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- FinQuery Introduces Automated Catch-Up for Lease Accounting
FinQuery Introduces Automated Catch-Up for Lease Accounting
Slice of Finance Team
16 Jun
Key Highlights:
Revolutionizes lease accounting with automated catch-up functionality.
Efficiently updates missed leases and lease changes.
Simplifies compliance with ASC 842, IFRS 16, GASB 87, and GASB 96.
Generates cumulative catch-up journal entries automatically.
Ensures accurate, current, and compliant financial records.
Source (Business Wire)
Notable Quote
“With the introduction of catch-up lease actions, the task of making changes after the books are closed is solved. Our new catch-up functionality transforms the daunting task of lease accounting into a manageable, efficient, and precise process, reflecting our commitment to simplifying the complex with technology."
Our Take:
FinQuery's introduction of the automated catch-up functionality is a significant advancement in lease accounting, addressing a common pain point for accountants. By automating the process of updating missed leases and changes, FinQuery not only enhances efficiency but also ensures compliance and accuracy in financial reporting. This innovation demonstrates FinQuery's dedication to leveraging technology to simplify complex accounting tasks, making it an invaluable tool for CFOs and accounting professionals. The quick adoption of this feature by customers highlights its practicality and effectiveness in real-world applications.