Last updated: October 2026
Lease accounting software helps CPA firms maintain ASC 842, GASB 87/96, FRS 102, and IFRS 16 compliance for their clients without relying on error-prone spreadsheets. With the standard in effect for all entities, the decision facing firms is whether to adopt lease accounting software and which vendor delivers the accuracy, flexibility, and support a growing client base demands.
Since the new lease accounting standards took effect for all entities, spreadsheets have become quite risky for firms. Manual tracking means managing years of amortization schedules, modifications, and remeasurements by hand. For CPA firms advising clients on the standard, choosing a platform that keeps ongoing compliance as your client base grows is crucial.
Consider the following areas when comparing lease accounting software.
The table below compares four commonly evaluated lease accounting software platforms across the criteria this guide covers. Pricing and feature details for competitors reflect publicly available vendor and third-party review information as of 2026.
| Criteria | Crunchafi | FinQuery (LeaseQuery) | Visual Lease | Trullion |
|---|---|---|---|---|
| Standards Coverage | ASC 842, FRS 102, GASB 87, GASB 94, GASB 96, IFRS 16 | ASC 842, FRS 102, GASB 87, GASB 96, IFRS 16, SFFAS 54 | ASC 842, GASB 87, GASB 96, IFRS 16; unable to confirm FRS 102 | ASC 842, FRS 102, GASB 87, GASB 96, IFRS 16 |
| Flexibility & Scalability | Used by 750+ CPA firms and 30,000+ organizations, with no lease minimums and support for portfolios from a single lease to thousands | Marketed for varying lease portfolio sizes, with minimum commitments of 40-50 leases. 250+ partners and 8,700+ organizations | Positioned for enterprise real estate and equipment portfolios; markets 1,500+ organizations | Positioned for mid-market and enterprise finance and audit teams |
| Accuracy & Assurance | Built by CPAs, for CPAs, with standardized calculation methodology and annual SOC 1 Type II and SOC 2 Type II reports | Publishes SOC 1 Type II reports, issued biannually per vendor claims | Publishes SOC 1 Type II and SOC 2 Type II reports annually | Publishes SOC 1 and SOC 2 reports, audited by a Big Four firm per vendor claims |
| Audits & Reviews | Built-in audit trails; white-glove support during audit season | Audit-ready disclosures cited as a core feature | Markets audit-ready reporting and controls | Markets audit workflow and data-matching tools built for auditor use |
| Training & Support | 1 to 2 business days from contract signing to implementation; white-glove customer support included with an average response time of ~4.5 hours | G2 users report an average implementation time of roughly 3 months and an average response time of 22 hours | G2 users report an average implementation time of roughly 4 months | G2 users report an average implementation time of roughly 2 months |
| Firm & Client Collaboration | Dual access for firms and their clients within the same platform, with role-based permissions | Not publicly detailed at the level of firm/client dual access | Not publicly detailed at the level of firm/client dual access | Not publicly detailed at the level of firm/client dual access |
| Pricing | Per-lease pricing with no minimums, setup, training, or implementation fees | Starts at $750 per year with a 40-lease minimum for direct use, 50-lease minimum for a firm partnership, and an additional implementation fee | Quote-based; not publicly listed | Typically 3-year term, one-time onboarding fee that is ~20% of the year-1 license, no hard lease minimum, and a 6 to 8 week onboarding period |
Sourcing note: Competitor data is drawn from vendor websites, G2, and Crunchafi internal research as of 2026. Implementation-time figures for FinQuery, Visual Lease, and Trullion are G2 user-reported averages and research conducted by Crunchafi.
Compliance is still the most important factor when evaluating software, but by 2027 it's table stakes. Depending on your client mix, you may need to support FASB (ASC 842), IASB (IFRS 16), FRC (FRS 102) standards, plus GASB 87/96 if you serve government entities.
Look for a platform that can:
Your firm's client base is not one-size-fits-all, and your software shouldn't force it to be. As you evaluate flexibility and scalability, ask:
Accurately entering existing lease data is one of the most consequential steps in adopting new software, since an error at data entry compounds across every future amortization period. Look for:
One of the clearest advantages of software over spreadsheets is a simpler audit and review process. Confirm the platform includes built-in audit trails and reporting options that let you trace every input back to its source. If your firm provides hosting services as part of an engagement, also confirm the system complies with AICPA guidelines so your independence as a CPA firm isn't put at risk.
Implementation and ongoing support determine how quickly a new client engagement can start generating value, which matters directly to firm profitability. Before signing, ask:
As a firm working with clients on ASC 842 compliance, you need software that supports collaboration. Confirm whether single sign-on is available across clients, and whether your firm and each client can access the same lease data without duplicate entry. On the security side, don't assume every vendor's protocols are equivalent. Ask directly about data security practices and what standards the vendor's infrastructure is held to.
Pricing is often the deciding factor, but it's also where lease accounting vendors are least transparent. Most vendors in this category price on a custom quote basis, which means you can't build a budget estimate without a sales conversation. When you do get a quote, ask:
Crunchafi's Lease Accounting software is priced per lease, with no minimums and no setup, training, or implementation fees, which makes budgeting for a new client engagement more predictable than the quote-only model common across the category.
Lease accounting software is a platform that automates the calculations, journal entries, and disclosures required to comply with lease accounting standards like ASC 842, IFRS 16, and GASB 87/96.
Software is not legally required, but ASC 842's disclosure and remeasurement requirements make manual spreadsheet tracking risky at scale. Software helps firms maintain compliance.
Pricing varies by vendor and is usually structured per lease, per user, or as a custom quote. Most vendors in this category do not publish pricing publicly.
Implementation timelines range from a few business days to several months depending on the vendor and the complexity of the lease portfolio being migrated.
Yes. Most established lease accounting platforms, including Crunchafi, support multiple standards, which matters for CPA firms whose client base spans private companies and government entities.
This depends on the vendor. Look specifically for dual-access capability that lets your firm and your client work in the same system without re-entering data, rather than assuming every platform supports this by default.
