Netgain Blog

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The history of accounting technology: From clay counters to cloud software

Trace the history of accounting tools from the birth of the practice to the technological innovations of the present.

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Netgain Expands Global Footprint with New Office in Sydney to Serve the APAC Region

Netgain, a leading software provider for accounting teams, announced its expansion into the APAC region with the opening of its new office in Sydney, Australia.

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Day count convention guide: Definition and best practices

Learn the most common types of day count conventions, how they're calculated, and how they impact interest accruals on loan and bonds.

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Bridging the gap: How accounting technology can ease the impact of the accountant shortage

The shortage of qualified accounting professionals presents a challenge to businesses. Accounting technology can resolve some of the burden on overworked teams.

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The top 7 NetSuite integrations for businesses in 2024

NetSuite integrations can add completely new functions to an already impressive catalog of tools. Read the best NetSuite integrations in 2024.

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3 reasons 2024 is a good time to be an accountant

Discover why 2024 is a prime time to excel in the accounting industry. Read the benefits and opportunities for accountants today and in the future.

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How to improve your NetSuite instance with SuperSync Integrations by Netgain

Discover how SuperSync Integrations can enhance your NetSuite usage with seamless financial data synchronization.

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Netgain announces $35 million investment from Summit Partners to accelerate its mission to modernize accounting

Netgain, a leading software provider for accounting teams, today announced a $35 million minority investment led by global growth investor Summit Partners.

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Netgain Announces Strategic Acquisition of SuperSync

Netgain — a leader in providing NetSuite-native modern accounting solutions — has officially announced the acquisition of SuperSync,...

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NetLease for NetSuite vs Lease Query for NetSuite

Elevate lease accounting with NetLease: superior reporting, dedicated support, & seamless NetSuite integration. Transform your financial processes efficiently.

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Accounting Automation - What Is It And How Can NetClose Help?

Revolutionize your financial processes with accounting automation. Save time, reduce errors, and boost efficiency with automated tools and software.

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Maximize Your NetSuite Accounting With Netgain

Elevate your financial management with Netgain's real-time insights, automated processes, and cloud flexibility. Maximize NetSuite accounting efficiency today!

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NetLease Tops Lease Accounting Charts in G2 Winter 2024 Reports

See why Netgain's NetLease platform won multiple No. 1 rankings in G2's Winter 2023 reports.

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The Ultimate Guide To Implementing GASB 87

Explore the essentials of GASB 87 with our comprehensive guide. Understand key requirements, implementation steps, tools, and best practices for streamlined compliance and…

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Top NetSuite Compatible Fixed Asset Software For 2024

Discover the best NetSuite compatible fixed asset software for 2024. Our guide for accountants covers key features, integration capabilities, and more.

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Top Loan Management Software For NetSuite

Discover the best loan management software for NetSuite users. Enhance operational efficiency, ensure compliance, and get personalized support with Netgain.

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The Best Automated Reconciliation Software For 2024

Discover the top automated reconciliation software for 2024! Netgain's solutions boost accuracy, integrate seamlessly, and protect your financial data with the…

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The Ultimate Guide To Accounting In NetSuite

Explore the Ultimate Guide to NetSuite Accounting: a comprehensive resource for businesses seeking to optimize financial processes.

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The Best ERP Systems For Your Company

Discover the power of ERP systems for efficient business operations. Learn about key features, benefits, and how to choose the right system for your company.

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Top NetSuite Compatible Lease Software For 2024

Streamline your financial processes with accounting automation. Discover how automated tools and software can save you time, reduce errors, and improve efficiency in your accounting tasks.

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Best Financial Close Management Software in 2024

The best financial close management software in 2024 - Bring close management into NetSuite and streamline the month-end close with automated task management and reconciliations.

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How to Connect NetLease to QuickBooks Online

Simplify lease accounting with NetLease and QuickBooks integration. Efficiently post entries & receive expert support. Simplify your accounting process today!

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Key Considerations when Accounting for Lease Amendments

Discover how to accurately account for lease modifications under ASC 842 with examples. Learn how the top lease accounting software can assist you!

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Navigating GASB 96: Lease Accounting Software for Accountants

Navigate GASB 96 with ease using Netgain's lease accounting software. Discover how you can streamline your lease accounting processes and ensure compliance.

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Everything You Need to Know About ASC 842 Quantitative Disclosures

Learn about the significant changes ASC 842 has brought to lease accounting disclosures, emphasizing the importance of detailed quantitative information.

