Overview
What is Visual Lease?
Visual Lease is a Lease Management Software that provides robust lease accounting functionality with a depth of lease administration functionality to properly manage a company's lease portfolio.
Maybe not this time
Visual Lease helped all our needs!
Visual Lease [Review]
The software is getting used only in the finance department at this present …
Pricing
What is Visual Lease?
Visual Lease is a Lease Management Software that provides robust lease accounting functionality with a depth of lease administration functionality to properly manage a company's lease portfolio.
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
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Product Details
- About
- Competitors
- Tech Details
What is Visual Lease?
Visual Lease Competitors
- AppFolio Property Manager
- LeaseQuery
- Lease Accelerator
Visual Lease Technical Details
Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
---|---|
Operating Systems | Unspecified |
Mobile Application | No |
Comparisons
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Reviews and Ratings
(10)Community Insights
- Business Problems Solved
- Pros
- Cons
- Recommendations
Users have found Visual Lease to be a valuable tool for managing and tracking their real estate portfolios worldwide. With the software, users are able to develop strategic plans and comply with lease accounting standards such as ASC 842, improving the visibility of their lease portfolio. Generating reports required for FASB 842 and running journal entries have become easier with Visual Lease, saving users time and reducing errors. The software has proven to be a centralized platform for lease tracking and provides accurate records for organizing accounts. Users appreciate the ability to integrate and report more effectively with Visual Lease, making lease management more efficient. Overall, Visual Lease serves as a reliable solution that simplifies lease accounting processes and enhances lease data management for companies with large portfolios.
Intuitive and user-friendly interface: Reviewers consistently mention that Visual Lease has a very intuitive platform with a friendly interface that is easy to navigate. Many users, including those who are not familiar with the tool, find it easy to learn and use for managing the accounting process. The simplicity and clean interface of Visual Lease are well-received by users.
Comprehensive lease management software: Users appreciate that Visual Lease goes beyond just calculating numbers for ASC 842 reporting and serves as a comprehensive lease management software. Having all lease details in one place and easily accessible to team members is seen as a valuable benefit. Visual Lease is commended for meeting all lease management needs, from ASC 842 implementations to rent payments and tracking renewals.
Automation of lease accounting processes: Users find Visual Lease helpful in automating calculations, centralizing all leases, tracking financial entries, and streamlining the lease entry process. The automatic calculation of Right of Use - ROU assets and liabilities is highly valued by reviewers, especially when displayed clearly on a month-to-month basis. The ability to track lease expirations, set up payees and rent payment records, allocate leases based on different measures, automate complex accounting schedules, manage FX rates and foreign leases are also highlighted as valuable features.
Cons:
- Lack of User-Friendliness: Many users have found Visual Lease to be difficult to navigate and lacking in user-friendly features. The user interface can be confusing, making tasks challenging and leading to a steep learning curve for new users.
- Inadequate Reporting Functionality: Users have expressed frustration with the reporting structure of Visual Lease, stating that reports often lack key areas or require workarounds such as running multiple reports and using Vlookups. The reporting functionality is lacking and often requires manipulation of the reports to obtain desired results.
- Performance Issues: Some users have experienced slow website performance while using Visual Lease, resulting in increased wait times and decreased productivity. Additionally, the search functionality within the platform has been glitchy, making it difficult to search for specific lease records efficiently.
Several user recommendations have been made based on their experiences with Visual Lease. These recommendations include:
- Implementing Visual Lease for lease management, as it is a good tool for lease database and accounting. Users suggest starting to use Visual Lease and learning as you go, stating that it is likely to meet lease accounting needs, especially for companies with a small lease portfolio.
- Comparing Visual Lease to other competing products before making a decision. Users recommend evaluating the features and support offered by different options in order to determine which one best fits your needs. They also suggest documenting lease data before implementation and seeking best practices from Visual Lease for desired reports.
- Utilizing the training resources provided by Visual Lease. Many users recommend scheduling time to review the training videos and sharing them with colleagues. This will help users familiarize themselves with the software's functionalities and make the most out of its features.
In summary, users recommend implementing Visual Lease for lease management, comparing it to competitors, and utilizing the training resources available to maximize its benefits.
Attribute Ratings
Reviews
(1-3 of 3)Maybe not this time
- Generates abstract reports
- Allows us to include lessor's leases
- Fairly user friendly
- Journal entries look confusing and generate XXX as codes
- Customer service should show concerns. When asked about XXX as codes in journal entries, customer support brushed off our concern as it was a default.
- No API interface with Intacct
- We did not end up using the system too much because the lease accounting standard got postponed by FASB.
- Our real estate team did not use the system as they found it cumbersome. They still entered lease information into the system for accounting to have the information. They preferred to continue using Excel to track their leases.
Visual Lease helped all our needs!
- Database of all leases.
- This helps to track leases easily organization wide.
- So far, this has worked out extremely well for our governmental environment.
- This has been extremely important in compiling all of the many leases that we have going on throughout different years and timelines.
Visual Lease [Review]
The software is getting used only in the finance department at this present time, we have plans to reevaluate the uses of the software next year to determine if we need to expand to different departments[.]
Visual Lease provides a repository for all of our [leases], putting them in a central location, which provides visibility for all of our leases and allows us to better strategically plan our future and current leases[.]
- Easy to use platform
- Calculation of GASB 87/FASB 842 liabilities
- Integration into your ERP
- Provide more Reporting options
- Visibility
- Compliance