Best Lease Accounting Software in 2025

Introduction

Running a leasing business, whether you handle real estate, equipment, vehicles, or any other leased asset, requires more than simple bookkeeping. You need tools that help classify leases as finance or operating, recognize right‑of‑use assets and lease liabilities, generate amortization schedules, and comply with modern standards like ASC 842 and IFRS 16. Without a dedicated system, managing these tasks in spreadsheets becomes time‑consuming and error‑prone. This guide explores the best lease accounting software so you can automate compliance, streamline reporting, and make confident decisions for your leasing portfolio.

We’ll look at each platform from a user’s perspective and focus on features that matter most to lease accounting, such as automation, integration, real‑time reporting, and scalability. You’ll also find tips on choosing the right solution for your unique needs, plus answers to frequently asked questions.

Factors to Consider 

When choosing lease accounting software, you should consider the criteria below to ensure the software you choose fits your leasing business:

• Compliance with Standards: Look for tools that support ASC 842 and IFRS 16 compliance, automatically generating necessary disclosures and reports.
• Portfolio Size: Basic software may suffice for small portfolios with a handful of leases. Larger portfolios with multiple entities or complex terms benefit from robust automation and reporting.
• Integration Capabilities: Seamless integration with your general ledger (GL) and enterprise resource planning (ERP) systems saves time and reduces errors.
• User Experience: A clean interface and intuitive navigation enable non‑accountants to manage leases confidently.
• Automation and AI: Platforms that automate lease schedules, categorize transactions, and identify anomalies reduce manual workload.
• Reporting and Analytics: Real‑time dashboards and customizable reports help you monitor lease liabilities, expenses, and income across properties or assets.
• Scalability: As your portfolio grows, the software should scale without forcing you to re‑implement workflows.

Top 5 Lease Accounting Software

1

QuickBooks

Simple tools for managing lease payments and finances

Overview

QuickBooks is a household name in small‑business accounting, and Intuit’s software includes features tailored for real estate professionals. With a mobile‑friendly interface and strong integration ecosystem, QuickBooks can handle routine accounting tasks for leasing businesses while connecting to third‑party apps for more advanced property management.

Key Features

• Real‑Estate‑Focused Tools: QuickBooks’ real estate accounting edition allows you to manage rental properties, track income and expenses, and view cash flow in real time. You can automate rent collection by creating custom invoices and setting up recurring payments, so tenants pay on time.
• Bank Feeds and Expense Management: Secure bank feeds import transactions directly from your bank, eliminating manual entry. QuickBooks’ expense management lets you digitize receipts, categorize costs, and prepare records for taxes.
• Mobile Access: The companion mobile app lets you manage your leasing business anywhere, providing real‑time visibility into your financial data and allowing you to send invoices and record expenses on the go.
• Payroll Integration: If you employ maintenance staff or property managers, QuickBooks’ payroll module ensures accurate payment, tax withholding, and compliance with local labor laws.
• AI‑Enhanced Accounting: Recent updates include AI agents that categorize transactions, reconcile accounts, monitor financial performance, and produce KPI scorecards. Multi‑entity features allow you to standardize reporting across multiple properties or business units.

Advantages

• Widely used and supported, making it easy to find accountants familiar with the software.
• Strong ecosystem of over 500 third‑party apps, allowing you to connect specialized lease‑management tools.
• Automated invoices and bank feeds reduce manual work for rent collection and expenses.

Disadvantages

• Not designed specifically for lease administration; you may need add‑ons for complex lease schedules and compliance.
• Setup can be daunting for landlords without accounting experience.
• Limited customization for real estate–specific reporting compared to dedicated property management platforms.

Ideal For

QuickBooks suits small to mid‑sized leasing businesses that need general accounting functionality, invoicing, and bank integration. If you want to centralize your finances and are comfortable using add‑ons for advanced lease management, QuickBooks is a solid choice.