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NetLease Customer Reviews Say it All - G2 Summer 2023

Netgain achieved outstanding results in G2's Summer 2023 report. Find out why you should choose NetLease over other lease accounting software, and why accountants recommend NetLease by Netgain.

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How To Do Sales Type & Direct Financing Leases – Journal Entries Under ASC 842

Learn how lessors can navigate ASC 842 lease accounting changes and properly book and report their leases. Download our FREE tool to simplify lease accounting.

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NetLease Helps You Meet ASC 842 Quantitative Disclosure Requirements

ASC 842 has brought about changes to lease accounting disclosures. There are several new quantitative disclosures required under the new standards.

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Lease Abstraction With NetLease: Understanding ASC 842

It’s time for companies to transition to ASC 842. NetLease can help you abstract leases so that you understand the new regulation.

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Sales Type & Direct Financing Leases – Journal Entries Under ASC 842

ASC 842 will affect the accounting policies and practices of both parties to any lease agreement. NetLessor can help you meet the demands of ASC 842.

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How NetLease's Lease Abstraction Helps You Adopt ASC 842

NetLease's lease abstraction service can help you abstract information in a way that meets the requirements of ASC 842.

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Free Lease Accounting Software that Actually Works For Any ERP

Some software companies offer a “free trial” of the product, but it ends up being a stripped-down version that lacks the full features of the product.

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ASC 842 Guide to Operating Lease Journal Entries With NetLessor

It can be daunting to start generating journal entries for your operating leases post-transition. Netgain’s suite of applications allow lessors to automate the accounting for any type of lease.

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NetAsset Makes CIP Process and Roll Forward Reports Easier in NetSuite

In this post we lay out several major benefits of NetAsset - an advanced fixed asset module built on the NetSuite platform.

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Short-Term and Low-Value Lease Accounting under ASC 842 & IFRS 16

Discover the new accounting standards for short-term & low-value leases under ASC 842 and IFRS 16. Learn about the rules, benefits, & exemptions for lessees.

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Intercompany Transfers Made Easy—Asset Edition

Intercompany transfers don’t need to be a big pain. Simplify the accounting and automate the process with NetAsset.

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How Sale-and-Leaseback Accounting Works with Examples

Discover the complexities of sale-leaseback transactions with our helpful guide. Learn how to evaluate control transfer and determine if a sale has occurred.

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Everything Account Reconciliation

Account reconciliation is an essential part of a company’s operations. Products like NetClose can help accountants with the stress of month-end and year-end entries and account reconciliation.

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ASC 842 Transition Disclosure Template

Simplify your financial disclosures with our ASC 842 Transition Memo Template. Start saving time today with Netgain. Get your full text disclosure template now!

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New NetLoan Features Make Loan Servicing and Accounting Easier than Ever

Loans are vital to most businesses because they represent the lifeblood needed to take their growth to the next level. Sounds exciting, right?

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The Best Software for Auditing ASC 842

Transition smoothly to ASC 842 using software. Time's ticking for fiscal year-end compliance. CPAs face unique challenges.

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What is Percentage Rent (and How Do I Automate It?)

Percentage rent can tie rent costs directly to sales, which can be a good option for businesses with fluctuating sales. If you have a percentage rent contract, automate payments in your financial syst

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What Happened to Deferred Rent under ASC 842?

Discover how NetLease by Netgain simplifies ASC 842 transition, ensuring GAAP compliance by replacing deferred rent with ROU Asset and Lease Liability.

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Fixed Asset Management In NetSuite

Elevate fixed asset management in NetSuite with automated solutions. Enjoy streamlined processes, real-time visibility, and compliance ease—all in one platform.

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Transitioning Capital/Finance Leases to ASC 842

Transitioning to the new standard for capital/finance leases under ASC 842? Our article simplifies the process. Save time and headaches with our free tool!

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How to Allocate Transactions in NetSuite to Segments and Subsidiaries

Easily split expenses and items between different segments with Shared Transactions by Netgain. Simplify your P&L verification process in NetSuite today!

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Understanding ASC 842, IFRS 16, & GASB 87

If your business deals with leases, the new lease accounting standard (ASC 842, IFRS 16 or GASB 87) is most likely quickly rising on your to-do list.

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Lessors, Lessees and the New Lease Accounting Standards

User Lessors and Lessees both have bookkeeping obligations under ASC 842 that can easily be automated with Netgain software solutions.

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ASC 842 Lease Accounting: Simplifying And Automating Accounting Processes

Understanding ASC 842 lease accounting: Learn about the changes, compliance requirements, and benefits it brings to financial reporting and decisions.

