NetLease Upload Template Headers
Use Case:
This article will define the purpose of each tab and field of data found in the NetLease Upload Template. The following 3 tabs will be outlined:
Lease Header Detail Tab:
This tab should include every lease that will be uploaded to the NetLease system. Note that the fields highlighted in gray below are the fields that will be used to calculate the lease schedule and any associated journal entries.
| Name | Required | Description | Example |
| Lease ID | Auto-generated | A unique ID for the lease and the primary identifier within NetLease for the lease record. ID can be manually selected by the user. If left blank, the ID will be auto-generated. | LA0037 |
| Lease Name | Yes | Free form input for NetLease users. This can be used for the lease contract # or other identifying information for the leased asset. | 17 Cherry Tree Lane, London KY |
| Lease Classification | Yes | Options are Financing, Operating, Short Term / Low Value, Cash Basis (Non-GAAP), or Sublease - Operating. US GAAP companies generally will select from Operating or Financing; IFRS companies generally will select Financing. | Financing |
| Lease Type | Yes | Assign the lease type from the drop-down list, which are defined as part of global settings. | Real Estate |
| Subsidiary | Yes | The subsidiary where the ROU Asset and Lease Liability will reside. | Company, Inc. |
| Subsidiary Internal ID | Yes | The Internal ID (found in NetSuite) of the subsidiary where the ROU asset and Lease Liability will reside. | 4 |
| Vendor | Yes | The Lessor of the leased asset. This is the vendor to whom lease vendor bills will be paid. | McGeever Properties |
| Vendor Internal ID | Yes | The Internal ID (found in NetSuite) for the Lessor of the leased asset. This is the vendor to whom lease vendor bills will be paid. | 622 |
| Currency | Yes | The contract currency for the lease, typically the currency in which payments will be made. This defaults to the Vendor’s primary currency. | US Dollar |
| Lease Notes | No | A text area field to include any relevant notes or lease-related information. | NNN; no renewal |
| Status | Yes | Pending = tables can be created, but transition or amortization journals will not Commenced = the lease is ready for postings Complete = the lease has reached termination date Terminated = the lease was terminated early. | Commenced |
| Commencement Date | Yes | The date on which a lessor makes an underlying asset available for use by a lessee. | 1/1/2019 |
| End Date | Calculated (unless lease uses partial month) | The anticipated ending date of the lease, which is calculated (commencement date + lease term). *Note that if using partial month convention, this end date must be manually input. | 12/31/2021 |
| Initial Lease Payment | Yes | Payment to be applied in the commencement month of the lease. For fixed payment leases, this represents the monthly payment for the duration of the lease. For variable payments (any lease where payment vary throughout the life of the lease), this represents the first payment following commencement. Future payments are updated on the Payments subtab. | 8,000.00 |
| Lease Term (Months) | Yes | The anticipated duration (in months) of the lease (i.e. period includes options the lessee is reasonably certain to exercise). | 36 |
| Discount Rate % | Yes | The annual discount rate used to determine the present value of the lease liability calculations (i.e. implicit rate of lease or incremental borrowing rate). | 5.00% |
| Lease Incentives | No | Payments made by a lessor to a lessee before the commencement date (reduces ROU asset; offset to ROU clearing account). | 1,000.00 |
ROU Adjustment | No | On transition from ASC 840-842, this field represents the balance of the deferred rent at adoption date. | 200 |
| Initial Direct Costs | No | Incremental costs of obtaining a lease that would not have been incurred if the lease had not been obtained (increases ROU asset; offset to ROU clearing account). | 500.00 |
| Prepaid Lease Payment | No | Any lease payments made before the commencement date (increases ROU asset; offset to ROU clearing). | 8,000.00 |
| Department | No | The department where the ROU asset and Lease Liability will reside. | Sales |
| Department Internal ID | No | The Internal ID (found in NetSuite) of the department where the ROU asset and Lease Liability will reside | 1 |
| Class | No | The class where the ROU asset and Lease Liability will reside. | Personal Protective Equipment |
| Class Internal ID | No | The Internal ID (found in NetSuite) of the class of ROU asset. | 13 |
| Location | No | The locations where the ROU asset and Lease Liability will reside. | Chicago Distribution Center |
| Location Internal ID | No | The Internal ID (found in NetSuite) of the locations where the ROU asset and Lease Liability will reside. | 7 |
| Assigned To | No | Employee that the lease is assigned to. | Jane Doe |
| Parent Lease | No | Used to connect multiple leases that have a parent-child relationship (e.g., separate lease components under a single lease or modification resulting in separate leases). | LA0005 |
| Variable Rate Index | No | If the lease contains variable lease payments that are dependent on a rate index, select the variable rate index the payments are dependent on. See Manage Index Rate Types article for setup of these rates. Note that this field is currently informational to support reporting & disclosures. | CPI |
| Variable Non-Lease Payments | No | Select applicable type of variable amounts payable on the lease. Non-lease components identified here are NOT to be included in calculation of the lease payments impacting ROU Asset & Lease Liability, but are to be included in the Vendor Bill and expensed as incurred. Note that this field is currently informational to support reporting & disclosures. | % Sales or Receipts |
| Residual Value Estimate | No | Input the estimated residual value of the leased asset. This field captures this information for disclosure reporting. | 20,000.00 |
| Residual Value Guarantee | No | Check this box if there is a Residual Value Guarantee. This field is informational to capture requirements for disclosure reporting. | Yes |
| 840 Lease; To Convert At Adoption | No | Check this box if a lease is currently under ASC 840 and will be transitioned to ASC 842 in NetLease. | Yes |
| No GL Impact | No | If selected, this lease will not have any general ledger activity (e.g., the lease is for management tracking purposes only but should not impact the financial statements) | Yes |
| TBD 1 | No | These columns are to include any desired fields that are not included in another column. | Address |
Lease Payment Schedule Tab:
This tab should include data for changes in lease payments. A single lease needs to include a new set of data for each change in payment. Note that leases that don't have changes in payment don't need to be included on this tab.