2

Xero

Clean automation for tracking leases and expenses

Overview

Xero is a cloud‑based accounting platform known for its clean interface and strong integration marketplace. It offers a dedicated landing page for landlords and property managers, making it easier to handle rental income, expenses, and tenant data from one dashboard.

Key Features

• Real‑Time Property Finances: Xero provides a unified dashboard where you can monitor rent payments, security deposits, and expenses as they happen. Bank reconciliation is quick thanks to automatic transaction imports.
• Automated Rent Collection: By connecting Xero to payment platforms like GoCardless, you can set up recurring debits for rent. Tenants pay directly from their bank accounts, reducing late payments and administrative work.
• Tenant Records Management: Xero keeps contact details, payment histories, and outstanding invoices for each tenant in one place. Integration with Office 365 means communication history stays organized.
• Integration with Property Management Apps: The Xero App Store features property‑focused tools such as Landlord Studio and Re‑Leased. These integrations extend Xero’s capabilities with features like lease tracking, maintenance scheduling, and tenant portals.
• ERP Integration: For larger operations, Xero acts as the financial core within an enterprise resource planning system. Data flows seamlessly across modules, enabling one‑source‑of‑truth reporting.

Advantages

• User‑friendly interface suited for non‑accountants.
• Strong ecosystem of property management integrations for end‑to‑end lease administration.
• Automatic rent collection reduces late payments.

Disadvantages

• Some advanced features (e.g., payroll) require add‑ons or higher‑tier plans.
• Limited built‑in lease compliance; complex leases may still require specialized software.

Ideal For

Xero is ideal for small to medium‑sized landlords who want straightforward accounting combined with automated rent collection and property management integrations. Its app marketplace makes it flexible enough to adapt as your portfolio grows.

3

Sage

Clean automation for tracking leases and expenses

Overview

Sage offers a suite of cloud‑native financial and ERP solutions, including packages designed specifically for real estate developers and property managers. Its software is built to handle multi‑entity operations and complex lease arrangements, combining accounting, construction management, and property management in one platform.

Key Features

• Diverse Lease Structures: Sage’s real estate package accommodates multiple tenants per property, multiple units per lease, subleases, and complex agreement terms. This flexibility allows you to optimize rental income across various commercial and residential properties.
• Automated Expense Recoveries: Management fee and expense recoveries for common area maintenance (CAM) and real estate taxes are automated. The system calculates recoveries and reconciliations, saving time and improving accuracy.
• Loan and Project Tracking: You can track financing details with loan‑tracking tools and bank‑draw forms. This is especially useful for development projects that require monitoring project funding and approvals.
• Multi‑Entity Consolidation: Sage’s dynamic consolidation tools provide real‑time insights across entities, helping you manage multiple properties or business units under one umbrella. Automated workflows replace tedious spreadsheet processes and shorten monthly closes.
• Advanced Reporting and Dashboards: The platform offers over 150 pre‑built reports plus customizable dashboards. Real‑time analytics help you measure financial and operational performance, compare outcomes, and visualize metrics through interactive charts and graphs.
• Lease Administration Simplified: Sage simplifies lease administration, rent rolls, and complex rental calculations like CAM recoveries and percentage rents. All information flows into the accounting module for accurate reporting and compliance.

Advantages

• Purpose‑built for real estate developers and property managers, supporting complex leases and construction projects.
• Scales across multiple entities and supports multi‑currency and multi‑language operations.
• Robust reporting and dashboards allow deep financial analysis and decision‑making.

Disadvantages

• Implementation may be lengthy due to its comprehensive features.
• Pricing is custom and geared toward medium to large enterprises rather than individual landlords.

Ideal For

Sage suits developers and real estate firms managing multiple properties, construction projects, or portfolios requiring sophisticated lease structures. If you need comprehensive financial management integrated with property management, Sage is a leading choice.

4

Zoho Books

Easy automation for recurring lease billing

Overview

Zoho Books is part of the broader Zoho ecosystem and offers affordable cloud‑based accounting for small businesses. While not a dedicated lease accounting platform, it provides automation and customization features that appeal to property managers and real estate investors.

