LeaseQuery Accounting Blog
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Read blogs on accounting, finance, & leasing written by the CPAs & technical accounting experts at LeaseQuery. Key topics covered are Accounting Tips, ARO Accounting, and Investment & Lease Accounting. LeaseQuery is a lease accounting software built by accountants for accountants.
LeaseQuery Accounting Blog
3d ago
Adjustments are made at the close of an accounting period to rectify errors, record unaccounted income or expenses, and maintain the integrity of financial records to prepare comprehensive financial statements. This ensures financial data accurately reflects the financial position and performance of a business.
What is an adjustment in accounting?
An adjustment in accounting is a journal entry that impacts the income statement. An adjusting entry can also specifically mean an entry made at the end of the period to correct a previous error or to record unrecognized income or expenses.
Why mak ..read more
LeaseQuery Accounting Blog
1w ago
In the fast-paced world of business, efficient contract management is essential for organizations to stay organized, compliant, and ahead of the competition. From tracking critical dates to analyzing contract costs, having a centralized system for managing contracts is crucial. One popular tool many organizations turn to for contract management is Microsoft Excel. In this article, we’ll explore the reasons why Excel is a viable option for managing contracts, how to get started with Excel for contract management, and the pros and cons of using Excel for this purpose.
Why use Excel for contrac ..read more
LeaseQuery Accounting Blog
1w ago
The post Tool | Software Spend Management RFP Template appeared first on FinQuery ..read more
LeaseQuery Accounting Blog
2w ago
What is materiality in accounting?
Materiality is the accounting concept that the more significant missing or incorrect information is to an entity, the larger impact the error or omission may have on the decision-making of users of the affected financial statements.
In other words, information is material to an entity if its omission impacts the financial decisions of users of an entity’s financial statements.
What does it mean if something is immaterial in accounting?
Immaterial is the description of an amount not impacting financial statements significantly. In other words, information is i ..read more
LeaseQuery Accounting Blog
1M ago
FinQuery’s new contract management solution is purpose-built to provide insight and intelligence into organizations’ contractual financial obligations
Atlanta, GA – February 27, 2024 – FinQuery, a leading provider of solutions built to efficiently manage companies’ largest areas of spend, proudly announces the launch of FinQuery Contract Management, an AI-enabled solution that centralizes business contracts, designed to enhance visibility and empower wiser spending decisions.
FinQuery Contract Management fills an important gap. Until now, contract management solutions have b ..read more
LeaseQuery Accounting Blog
1M ago
At a time when companies are rapidly expanding and downsizing their workforces, IT teams must provision and deprovision technology at scale. Dealing with software alone can be particularly daunting, since the average company uses at least 125 applications, according to Gartner. New hires, especially those working remotely, need to have access to the right applications on their first day. When an employee leaves the company, it’s critical to revoke access to all the systems they used immediately. For many companies, this can make hiring or terminating a single employee time-consuming and ..read more
LeaseQuery Accounting Blog
1M ago
1. CapEx (Capital Expenditures)
How is CapEx reported?
2. OpEx (Operating Expenses)
How is OpEx reported?
3. Is software CapEx or OpEx?
4. CapEx vs OpEx: Which is better?
5. Summary
6. Related articles
Every company has a variety of costs, from office leases to software, and these expenses must be assigned into different categories to be accounted for correctly. The most common of these categories are capital expenditures (CapEx) and operating expenses (OpEx).
CapEx and OpEx are accounted for and presented differently on a company’s financial statements under US GAAP. This article com ..read more
LeaseQuery Accounting Blog
1M ago
The technology provider’s transformative rebrand and enhanced offerings highlight its dedication to meeting evolving customer and partner needs
ATLANTA – February 8, 2024 – LeaseQuery, a leading software provider with solutions built to efficiently manage companies’ largest areas of spend, today announced its rebrand as FinQuery. This extensive rebrand effort conveys the company’s expanded focus on empowering finance, accounting and IT with a unified platform that manages what companies lease, use and subscribe to, and the contracts that govern those agreements.
FinQuery’s unified platf ..read more
LeaseQuery Accounting Blog
1M ago
1. What is financial contract management?
2. Benefits of financial contract management
Central repository
Visibility
Ease of use
3. How these features facilitate budgeting
Single source of truth
Critical date knowledge
Research effectively
Visible obligations
Quicker budgeting
Identify savings
Empower the finance team
4. Summary
5. Related articles
What is financial contract management?
Financial contract management is contract management for finance teams. It starts immediately after a contract has been signed and monitors all the contracts that commit your company to large or recurri ..read more
LeaseQuery Accounting Blog
1M ago
As presented in our previous article Managing SaaS Expenditures: Key Questions for CFOs to Consider, SaaS spend management is a critical task for finance leaders, as SaaS applications can represent a significant portion of a company’s IT budget. With the rapid growth of SaaS, it is vital to have a clear understanding of where your SaaS spend is going and how you can optimize it. In this article, we will discuss the importance of SaaS spend management for finance, and provide a step-by-step approach to effective SaaS spend management.
Five steps for effective SaaS spend management for finance ..read more