Lucernex Lease Administration & Accounting Reviews

26 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow noopener noreferrer'>trScore algorithm: Learn more.</a>
Score 7.8 out of 100

Do you work for this company? Learn how we help vendors

Overall Rating

Reviewer's Company Size

Last Updated

By Topic

Industry

Department

Experience

Job Type

Role

Filtered By:

Reviews (1-19 of 19)

Companies can't remove reviews or game the system. Here's why.
September 12, 2018
Bryan Kelly, CPA, CFE, MBA | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

Initially, we are using Lucernex to implement the new ASC 842 accounting standard. Once it is up and running, we will be utilizing it as a lease portfolio oversight tool for management. Our organization had a very decentralized lease administration process prior to implementing the software. Once it is up and running, we will have a much improved lease administration process.
Read Bryan Kelly, CPA, CFE, MBA's full review
July 09, 2018
Kimberly F Williams, Esq. | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

We use Lucernex in multiple departments within our organization - Legal, Real Estate, Finance, Tax, AP, Construction, Operations, and Procurement. We use the product to manage the negotiation of store sites and their leases, the building of the stores, and the management of the leases - from payment of rent to the accounting for the leases. We are also now processing our equipment leases out of the product to comply with the new FASB/IASB compliance.
Read Kimberly F Williams, Esq.'s full review
September 12, 2018
Jennifer Day, CPA | TrustRadius Reviewer
Score 5 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

We are only in the implementation phase, but the goal is for this to be used by the accounting and supply chain departments. The intent behind using the software is to address concerns over new FASB standards as well as facilitate lease administration overall.
Read Jennifer Day, CPA's full review
April 05, 2018
William Rose | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

We currently use LX to house over 800 store leases, mainly for use by our Corporate Accounting and Real Estate departments. We pay all rental transactions through the system, which integrates to our ERP. We book straight-line rent and percent rent accruals and are now in the middle of the transition to FASB 842. Real estate uses the system to run reports used in lease negotiations, or lease admin, such as notice dates. Our Financial Reporting department utilizes many different reports within LX for disclosures in our SEC reporting packages.
Read William Rose's full review
September 13, 2018
Charlotte Eddy | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

We are using Lucernex for all our tower, ground, easement leases (over 900). We previously were using Siterra but are moving to this platform.
Read Charlotte Eddy's full review
September 12, 2018
Trina Tarczy | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

Our organization is in the infancy of the implementation of the Lucernex Lease Administration platform. The Leasing Team will be using Lucernex to manage our leasing portfolio, as well as assisting Accounting in meeting the new FASB accounting standards.
Read Trina Tarczy's full review
April 04, 2018
Jessica Mihm | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

We use Lucernex Lease Administration to track all of our lease related data and accounting functions. We use it within our leasing department and have integrations built in to communicate with our accounting system. We use the system to pay our rents, calculate accruals, and do our accounting entries for FASB compliance.
Read Jessica Mihm's full review
September 12, 2018
Anonymous | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

Lucernex Lease Administration & Accounting is being used by our company to serve as a lease document repository and Lease Admin management system as well as to manage our Lease Accounting according to the new ASC 842 regulations.
Read this authenticated review
September 12, 2018
Anonymous | TrustRadius Reviewer
Score 5 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

We are currently implementing Lucernex Lease Administration in our accounting department to assist with the adoption of the ASC842 guidelines. We hope to achieve better business processes and reporting.
Read this authenticated review
September 17, 2018
Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

We are about 1/2 way through the implementation. We will be using it to calculate our current SL rent and the new 842 schedules.
Read this authenticated review
September 14, 2018
Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

Lucernex is used to house our real estate and equipment leases to prepare for ASC 842 adoption.
Read this authenticated review
September 12, 2018
Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

We are using this product for straight-line rent schedules and the new FASB lease accounting standard.
Read this authenticated review
September 12, 2018
Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

Our firm is currently using Lucernex within the Finance department to support other business units across the firm. It is providing for us FASB compliance, ERP integration, data centralization and better system controls.
Read this authenticated review
September 12, 2018
Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

Lucernex Lease Administration & Accounting has been procured to help accounting and reporting efforts to adhere to the new ASC 842 & IFRS 16 lease accounting standards. We are in the pre-implementation data collection stages and we hope during implementation to solve our challenges with lease tracking, and accounting for lease expense under the new standards.
Read this authenticated review
April 06, 2018
Anonymous | TrustRadius Reviewer
Score 1 out of 10
Vetted Review
Verified User
Review Source

Use Cases and Deployment Scope

We in Real Estate use Lucernex to house all our data and also link to Accounts Payable to pay the rent. It helps us automate the rent roll process.
Read this authenticated review

Lucernex Lease Administration & Accounting Scorecard Summary

What is Lucernex Lease Administration & Accounting?

The Lucernex Lease Administration and Accounting solution allows companies to manage the most complex real estate and equipment lease scenarios, mitigate risk, and achieve ultimate FASB/IASB compliance. By empowering companies to achieve their mission and enable better decision making, processes become standardized and visibility into real estate and equipment leases increases.

Lucernex Lease Administration & Accounting Features

Has featureFASB/IASB Compliant
Has featureLease Accounting
Has featureLease Administration
Has featureReal Estate Leases
Has featureEquipment Leases
Has featureSeamless ERP Integration
Has featureRisk Mitigation

Lucernex Lease Administration & Accounting Video

In this video you will see how managing physical assets is highly complex and only Accruent has you covered from the boardroom to the control room.

Lucernex Lease Administration & Accounting Integrations

Yardi Voyager, SAP, Oracle, Peoplesoft, Workday

Lucernex Lease Administration & Accounting Competitors

COSTAR, Tririga, Lease Accelerator

Lucernex Lease Administration & Accounting Pricing

  • Does not have featureFree Trial Available?No
  • Does not have featureFree or Freemium Version Available?No
  • Has featurePremium Consulting/Integration Services Available?Yes
  • Entry-level set up fee?Required

Lucernex Lease Administration & Accounting Customer Size Distribution

Consumers
0%
Small Businesses (1-50 employees)
5%
Mid-Size Companies (51-500 employees)
40%
Enterprises (> 500 employees)
55%

Lucernex Lease Administration & Accounting Support Options

 Free VersionPaid Version
Phone
FAQ/Knowledgebase
Social Media
Video Tutorials / Webinar
Email
Forum/Community

Lucernex Lease Administration & Accounting Technical Details

Deployment Types:SaaS
Operating Systems: Unspecified
Mobile Application:No
Supported Countries:All
Supported Languages: Chinese Simplified, Chinese Traditional, Dutch, English, French, German, Japanese, Korean, Portuguese, Russian, Spanish, Thai, Turkish