NetLease 2024.2

  • Auto-numbering

    • Navigate NetLease > NetLease Setup > System Setup and select from the following auto-numbering preferences:
      • Default: Uses the prefix and the numbering conventions laid out directly on the NetLease Lease custom record.
      • Manual: Forces users to specify the lease ID manually whenever creating a new lease record.
      • Custom: Allows user to specify their own lease ID prefix.
      • Lease Type: Uses the lease prefix listed on the lease type record and numbers according to the number of leases within that lease type.
      • Subsidiary: Uses the lease prefix listed on the subsidiary record and numbers according to the number of leases within that subsidiary.

  • Close Outs

    • Updated final period logic to automatically close out cash basis leases when the last amortization entry is posted.
    • Added new "Close Out Date" field to the lease record to facilitate reporting on asset balances that remain on the books after the lease term is over.

  • FX

    • Added support for FX adjustments when the base currency of the primary accounting book/subsidiary combination is different than the contract currency of the lease.
    • Added support for posting of FX adjustments on the partial-month amortization entries prior to mid-month modifications.

  • Modifications

    • Added support for true ups in period 1 of the amortization schedule.

  • Percentage Rent

    • New percentage rent global setting, Monthly Breakpoint Expense Accrual, facilitates the monthly percentage rent accrual towards the sales breakpoint that is trued up against actual sales month over month.

  • Reporting

    • Added new disclosure report, Weighted Average Term Report, which combines the Weighted Average Term Inputs and Weighted Average Term Summary reports and allows for consolidated weighting of the lease liability balance over the remaining term.
    • Added new disclosure report, Weighted Average Rate Report, which combines the Weighted Average Rate Inputs and Weighted Average Rate Summary reports.
    • Updated Weighted Average Rate Summary Report to format rates as percentages instead of decimals.
    • Updated Weighted Average Term Summary Report to display both Weighted Term in both months and years.

  • Schedule Generation

    • Added the ability to provide a default payment frequency on a lease.
    • Added new field to lease, Uplift Frequency Multiplier, which allows users to use custom uplift frequency (i.e. setting Uplift Frequency to Months and Uplift Frequency Multiplier to 2 will result in an uplift every 2 months).

  • Miscellaneous

    • Updated all suitelet pages to pull department, class, and location names in the account from the lease record.
    • Added option to hide the navigation sidebar for all users in the system setup.
    • Added a new field to the NetLease Custom Sourcing record, "Populate Post-Sourcing / Filtering of Field" that facilitates the ability to populate a field on a transaction only after the filtering field is entered.
    • Added new button, "Topside Journal", to the lease schedule line that redirects to a journal entry where lease and schedule line will automatically be populated.
    • New G/L impact sublist added to the schedule line record showing the posted impacts of the line.
    • New admin report, NetLease Untagged Transactions, shows all transactions with leases tagged but missing schedule line tags.
    • Updated help links to point to Capacity instead of Doc360.
    • Added the ability to block Netgain from performing managed upgrades via new global setting, Block Managed Upgrades.
    • Added a control to prevent un-installation of the bundle if any transactions had been posted by the bundle unless new global setting, Allow Uninstalls, is enabled.
    • Various bug fixes (see minor release notes).
    • Fully tested for the NetSuite 2024.2 release.
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