex lease amendments and corrections.
• The platform has limited integration features for specific ERPs, like Workday.
• Visual Lease lacks deletion log tracking for removed documents.
• It has a steep learning curve for new users.

Pricing: Visual Lease offers custom quotes on request.

4. Leasecake 

Leasecake is a lease accounting and location management platform designed for multi-unit operators in the restaurant and retail industries. It offers tools to track lease obligations, manage critical dates, and negotiate lease terms. The platform includes AI-driven automation for lease tasks and features lease abstraction for streamlined management.

Features:

• Lease management feature for tracking lease terms and obligations
• Lease accounting tools to support compliance with accounting standards
• AI tools for lease tracking and management
• Customizable reports for insights and decision-making
• Lease abstraction for simplifying complex lease agreements

Pros:

• User-friendly design tailored for restaurant and retail businesses
• Tracks critical dates to avoid missed obligations
• Supports lease negotiations and terms
• AI-driven tools for automation
• Centralized platform for multi-unit operators

Cons: 

While Leasecake offers some useful features, the platform could improve in certain areas according to user reviews on G2:

• Changes are not always synchronized between the browser and mobile app.
• It lacks a one-click bulk download option for backing up files.
• There’s no feature for setting up recurring reminders.
• Leasecake is a good solution for restaurant and retail businesses, but it may not be a fit for you if you’re in a different industry.
• Unlike NetLease, Leasecake has no integration with ERP systems like NetSuite, so users may need to get separate software for some tasks.

Pricing: 

All Leasecake plans are billed annually:

• Start: $8/location/mo
• Elevate: $12/location/mo
• Grow: $18/location/mo

More about LeaseCrunch

If you still have questions about LeaseCrunch and the best alternatives available, we answer those questions here.

What does LeaseCrunch do?

LeaseCrunch is a lease management software that automates the accounting and management of leases based on regulatory standards and generates lease reports based on user requirements.

What is lease accounting software?

Lease accounting software is specialized software for managing leases. The software automates lease calculations from initial recognition to amortizations. The best solutions offer dashboards where users can visualize their entire lease portfolio. 

Some of the best lease accounting software, like NetLease by Netgain, have AI capabilities that automate tasks and enhance decision-making processes.

What is the best LeaseCrunch alternative?

The best LeaseCrunch alternative is NetLease. NetLease is a robust lease management software that not only streamlines lease accounting processes but also ensures regulatory compliance. In addition to being a comprehensive solution, NetLease also offers a higher value for money and a better pricing structure than many lease accounting alternatives, making it a top choice for lease accounting.

Try the best lease accounting software 

Lease accounting software not only saves a lot of time but also ensures accuracy and compliance with regulatory standards and frameworks. However, you need to make sure that the lease accounting software you choose aligns with your business needs and has robust features to efficiently manage complex leases. 

NetLease is IFRS, US-GAAP, and GASB compliant with automation features for easy report generation and lease modification. NetLease also supports lease abstraction powered by AI and offers access to unlimited users, so your entire team can collaborate seamlessly. It has a free tier, so you don’t need a financial commitment to get started with NetLease.

Not sure which lease accounting is right for you? Get in touch with our team to get a personalized demo of NetLease.