8 Best GASB 87 Lease Accounting Software Platforms in 2026

Most government finance teams manage more than one kind of agreement. A city might rent office space, lease a building to a nonprofit, and pay for cloud permitting software. The leases fall under GASB 87. The software subscription falls under GASB 96. Every balance still has to reconcile across fund and government-wide statements and hold up to audit.

Spreadsheets can handle a few leases, but struggle as the portfolio grows. A single modification can change your calculations, journal entries, and disclosures. The right GASB 87 lease accounting software keeps those changes connected to the source contract, so your team can explain any number it reports.

Government lease accounting requires specialized expertise, and your software should reflect that. In an October 2024 statement, Susan Coffey, CPA, CGMA, CEO of public accounting at the AICPA, said: “Accountants who do government work face unique challenges that require more specialized solutions.” For your team, that means checking whether the software handles lessee and lessor accounting, produces GASB disclosures, and connects reported balances to contracts and calculations.

This guide compares the best lease accounting software across GASB coverage, reporting, audit trails, modifications, integrations, and pricing. It helps public-sector finance teams and their CPA firms assess options against their reporting requirements.

Key Takeaways 

• Check that a platform covers lessee and lessor accounting under GASB 87, plus GASB 96 subscriptions, since some support only part of that
• Every reported balance should trace back to its contract terms, assumptions, calculations, and changes, so preparers and auditors can explain it
• Fund-level entries, government-wide reporting, and annual comprehensive financial report (ACFR) disclosures must reconcile, even when the software handles only part of that process
• Lease count is only one cost driver, so budget for implementation, integrations, add-on modules, and support

Government Lease Accounting Software: Quick Review

We compared lease accounting software platforms using vendor documentation, product guides, and published pricing information. The review covered GASB 87 and multi-standard accounting, data extraction and validation, audit trails, lease modifications, integrations, and pricing transparency. We also considered government reporting needs, including lessor accounting and GASB 96 subscriptions, to explain where each platform fits. G2 ratings are as of October 2026.

Want to see how traced-to-source GASB 87 accounting works? Book a demo.

Key Features to Look for in GASB 87 Lease Accounting Software

Tracking contracts and payment dates is only part of government lease accounting. Finance teams also need to calculate balances, prepare disclosures, and support the figures auditors review. The features below explain how GASB 87 lease accounting software supports that work, from recording an agreement to reporting it at year-end.

• Lessee and lessor accounting: Check whether the platform handles both assets your entity rents and assets it leases to others. It should calculate lessee assets and liabilities, plus lessor receivables and deferred inflows of resources, with supporting schedules and journal entries.
• GASB 96 (SBITA) support: Confirm that coverage includes subscription assets, liabilities, disclosures, and implementation costs. Ask the vendor to demonstrate how users distinguish capitalizable costs from expenses, rather than simply tracking subscription payments.
• Fund-level and government-wide reporting: Governmental funds and government-wide statements use different accounting treatments. Ask whether the software produces the relevant entries and reconciliation support, and test how it maps agreements to your funds and accounts.
• Note disclosures for the ACFR: Look for schedules supporting your ACFR, including lease asset information and future principal and interest payments. Check whether disclosure totals reconcile to the underlying schedules and can be traced to individual agreements.
• Source-based audit trail: Look for connections between contract terms, approved assumptions, calculations, and journal entries. Ask the vendor to trace a reported balance back to its source and show who changed the supporting records, when, and why.
• Lease modifications and remeasurements: Test an amendment that changes payments or shortens the lease term. The platform should support the appropriate accounting treatment, update schedules and entries, and preserve the original records and effective date of the change.
• ERP and general ledger integration: Confirm whether entries reach your ERP through a direct connection, an API, or a file export. Test fund and account mapping, posting periods, and reconciliation, then identify any manual steps and controls for rejected or duplicate entries.
• Procurement and security review: Government purchases often go through an RFP, a cooperative purchasing contract, or an IT security review before approval. Ask each vendor for its SOC 2 Type II report, details on single sign-on (SSO) and role-based access, and where client data is stored and for how long. Confirm early whether the vendor can meet your procurement requirements, so a strong demo doesn’t stall in purchasing.

