Case Study: Cologix achieves an easier ASC 842 transition and streamlined lease tracking with FinQuery

Cologix’s Transition To ASC 842 Was Easier With LeaseQuery

Cologix, a telecommunications company with 57 real estate and equipment leases and ~300 employees, was tracking leases in Excel and needed to comply with the new ASC 842 standard. After evaluating options that could handle the 840→842 transition, provide comprehensive reporting, and be easy for multiple users, Cologix selected FinQuery’s lease accounting software to replace their spreadsheets.

FinQuery worked with Cologix’s team to implement and tailor lease entries, delivering a single repository, cleaner ASC 840-to-842 transition workflows, and built-in reporting that eliminated much of the manual Excel manipulation. Cologix reports faster, more reliable reporting and expects freed-up staff time and a solution that will scale as their lease portfolio grows; the case study did not provide specific quantitative ROI figures.

Cologix

Garrett Sheffield

Assistant Controller