NetLessor 2023.1

NETLESSOR VERSION 2023.1 KEY UPDATES 

  • Percent Payment Uplifts
    • First, navigate to NetLessor > NetLessor Setup > System Setup and check the "Payment Uplifts" checkbox on the System Features subtab
    • Next, navigate to NetLessor > Lease Management > New Lease and open up the Payment subtab to see 3 new fields
      • Uplift Frequency
      • Uplift Percentage
      • 1st Uplift Date
    • When populated, these fields will automate the creation of NetLessor Lease Payment records based that gradually increase by the uplift percentage 
  • Invoicing
    • Grouped Invoicing
      • Navigate to NetLessor > NetLessor Setup > System Setup to set a "Default Grouped Invoice Saved Search" that contains a NetLessor Lease saved search with a grouped result field (e.g. Customer)
        • Automated Invoicing (NetLessor > Process Monthly Transactions > Monthly Invoicing) will default to group invoices by the same grouping on the Grouped Invoice Saved Search
        • Individual lines on the grouped invoice can be summarized or detail can be preserved by adjusting the "Default Invoice Line Summarization Preference" field in NetLessor > NetLessor Setup > System Setup
    • Billing Day
      • New "Default Billing Day" field on the NetLessor Lease Type and new "Billing Day" NetLessor Lease record itself will define the transaction date of any invoices generated via Automated Invoicing
  • Reporting
    • New report waterfall style reports to forecast payments and interest into the future
      • Lease Payment Waterfall Report
      • Lease Interest Income Waterfall Report    
  • Import Tools
    • Navigate to NetLessor > NetLessor Setup > System Setup to view the new Import Tools tab which contains the following
      • CSV import templates for the import of Leases, Lease Types, and Lease Payments
      • Knowledge Base Request Page
        • Request access to this knowledge base on behalf of another user
      • NetLessor Permissions Importer Tool
        • Allows user to quickly import NetLessor custom record and custom transaction permissions to multiple roles at once
  • Miscellaneous
    • Auto approval of auto-renewals
      • Navigate to NetLessor > NetLessor Setup > System Setup and set the "Auto Renewal" setting to "Approved"
        • This will cause all auto-renewals to run automatically without approval
    • Custom Filter Updates
      • Added the ability to set a default value for the custom filter
      • Added the ability to apply the custom filter to a specific script deployment
    • Non-Lease Payments 4 and 5
      • Two additional Non-Lease Payment fields available on the NetLessor Lease Payment record for tracking and invoicing different types of payments on leases
    • IFRS Lease Classification
      • New lease classification, Finance (IFRS), with similar accounting impacts as the Sales Type lease classification
    • Default Script Priority/Concurrency
      • Elect to set the concurrency (# of queues) and relative priority of all NetLessor map/reduce scripts in bulk
    • Custom Sourcing account filters to be applied by account field, not the specific account entered to avoid issues with accounts used across different fields
    • Users to receive warning when payments are edited on a locked lease
  • Fully tested for the NetSuite 2023.1 Release

WHAT DO YOU NEED TO DO?

    • Your NetSuite Administrator should follow the instructions outlined here for getting the upgrade
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