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Exploring Operating vs. Finance Lease Journal Entries and Amortization Calculations

Explore the impact of lease classifications on income statements. Consider structuring lease agreements as finance-type leases for EBITDA-centric companies.

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Loan vs. Lease (A Seller’s Guide)

Discover the best option for your business with our free leasing vs. loan comparison tool. Make informed decisions to maximize tax advantages & long-term goals.

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FASB’s Proposed Changes to Related-Party Lease-Accounting Guidance

Getting lease agreements in writing between related parties has immense benefits. If the deal is on paper, then there will be no need to do an analysis of legal enforceability.

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Smooth Sailing: Strategies For Successful Lease Management

Unlock the Power of Lease Management with Streamlined Strategies: Your Guide to Smooth Operations. Get the most out of your lease management with our...

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Mastering The New Accounting Lease Standard: What You Need To Know

Stay up to date on the new lease standard in accounting with our comprehensive guide. Get insights and learn how to stay compliant with the changes.

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Deciding to Lease or Buy an Asset: Financial Statement Implications

Understand leasing vs. purchasing's financial impact. Crucial for financing, valuations, and cash flow. Explore options with provided tools.

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The Easy Way to Achieve Robust Asset Tracking and Asset Revenue Management

Creating and maintaining a useful big-picture understanding of rental assets is no mean feat.

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It’s Time to Automate Account Reconciliation

Automate tedious account reconciliations for efficiency and accuracy. Simplify monthly close with NetClose software.

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The Three Red Herrings of ASC 842 (What Not to Worry About)

Do not fall victim to wasting time on one of the three red herrings of ASC 842: lease classification, Incremental Borrowing Rate (IBR) and embedded leases.

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Automated Billing in NetSuite—Improve Your Billing Process with the Click of a Button

Automate lease billing for efficiency, accuracy, and timely processing. Invest in user-friendly software for seamless automation.

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Lease Modifications: Everything You Need to Know for 842

Skip the treacherous spreadsheet and simplify ASC 842 modifications with NetLease software. Automate recalculations for organized and consistent handling.

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Finance Leases: How to Measure Them and Put Them on Your Books

Finance leases are the new capital leases. Follow outlined criteria for lease classification and consider NetLease for automated accounting.

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A Guide to ASC 842 Adoption Reliefs

Streamline ASC 842 adoption for audit clients by leveraging practical expedients. Help clients understand easier options for new lease standards.

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How to Account for Leasehold Improvements under ASC 842 and ASC 840

Discover how ASC 840 and ASC 842 impact leasehold improvements and incentives. Learn how to properly account for these assets and amortize incentives.

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How to Calculate ROU Asset Balance for an Operating Lease under ASC 842

Accurate ROU balance-sheet calculations are crucial for lease-accounting compliance. Use the information in this article to nail it!

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How to Account for Leases Acquired in a Business Combination under ASC 842

Discover how leases are handled when businesses combine. Learn about the allocation of purchase price & the importance of market terms in accounting for leases.

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How to Transition to ASC 842 for Free

Yes, you can transition for free on NetSuite. NetLease Go Free provides powerful lease accounting tools and compliance at no cost.

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How to Create Recurring Revenue for Your Firm with Lease Accounting Software

Let’s look at the steps and benefits associated with generating recurring revenue through a lease-accounting software solution.

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The Easy Way to Handle Dual Financial Reporting Requirements

Simplify dual financial-reporting requirements with Netgain’s multi-book-enabled NetSuite app, NetLease. Save time and reduce errors by automating the process.

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Why Use NetLessor and NetAsset Together

Discover the benefits of integrating lease accounting & asset accounting with NetLessor & NetAsset. Connect records, automate functions, & simplify reporting.

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Efficiency and Innovation Are Key to a Successful Audit Season

Uncover the secrets to a successful audit with the right tools. Find the perfect balance between efficiency and effectiveness. Explore ASC 842 for Auditors.

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The Benefits of Integrated Book and Tax Asset Records

Integrating book and tax asset records can alleviate manual work and reduce the cost of tax-return preparation.

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Are Your Audit Clients Prepared for ASC 842?

Don't let lease accounting complexities overwhelm you. Our lease accounting software tool simplifies ASC 842 compliance.

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Can I Adopt ASC 842 with Spreadsheets? Transitioning to the New Accounting Standards in 2022

Is it possible to adopt ASC 842 in spreadsheets? Yes. Is it easy? No. Save time, reduce the risk of error, and get peace of mind knowing you are compliant with a trusted lease-accounting solution.