Best GASB 87 Lease Accounting Software Platforms

GASB 87 lease accounting software ranges from platforms built for public-sector finance teams to broader systems that support several accounting standards. The options below cover different portfolio sizes and reporting needs, including lessor accounting and GASB 96 subscriptions. Each overview explains what the platform offers, where it fits, and how it’s priced.

1. Trullion: Best for auditable GASB 87 lease accounting traced to source contracts

Trullion is an AI-powered accounting platform that supports GASB 87 alongside ASC 842, IFRS 16, and FRS 102. Its lease accounting workflow connects contract data, calculations, and reporting so finance teams can follow how an agreement becomes a reported balance.

For government finance teams and their CPA firms, that connection supports both preparation and review. Native NetSuite integration pushes journal entries directly, with Excel or CSV export for other ERPs. Lease schedules, journal entries, and disclosures remain linked to supporting records, giving reviewers access to the contract terms behind the accounting.

Core capabilities:

• Contract data extraction: Uses AI and optical character recognition (OCR) to extract dates, payment terms, and other lease data from PDF and Excel contracts for your team to review
• Real-time modification detection: Supports accounting for lease changes as they occur, with updated calculations and a retained history of the original agreement
• Source-based audit trail: Connects journal entries and disclosures to the underlying contract data and records changes for preparer and auditor review
• Multi-standard accounting: Produces lease schedules and reporting under GASB 87, ASC 842, IFRS 16, and FRS 102

Pricing: Trullion offers custom pricing. Contact the team for a quote based on your entity’s requirements.

G2 rating: 4.7/5

See how Trullion automates audit-ready GASB 87 lease accounting.

2. Monetary (formerly DebtBook): Best for public entities managing leases alongside debt

Monetary, formerly DebtBook, provides treasury and accounting software for government and nonprofit organizations. Its lease and subscription tools sit alongside debt, cash, and investment management, making it an option for public entities bringing those functions into one system.

Core capabilities:

• GASB 87 lease accounting: Calculates lease schedules and generates journal entries, with remeasurement triggers for changes to existing agreements
• GASB 96 subscription accounting: Maintains SBITA records and calculations alongside leases, with checks to help identify missing arrangements
• Reporting and audit access: Provides year-over-year schedule comparisons and gives auditors access to schedules and supporting documents

Pricing: Monetary pricing depends on organization size, selected products, and required features.

G2 rating: Not yet rated on G2

3. Crunchafi: Best for entities that also need GASB 94 public-private partnership accounting

Crunchafi is cloud-based lease accounting software designed for CPA firms and their clients. It supports GASB 87, GASB 94, and GASB 96 alongside ASC 842, IFRS 16, and FRS 102. Shared access lets firms and government clients work together on lease records, calculations, and reporting within the same system.

Core capabilities:

• Dual access: Gives CPA firms and clients access to the same lease accounting system to collaborate on records and reporting
• Multi-standard coverage: Supports government lease and subscription accounting under GASB 87, GASB 94, and GASB 96, plus FASB and international lease standards
• Lease calculations and reporting: Automates lease calculations and generates reports to support financial reporting and audit preparation

Pricing: Lease Accounting is priced per lease per year. The offering includes dual access, reporting, training, annual SOC reports, and personalized support. Data Extraction is a separately priced product.

G2 rating: 4.8/5

4. FinQuery (formerly LeaseQuery): Best for entities that also report under SFFAS 54 federal lease standards

FinQuery is a cloud-based accounting platform whose LeaseQuery product manages lease calculations and reporting. It supports GASB 87 alongside ASC 842, IFRS 16, FRS 102, and SFFAS 54. Its ERP integration options suit teams that want a dedicated lease subledger feeding their existing accounting system.

