NetLease Latest Release Notes

NETLEASE 2020.3  RELEASE NOTES

Release notes highlight recent product improvements, any necessary action items, and new features to come so you can stay up to date on our product features.

updates in version 2020.3

  • Completed Lease Modifications

    • Allows users to modify a lease after completion, opening up the lease to append additional terms fo (e.g., post completion lease renewals)

    • The Lease Liability is re-established along with the ROU asset and schedules are built out prospectively

  • Lease Termination Reversals

    • Allows users to initiate the reversal of a termination in the event the termination was performed incorrectly

  • Automated Mass Transition from ASC 840 to 842 for US GAAP Customers

    • Allow users currently accounting for leases under 840 to modify to 842 within a single interface. Existing deferred rent balances are applied as net balances in the Lease Liability and ROU Assets (established as of the date of transition)

  • Non-G/L Posting Modifications and Terminations

    • Allows modifications and terminations on leases designated as Non-G/L Posting

  • Additions and Updates to Bundled Reports

    • Additional subledger detail and summary reports

    • Adjusted weighted average reports

  • Bundled NetLease Roles and Centers (Beta Version)

    • Standard bundled roles assigned to a NetLease center

  • Minor Bug Fixes

    • Update the current financial information fields after modification

    • Remaining payment populated on .1 modification schedule lines

What Do You Need to Do?

  • Your NetSuite Administrator should update your NetLease bundle (Customization > SuiteBundler > Search & Install Bundles > List)

  • Reach out with questions on any of the new features

What’s Next?

Here are a few areas we will now be turning our efforts toward for in our next upcoming release(s):

  • Prepaid Lease Amortization Support (Auto-tagging of Lease ID on native prepaid amortization entries from originating vendor bill/transaction)

As always, please reach out to support@netgain.tech for comments and suggestions.

OTHER NETLEASE RESOURCES

NetLease User Guide

NetLease Release Notes Archive

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