Key Features

• Recurring Invoices and Payment Reminders: Zoho Books automates recurring invoices, making it easy to bill tenants on a set schedule. Payment reminders reduce the risk of late rent.
• Rental Income and Expense Tracking: The software tracks rental income and expenses, helping you evaluate cash flow and profitability for each property or unit. Detailed reports support investor reporting and tax preparation.
• Automation and Customization: Users can automate workflows for approvals and notifications. Custom fields allow you to record lease details such as lease terms, security deposits, or unit numbers.
• Multi‑Currency and Tax Compliance: Zoho Books handles transactions in multiple currencies and offers automated tools for taxes like GST, VAT, and sales tax — useful for international portfolios.
• Bank Integration and Mobile Apps: Zoho Books connects to bank accounts for automatic transaction imports and reconciliation. Mobile apps for iOS and Android let you manage finances on the go.
• Role‑Based Permissions: Multiple users can collaborate with role‑based access, ensuring accountants, property managers, and owners have appropriate permissions.

Advantages

• Affordable pricing and a free trial make it accessible to small landlords and startups.
• Part of a large ecosystem; integrates easily with other Zoho apps (CRM, Creator, etc.).
• Supports multi‑currency and tax compliance, helpful for global investors.

Disadvantages

• Lacks advanced lease compliance features needed for ASC 842/IFRS 16 reporting.
• Requires customization or additional apps for complex property management tasks.

Ideal For

Zoho Books is ideal for small landlords, property managers, or real estate investors who need a budget‑friendly accounting solution with automation and customization. Its integration with the broader Zoho suite makes it attractive for businesses already invested in that ecosystem.

5

FreshBooks

User-friendly leasing and expense management

Overview

FreshBooks started as invoicing software for freelancers but has evolved into a full‑featured accounting platform. Its user‑friendly design and strong customer service make it a favorite among small business owners, including landlords looking to simplify financial tasks.

Key Features

• Custom Invoicing and Expense Tracking: FreshBooks allows you to create customized invoices with your branding and set recurring invoices for rent. Unlimited expense entries make it easy to track maintenance costs, utilities, and other property‑related expenses.
• Time Tracking and Estimates: Built‑in time tracking lets you bill clients or allocate internal labor accurately. You can also create estimates for future work, like renovations or repairs.
• Automated Late Fees and Payment Reminders: FreshBooks automatically adds late fees to overdue invoices and sends reminders to encourage on‑time rent payments.
• Integrations: FreshBooks integrates with payment processors (Stripe, PayPal), productivity tools (Trello, Slack), ecommerce (Shopify), payroll services (Gusto), and others. These integrations help streamline operations for landlords who also run ancillary businesses.
• Recent Updates: The platform has introduced manual bank account creation, historical transaction imports, improved bank connections, financial lock functionality, and streamlined payroll management.

Advantages

• Extremely easy to use, even for users with no accounting background.
• Customizable invoicing and automated reminders help ensure timely rent collection.
• Wide integration ecosystem for additional functionality.

Disadvantages

• No native payroll in lower‑tier plans and limited real‑estate‑specific features.
• Not designed for complex lease accounting or multi‑entity consolidation.

Ideal For

FreshBooks works well for landlords with a small number of properties or for service‑oriented businesses that also lease equipment or space. It’s best when simplicity and ease of use are more important than advanced lease management.

6

FinQuery (formerly LeaseQuery)

Dedicated compliance for ASC 842 and IFRS 16

Overview

FinQuery, previously known as LeaseQuery, is a dedicated lease accounting platform built to simplify compliance with ASC 842, IFRS 16, and GASB 87. It automates calculations and journal entries while supporting complex lease scenarios across multiple industries.