Core capabilities:

• Lease calculations and reporting: Generates amortization schedules, journal entries, and disclosure reports for GASB 87 and other supported standards
• GASB 96 accounting: Offers software for subscription-based IT arrangements alongside its lease accounting product
• ERP integration: Transfers lease accounting data to supported ERP and general ledger systems, connecting lease records with financial reporting

Pricing: FinQuery doesn’t list pricing on its website. Custom quotes are based on record count and required features.

G2 rating: 4.6/5

5. Visual Lease: Best for real estate teams coordinating with government accounting

Visual Lease is lease management and accounting software that brings financial and operational lease records into one platform. It supports collaboration between finance, real estate, procurement, and legal teams throughout the lease lifecycle. For public entities, its GASB 87 and GASB 96 capabilities connect that portfolio management work with lease and subscription reporting.

Core capabilities:

• Lease lifecycle management: Maintains agreements, renewal dates, payment obligations, and termination details for real estate and equipment portfolios
• GASB 87 and GASB 96 accounting: Calculates lease and subscription balances, supports remeasurements, and generates journal entries and reports
• Disclosure reporting: Produces disclosures and footnotes to support financial statement preparation

Pricing: Visual Lease doesn’t list pricing on its website. Its GASB Complete Package includes lease and SBITA management and accounting, data imports, implementation, configuration, training, and ongoing support.

G2 rating: 4.4/5

6. MRI ProLease: Best for organizations managing equipment leases and subleases

MRI ProLease is lease accounting and administration software for real estate, equipment, and sublease portfolios. It supports GASB 87, ASC 842, IFRS 16, and FRS 102 while keeping contractual obligations and accounting records in one system. Enterprise, Central, and Direct editions serve different portfolio sizes and operational needs.

Core capabilities:

• Multi-standard lease accounting: Generates journal entries and disclosures across supported standards using a one-to-many lease approach that limits duplicate records
• Equipment lease management: Tracks asset-level contracts, residual value guarantees, write-offs, and renewals, with capitalization schedules for equipment portfolios
• Lease administration: Centralizes contractual details, payment obligations, and key dates, with alerts for upcoming deadlines

Pricing: MRI doesn’t list pricing on its website. Quotes vary across its Enterprise, Central, and Direct editions.

G2 rating: 4.1/5

7. NetLease by Netgain: Best for teams that want lease accounting to run entirely inside NetSuite

NetLease by Netgain is lease accounting software built directly inside NetSuite. It supports GASB 87 and GASB 96 alongside ASC 842 and IFRS 16, keeping lease records, calculations, and postings within the ERP. Netgain also offers a separate cloud-based version for organizations using other accounting systems.

Core capabilities:

• Native NetSuite accounting: Maintains lease records and processes accounting within NetSuite without an external connector
• Multi-standard calculations: Generates amortization schedules and journal entries for GASB 87, GASB 96, ASC 842, and IFRS 16
• Automated posting: Calculates, posts, and updates lease-related journal entries, including lease liabilities and right-of-use assets

Pricing: NetLease for NetSuite uses custom pricing based on lease count and compliance requirements.

G2 rating: 4.8/5

8. EZLease: Best for teams importing lease portfolios from spreadsheets

EZLease is lease accounting software from insightsoftware for lessee and lessor portfolios. It supports GASB 87 and GASB 96 alongside ASC 842, IFRS 16, and FRS 102. Teams moving from spreadsheets can import lease data through templates, then use the system to prepare accounting schedules and reports.

Core capabilities:

• Bulk lease imports: Loads lease records from templates to support migration from existing spreadsheets
• Lessee and lessor accounting: Maintains records and generates journal entries for both sides of a lease, including GASB 87 agreements
• GASB 96 accounting: Supports SBITA records, subscription amortization schedules, and payment reporting

Pricing: EZLease doesn’t publish a current rate card or pricing formula on its product page.

