Visual Lease Reviews & Insights

Score8.2 out of 10

10 Reviews and Ratings

Community insights

TrustRadius Insights for Visual Lease are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

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.

Visual Lease Reviews

3 Reviews

Maybe not this time

Rating: 5 out of 10

Incentivized

July 26, 2021

Use Cases and Deployment Scope

It was used to address the new lease accounting standard ASC 842 and also used to keep track of our real estate leases and also copier leases. It was mainly used by our accounting and real estate teams. Our real estate team wanted to have a system that generates abstract reports, and Visual Lease has this feature.

Pros

Generates abstract reports
Allows us to include lessor's leases
Fairly user friendly

Cons

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

Likelihood to Recommend

Visual Lease can be used for organizations that have intercompany leases as it allows for both lessors and lessees. It is not appropriate if you want to have a system that can integrate easily with your accounting system. I found that the company did not appear concerned to try to address issues with the system until we decided to discontinue using the system by not renewing the contract.

Cherisse Ratan

Controller in Finance and Accounting at KIPP SoCal Public Schools (1001-5000 employees)

Vetted Review

2 years of experience

Visual Lease helped all our needs!

Rating: 10 out of 10

Incentivized

July 26, 2021

Use Cases and Deployment Scope

We are currently using Virtual Lease to organize our entire organization's lease programs so they are accessible to everyone who may need them. This helps with efficiency while trying to track leases.

Pros

Database of all leases.
This helps to track leases easily organization wide.

Cons

So far, this has worked out extremely well for our governmental environment.

Likelihood to Recommend

Virtual lease is well suited for companies with a myriad of departments and not all are connected. This program helps link those missed connections on leases. I believe this would not be necessarily appropriate for a company on a smaller scale.

Verified User

Employee in Finance and Accounting (501-1000 employees)

Vetted Review

1 year of experience

Visual Lease [Review]

Rating: 10 out of 10

Incentivized

July 23, 2021

Use Cases and Deployment Scope

Visual Lease is being used to track all leases company wide.
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[.]

Pros

Easy to use platform
Calculation of GASB 87/FASB 842 liabilities
Integration into your ERP

Cons

Provide more Reporting options

Likelihood to Recommend

Visual Lease is well suited for companies that are trying to manage their leases in a more automated way other then spreadsheet. A company that needs visibility around their leases and wants to stay in compliance with the ever changing world of accounting. A company that wants a software that can integrate with their ERP and make routine monthly accounting entries.

Dominic Cromartie, CPA, MAFM

Corporate Controller (Pari-Mutuel Tracks) in Finance and Accounting at Porach Band of Creek Indians (5001-10,000 employees)

Vetted Review

1 year of experience

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