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Unlock The Power Of Automation: Discover The Benefits Of A Lease Management System

Automate your lease management system to streamline processes and unlock powerful benefits like increased efficiency, better visibility, and improved...

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Why Audit Clients Need a Software Solution

As an auditor, it's worth your time to warn clients that the traditional Excel approach won't work with the complex requirements of ASC 842. Any cost savings will be outweighed by the drawbacks.

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ASC 842 Transition Blueprint & Workbook

Learn how to transition to ASC 842 with a free Excel template. Lessees are required to apply a one-time modified retrospective transition approach.

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The High Risk of Auditing Leases in Excel

Don't make more work for yourself by trying to audit leases in excel. It's not a good idea. In this article, we break down the reasons why excel is difficult for ASC audit and better alternatives

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Issues with Leases in a Foreign Currency FX (ASC 842)

For US based organizations that are applying ASC 842 to their international leases denominated in a foreign currency (FX). Also for international businesses

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Do I Need to Book Accruals and Amortizations?

Accruals and amortizations don’t need to be difficult. When tracked & booked during the month-close process, it's easier to understand the impacts of deferred payments & revenue on company resources.

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How to Build a Better Month-End Close Process

Here is a checklist to help with monthly closing the books at small, mid-sized, and large businesses.

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How to Integrate Your Close Management Solution

Discover how NetClose, an embedded app for NetSuite, streamlines your close process. Close your books seamlessly and reduce risks.

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How to Prepare the Perfect Year-End Close

How to make your year-end book close clean, easy, and worry-free. The secret is: stay on top of monthly closing. It pays off in the end.

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Don’t Be Surprised by Embedded Leases under ASC 842

This article will discuss what an embedded lease is, best practices in identifying embedded leases, and some commonly asked questions.

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Short-term lease exemption

Take a look at the Short-Term Lease Exemption and if you should elect to take it and how the renewal option should be handled under ASC 842.

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Accounting for Variable Lease Payments

In lease accounting, take time when trying to identify and allocate variable payments. Easily make modifications to your contracts in NetLease.

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Lease Incentives: What to do when timing is uncertain?

If the timing of a lease incentive is uncertain, enter the lease incentive details at the commencement of the lease and add a payment after it is received.

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January 2022 and lease accounting... Now What?

The dreaded January 1, 2022, deadline to become compliant with ASC 842, IFRS 16 and GASB 87 accounting standards is now here.

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Accounting is evolving: are you ready?

In 2022, accounting and finance firms should stay current on upcoming trends and pivot to adjust procedures. Look to five areas where change could happen.

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Must Read Articles Related to ASC 842 and IFRS 16

Learn from these accounting experts and take these steps now, to ensure you are compliant and have a solution to lease accounting reporting.

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Headaches gone with a click of a button - for lease accounting

All accountants are looking for a quick and easy solution for the nagging problem of ASC 842, IFRS 16 and GASB 87 compliance. Learn how in this blog post.

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Don’t have a lease accounting expert … what should we do?

With NetLease Go Free, you do not have to be an expert to stay compliant and manage your leases according to the applicable standards.

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Should I replace my excel tracking with lease software?

Excel is the catch all in the accounting world. We have all created spreadsheets that become cluttered but essential to our processes.

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NetLease FAQs

Lease accounting can be stressful. Especially when you are just getting started on a new standard. See what our customers are asking and how we can help.

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When to Start Your Lease Accounting Project

Understanding how and when to start the transition of your business's leases from ASC 840 to ASC 842 can be difficult to determine.

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How do I know if I have a lease?

To comply with the lease standards, companies need to identify their entire collection of leases and it is easier with the NetLease app in NetSuite.

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How do I know if I need to comply with ASC 842?

How do you know if your company needs to update its procedures to comply with these standards before January 1, 2022?  (ASC 842, IFRS 16, or GASB 87)

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5 Steps to Lease Accounting Compliance

Learn five different approaches to become lease accounting compliant. ASC 842 deadline is January 1, 2021.

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3 Approaches to Calculating Your Lease Liability

Short-term or long-term: which approach to calculating lease liability is best for you? Learn the different approaches – it’s as easy as 1, 2, or 3.

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FAQ Series: Calculating Incremental Borrowing Rates (ASC 842)

For public companies, FASB has issued a practical expedient to help ease the pain of calculating incremental borrowing rates.

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ASC 842 Lease Amortization Schedule Templates in Excel | Free Download

Download our ASC 842 lease accounting spreadsheet template & easily create an operating lease schedule that complies with ASC 842 requirements.

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