| Field Name | Required | Description | Example |
| Lease ID | Auto-generated | A unique ID for the lease and the primary identifier within NetLease for the lease record. This lease ID will match the lease ID from above if it is not system generated. | LA0037 |
| Lease Name | Yes | Free form input for NetLease users. This can be used for the lessor’s contract # or other identifying information for the leased asset. This lease Name will match the Lease Name from above if it is not system generated. | 17 Cherry Tree Lane, London KY |
| Concatenated Name | Yes | This column should be a concatenation of the Lease ID and the Lease Name. | LA00370 17 Cherry Tree Lane, London KY |
| Payment Date | Yes | The date the payment changes | 12/31/2023 |
| Payment Frequency | Yes | The frequency of the payment after the change | Monthly |
| Payment Amount | Yes | The new payment amount | 9,500.00 |
| Non-Lease Payment 1 | No | Payments for non-lease components. These payments need to be included here even if there aren't changes in payments. | 1,000.00 |
Lease Contract Provision Tabs:
Data included on this tab will be used for informational purposes only (it will not affect the lease schedule). The following lease option types can be included in this tab:
- Renewal Option
- Expansion Option
- Termination Option
- Purchase Option
| Field Name | Required | Description | Example |
| Lease ID | Auto-generated | A unique ID for the lease and the primary identifier within NetLease for the lease record. This lease ID will match the lease ID from above if it is not system generated. | LA0037 |
| Lease Name | Yes | Free form input for NetLease users. This can be used for the lessor’s contract # or other identifying information for the leased asset. This lease Name will match the Lease Name from above if it is not system generated. | 17 Cherry Tree Lane, London KY |
| Concatenated Name | Yes | This column should be a concatenation of the Lease ID and Lease Name | LA0037 17 Cherry Tree Lane, London KY |
| Contract Type | Yes | The contract type:
| Lease Renewal Option |
| Contract Paragraph / Reference | No | The reference to the clause in the contract addressing the contract option. | Pg 3, Article 3(c) |
| Provision Start Date | No | The start date of the contract being entered into (i.e. the start date of the renewal period). | 1/1/2025 |
| Provision End Date | No | The relevant end date of the contract being entered into, This may only apply to specific types of lease contract provisions (i.e. the end date of the renewal period). | 12/31/2025 |
| Key Provision Amount | No | A field for any dollar amounts related to the provision (i.e. the amount due when you exercise the option). | 50,000.00 |
| Latest to Notify Date | No | The last day you can notify the Lessor of your intent to exercise the option. | 12/1/2024 |
| Option Available Date (Renewal Option Only) | No | The date that the option is available (i.e. the date on which you become eligible to exercise a renewal option). | 7/1/2024 |
| Option Term (Renewal Option Only) | No | The length of the renewal (usually in months) | 60 |
| New Lease End Date After Exercise (Renewal Option Only) | No | The new end date after the lease has been renewed. | 12/31/2025 |
| Likely to Exercise Option (Renewal Option Only) | No | Are you likely to exercise the option? | Yes |
| Auto-Renewal / Evergreen Contract (Renewal Option Only) | No | Does the contract auto-renew? | No |
| Provision Exercised Date | No | The date that the option is actually exercised. | 12/1/2024 |
| Provision Exercised Note | No | Any notes related to the exercised provision. | Expanded into 2nd floor of the office building. |
| Clause Details | No | The article paragraph addressing the lease renewal | Pg 4, Article 1(a): Tenant has the right to occupy the 1st and 2nd floors of the office builiding. |
For any additional questions on the NetLease Upload template, please reach out to a member of your implementation team.