Key Features

• Automated Lease Schedules: FinQuery automatically generates amortization schedules, journal entries, and disclosures. It handles lease modifications, renewals, and terminations with minimal manual intervention.
• Flexible GL Integration: The platform integrates with major ERP and accounting systems such as NetSuite, SAP, QuickBooks, and other general ledger solutions. This flexibility ensures that lease data flows smoothly into your existing financial reporting process.
• Point‑in‑Time and Dual Reporting: FinQuery offers point‑in‑time reporting, enabling you to view lease data under multiple accounting standards simultaneously. This is crucial for organizations reporting under both ASC 842 and IFRS 16 or needing variable lease tracking.
• Foreign Exchange and Multi‑Currency: For global portfolios, FinQuery remeasures leases using current exchange rates and handles currencies across regions.
• Audit Readiness: Read‑only auditor access and one‑click reporting streamline audit preparation. The system maintains a complete audit trail of changes and calculations.

Advantages

• Purpose‑built for compliance with modern lease accounting standards.
• Strong integration with existing GL systems and ERPs.
• Handles complex scenarios including variable payments, multiple currencies, and dual reporting standards.

Disadvantages

• Implementation and onboarding can be time‑consuming due to the system’s depth.
• Navigation may be confusing for occasional users until they become familiar with the workflow.

Ideal For

FinQuery is best for organizations that need dedicated lease accounting software to comply with ASC 842/IFRS 16 and manage complex lease portfolios. It’s particularly useful for finance teams working with multiple entities or international leases.

7

Visual Lease

Full visibility into lease data and obligations

Overview

Visual Lease is an enterprise‑level lease management and accounting platform designed for organizations with large, complex portfolios. It centralizes lease data, streamlines compliance, and offers powerful reporting and controls. Visual Lease is often used by multinational corporations, public companies, and institutions with stringent audit requirements.

Key Features

• Centralized Lease Repository: All leases, documents, and relevant data are stored in a single, secure platform. This centralization makes it easy to manage agreements across properties, equipment, and vehicles.
• Comprehensive Compliance: Visual Lease supports ASC 842 and IFRS 16 compliance, including subleases, sale‑leasebacks, and lease incentives. Configurable reporting tools allow you to create ad‑hoc and roll‑forward reports that satisfy auditors and regulatory bodies.
• ERP Integration: The software integrates with major ERP systems, enabling bi‑directional syncing. Lease changes automatically update your sub‑ledger, ensuring consistent data across systems.
• Audit Trails and Internal Controls: Detailed audit trails track lease changes, approvals, and document management. Role-based access controls ensure that users only see data relevant to their responsibilities, thereby strengthening internal controls.
• Complex Lease Types: Visual Lease handles subleases, sale‑leasebacks, and variable rent arrangements. It can manage multiple lease components, such as land and buildings, or combined equipment leases.

Advantages

• Enterprise‑grade platform designed to handle large and complex portfolios.
• Deep reporting and compliance capabilities tailored for public companies and regulated industries.
• Configurable modules allow businesses to adapt the system to their processes.

Disadvantages

• May be overkill for small or mid‑sized portfolios due to cost and complexity.
• Some users report a learning curve with reporting and document upload features.

Ideal For

Visual Lease is designed for organizations that require robust compliance and internal controls across a complex lease portfolio. It’s well-suited for enterprises managing multiple asset classes that need comprehensive reporting and governance.

Comparison Table

Best Lease Accounting Software

Additional Tips for Effective Lease Accounting

• Centralize Lease Data: Regardless of the software you choose, keep all lease documents, payment schedules, and communications in one system. Centralization reduces errors and accelerates audits.
• Automate Whenever Possible: Automation saves time and lowers the risk of manual mistakes. Look for software that automates lease schedules, recurring invoices, and expense allocations.
• Use Dashboards for Decision‑Making: Visual dashboards give you quick insights into cash flow, liabilities, and key performance indicators. They help you spot trends and address issues before they become problems.
• Plan for Growth: Choose a system that can scale with your portfolio. Moving data from one platform to another is expensive and disruptive.
• Train Your Team: Even user‑friendly software requires proper training. Invest in onboarding sessions and ongoing education to make sure everyone uses the system effectively.

