Of the roughly 100 accounting tools in the CurateSuite catalog, exactly two carry the lease accounting tag. Both are good at what they do. They are not substitutes: one books your own lease entries, the other checks entries someone else already booked.
The pressure behind both comes from ASC 842 and IFRS 16. Since those standards landed, a lessee has to put nearly every operating lease on the balance sheet as a right-of-use asset and a lease liability. The old off-balance-sheet treatment is gone. That single change is why firms now need lease-specific software rather than a spreadsheet and a prayer.
Here are the two tools and which buyer each one fits.
- For a firm that books its own operating lease entries and needs lease accounting inside its main ERP: Netgain's NetLease product, detailed later. It is also the fixed-asset specialist covered in the Best Fixed Asset Management Software (2026) guide.
- For an audit engagement team or a finance team validating lease entries already booked in another system, and for pulling lease terms out of contract documents with AI: Trullion. The same company also sells tools for statement validation and document matching, covered in the AI Tools for Tax and Audit: 2026 Firm Guide.
What ASC 842 and IFRS 16 actually require
ASC 842 applies to US companies; IFRS 16 is the international equivalent. Both standards require a lessee to recognize a right-of-use asset and a lease liability for most leases longer than 12 months, according to Deloitte's IAS Plus summary of IFRS 16.
The standard still forces a split between finance leases and operating leases. A finance lease front-loads expense: interest on the liability plus amortization of the asset, higher in early years. An operating lease records a single straight-line lease expense each period, even though the balance sheet shows the same right-of-use asset and liability as a finance lease.
Why this matters for software selection: the tool has to run that classification test correctly and post the right journal entries every period for every lease. Get the classification wrong, or post the wrong expense shape, and the P&L is wrong without any error message. That is table stakes for both tools here.
This comparison comes from the published scope and pricing details in each vendor's own materials, normalized the same way across the catalog. The point is the segmentation.
Netgain's NetLease is built to book your own entries. It lives natively inside NetSuite, and NetLease and NetAsset also run standalone against any ERP, including QuickBooks Online. If your firm needs lease accounting in the same system where the rest of the books live, that is the job.
Trullion is built for the other side of the ledger. The vendor describes it as "auditable AI," and every output is meant to trace back to a source document or standard. If an audit team is testing lease entries, or a company is validating what a different system already booked, that is the job.
Reframing the purchase decision this way makes the shortlist trivial. Are you booking the lease, or checking the lease? If you are booking it, NetLease. If you are checking it, Trullion. Trying to use either tool for the other job is where buyers go wrong, and it is exactly why the catalog shows only two tags instead of a long list of contenders.
| Product | Built for | Standards covered | Pricing model | Best fit |
|---|
| Netgain (NetLease) | Finance teams booking their own lease entries | ASC 842, IFRS 16, GASB, FRS 102 | Quoted per deal, based on lease and asset counts; no flat published rate | Firms that need lease entries in their core ERP, especially NetSuite or QuickBooks Online |
| Trullion | Audit and finance teams validating or abstracting lease data | ASC 842, IFRS 16, plus statement validation and document matching | Custom pricing after demo; no listed free trial | Mid-size and larger firms, audit engagement teams, real lease exposure |
Netgain and NetLease: booking your own entries
Netgain's lease accounting product is NetLease. It covers ASC 842, IFRS 16, GASB, and FRS 102. The same vendor sells NetAsset for fixed assets, NetClose for reconciliations, and NetCash for cash management.
Deployment is the differentiator. All Netgain products run natively inside NetSuite. NetLease and NetAsset also run standalone against any ERP, including QuickBooks Online. That makes Netgain one of the few ways to get real lease accounting inside QBO without manually recreating the schedules in Excel.
Pricing is quoted per deal. The basis is the number of leases or assets, never seats, and there is no flat published rate. A free trial is available. For small portfolios outside NetSuite, the standalone option was historically free, which matters for firms with two dozen leases and a QBO file.
Source for Netgain's scope and pricing approach: Netgain's NetAsset page.
The non-fit is straightforward. A firm with no leases, or one that already runs leases through NetSuite's built-in module and is happy with it, has no use for NetLease. The founders are former auditors, and the output is framed as audit-ready, which is the pitch for firms that want their own entries to survive an outside review.
Trullion: checking and abstracting lease data
Trullion covers ASC 842 and IFRS 16, with other modules for statement validation and document matching. The headline is "auditable AI," meaning every output traces back to a source document or a standard. The lease abstraction AI pulls payment schedules, term lengths, and discount rates directly out of lease contracts and other documents. That is the secondary capability some buyers search for under "lease abstraction ai."
The buyer profile matters here. Trullion is aimed at audit engagement teams and mid-size or larger firms with real lease exposure, not solo practitioners. A sole practitioner with three operating leases will find Trullion heavier than needed; a regional firm with a 40-lease client and an audit deadline will not.
Pricing is custom, a demo is required, and there is no free trial listed. The vendor positions the product globally. Source: Trullion.
Buying guidance: run it or check it
The whole lease-tool decision reduces to one question: are you running the lease accounting, or are you checking it?
- Running it means you book your own right-of-use asset and lease liability, and you need entry-level software in your ERP. That is NetLease.
- Checking it means the entries already exist somewhere else, and you need to validate them, trace every figure to a source document, or abstract a portfolio of lease contracts. That is Trullion.
Two practical cautions.
First, look at what your current ERP already covers before buying a point solution. Some core ledgers now ship basic lease modules. Check the core ledger and bookkeeping tools category before paying for something you already own.
Second, a technical accounting team that owns lease accounting often makes the same buy for fixed assets and revenue recognition. Netgain sells all three in one suite. Trullion sits on the audit side. If you are already choosing between these two for leases, you have probably just made the same decision for the other two topics.
If you are still unsure which side of the ledger you sit on, the CurateSuite matchmaker turns that into a two-minute questionnaire instead of a vendor call.
Common questions
Does ASC 842 or IFRS 16 really put operating leases on the balance sheet?
Yes. Both standards require a lessee to recognize a right-of-use asset and a lease liability for most operating leases. The off-balance-sheet treatment is gone.
Netgain vs Trullion: which one should I choose?
If you book your own lease entries, Netgain's NetLease is the fit. If you validate or abstract lease entries already booked elsewhere, Trullion is the fit. They are not substitutes.
What does lease accounting software cost?
Netgain quotes per deal based on lease and asset counts, never seats, with a free trial available and historically free standalone options for small portfolios. Trullion prices custom after a demo, with no free trial listed.
Does QuickBooks or Xero handle lease accounting?
Neither QuickBooks Online nor Xero carries a lease-accounting tag in the CurateSuite catalog. NetLease is a common way to add lease accounting on top of QBO.
