Visual Lease

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:

1. 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.
2. 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.
3. 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.