Conclusion

Choosing the best accounting software for leasing depends on your portfolio size, compliance needs, and desired level of automation. General accounting tools like QuickBooks, Xero, Zoho Books, and FreshBooks offer user‑friendly interfaces and broad integrations, making them suitable for smaller portfolios or landlords who prioritize simplicity. Meanwhile, platforms like Sage provide robust, integrated solutions for developers and property managers handling complex projects and leases. Dedicated lease accounting software, FinQuery and Visual Lease, delivers advanced compliance, dual reporting, and audit readiness for organizations with large or intricate portfolios.

By assessing your business requirements and comparing features, you can select a solution that streamlines your workflows, ensures compliance, and supports growth. Automating lease accounting not only saves time but also increases accuracy, giving you confidence in your financial reporting and helping you focus on what matters most — growing and managing your leasing business.

Frequently Asked Questions

1. What is lease accounting software?

Lease accounting software automates the management and reporting of lease agreements. It helps you classify leases as finance or operating, calculate right‑of‑use assets and liabilities, generate amortization schedules, and produce compliant financial statements under standards like ASC 842 and IFRS 16. By centralizing lease data, it reduces errors and saves time compared with manual spreadsheets.

2. Do I need specialized software if I only have a few leases?

If your portfolio is small and leases are straightforward, you can use general accounting software (like QuickBooks or FreshBooks) combined with spreadsheets. However, if you expect growth, have multiple entities, or need ASC 842/IFRS 16 compliance, investing in specialized software such as FinQuery or Visual Lease will save time and reduce audit risk.

3. Can I manage lease accounting in QuickBooks?

QuickBooks can handle general accounting and invoicing for rental properties, and you can connect it to add‑ons that manage lease schedules and compliance. However, QuickBooks lacks native support for complex lease calculations. For simple portfolios, it works well, but for compliance or large portfolios you may need dedicated software.

4. How does Xero help with rent collection?

Xero integrates with payment platforms like GoCardless to automate rent collection. Once tenants are set up, rent payments are debited automatically and matched against invoices, reducing late payments and manual reconciliation.

5. What makes Sage suitable for real estate developers?

Sage’s real estate package handles diverse lease structures, complex agreements, expense recoveries, and multi‑entity consolidation. It integrates construction management, financial management, and lease administration, providing real‑time analytics and robust reporting — ideal for developers managing many projects and properties.

6. Does Zoho Books support multiple currencies?

Yes. Zoho Books includes multi‑currency functionality and built‑in currency conversion, making it suitable for landlords and investors with international operations. It also handles taxes like GST, VAT, and sales tax automatically.

7. How user‑friendly is FreshBooks for landlords?

FreshBooks is designed with simplicity in mind. Its customizable invoices, automated late fees, and straightforward expense tracking make it accessible for landlords without accounting backgrounds. However, it lacks advanced features for complex leases and multi‑entity portfolios.

8. What are the advantages of FinQuery over general accounting software?

FinQuery automates lease schedules, handles variable and multi‑currency leases, integrates with major ERP systems, and supports dual reporting under ASC 842 and IFRS 16. It provides audit‑ready reports and a complete audit trail, which general accounting software cannot do without extensive customization.

9. When should I choose Visual Lease?

Choose Visual Lease if you manage a large or complex portfolio that requires strict compliance, audit readiness, and robust internal controls. Its configurable reports and integration with ERP systems make it ideal for enterprises with multiple asset classes and regulatory requirements.

10. Are there free trials for these software options?

Most platforms offer free trials or demos. QuickBooks and Xero usually provide 30‑day trials, Zoho Books offers a free plan with limited features, and FreshBooks has a 30‑day trial. FinQuery and Visual Lease typically arrange demos and custom pricing; contact their sales teams for trial access.