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Steinway Musical Instruments, Inc. hits the Right Note with LeaseQuery and Sage Fixed Assets

Steinway Musical Instruments, Inc., a leading manufacturer and distributor of musical instruments, was accounting for their leases manually through the utilization of multiple spreadsheets, prior to implementing the new ASC 842 lease accounting standard.

With a significant number of leases recognized for capitalization under the new accounting standard—and plans for continued growth across the globe that will only add to that number—the manual processes Steinway had in place were not reliable given the complex requirements brought about by the new standard. Upon attending an ASC 842 training co-hosted with LeaseQuery’s valued partner, Sage Fixed Assets, Steinway immediately saw the benefits of a lease accounting solution and how it could simplify their ASC 842 transition—just as Sage Fixed Assets simplified their owned asset management for tax calculation purposes.

Download Steinway Musical Instruments, Inc. hits the Right Note with LeaseQuery and Sage Fixed Assets Whitepaper

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