G2 rating: 4.5/5

Choosing the Right GASB 87 Lease Accounting Software

GASB 87 lease software should fit the agreements your entity manages and the reporting your team prepares. For a city leasing buildings to tenants, lessor accounting may be a priority. A public university with software subscriptions may also need GASB 96 support alongside its lease records.

A useful demo follows one agreement from the original contract through calculations, a subsequent amendment, and year-end reporting. Involving the staff who prepare and review those records helps reveal whether the platform supports the full process or leaves gaps your team must handle manually.

For teams managing contract extraction, ongoing modifications, and audit documentation, Trullion offers an auditable AI approach. It extracts lease data from PDF and Excel documents and produces GASB 87 schedules, journal entries, and disclosures that trace back to source records. That connection helps preparers and reviewers follow how contract terms become reported balances.

Book a demo to see how Trullion automates audit-ready GASB 87 lease accounting.

GASB 87 Lease Accounting Software FAQs

What makes a lease GASB 87?

An agreement generally falls under GASB 87 when it gives an entity control over the use of another entity’s nonfinancial asset for a period of time in an exchange or exchange-like transaction. Examples include leases of buildings, vehicles, and equipment. Control means having both the right to obtain the asset’s present service capacity and the right to determine how it’s used.

Certain arrangements are treated differently or fall outside the standard’s scope. For example, short-term leases receive simplified accounting when the maximum possible term is 12 months or less, including extension options.

Is GASB 87 the same as ASC 842?

No. GASB 87 applies to entities that follow GASB standards, including state and local governments, while ASC 842 applies to entities that follow FASB standards. Both generally bring lease assets and liabilities onto the balance sheet, but their accounting models differ.

GASB 87 generally uses a single financing model for leases within its scope. ASC 842 distinguishes between finance and operating leases for lessees, which affects expense recognition. Software supporting ASC 842 therefore needs specific GASB functionality to handle government reporting.

Do governments need separate software for GASB 96?

Governments don’t need separate software if their platform supports both GASB 87 leases and GASB 96 subscription-based IT arrangements. However, GASB 87 coverage alone doesn’t mean a system supports GASB 96.

The platform should calculate subscription assets and liabilities, handle implementation costs appropriately, and produce the required disclosures. A system that only tracks subscription payments won’t cover the full accounting requirements.

Can we manage GASB 87 in spreadsheets?

Managing GASB 87 in spreadsheets means your team must maintain lease calculations, update schedules after modifications, and reconcile journal entries and disclosures manually. Formula errors, inconsistent versions, and missing documentation can make balances difficult to support during an audit.

A small, straightforward portfolio may be manageable with documented assumptions and review controls. As the portfolio grows, you may need to move beyond spreadsheets, especially if your team struggles to keep schedules current or explain differences between records.

How much does GASB 87 lease accounting software cost?

Most vendors quote custom pricing instead of publishing rates. Price usually depends on the number of leases and subscriptions you manage, the standards you need, and whether you add modules such as GASB 96 or data extraction. Implementation, data migration, ERP integration, training, and ongoing support can add to the first-year cost, so ask for a quote that itemizes each one.

How to switch from spreadsheets or another GASB 87 tool?

Most governments adopted GASB 87 for fiscal years beginning after June 15, 2021, so today’s buyers are usually replacing an existing process, not implementing the standard for the first time. Start by collecting your current lease and subscription contracts, plus the schedules and assumptions behind your reported balances.

Next, load the contracts into the new platform and confirm that its opening balances match your last audited figures before you post any entries. Plan the switch around your fiscal year-end, so your team isn’t reconciling two systems during audit fieldwork.

Some platforms extract lease terms directly from PDF and Excel contracts, which cuts down manual data entry during migration. Whichever tool you choose, keep a record of every adjustment you make during the switch, so auditors can follow how the old balances became the new ones.