NetLessor 2025.1

Accounting

  • Added support for 5 more non-lease payments (up to 10).
  • Updated custom sourcing allocation to apply multiple allocations over the same lines as opposed to using reversal lines.
  • Updated Gross Up NPV calculation logic to round to the fair value in the absence of residual values.
  • Added new field to the lease record, Initial Payment Date, to drive payment schedules that do not start in the same month as commencement.
  • Added the ability to calculation interest lease payment and interest unguaranteed residual value on split NIL in advance.
  • Added new global settings, "Override Billing Date", to allow the user to override the default journal posting dates on any lease.

Invoicing / Credit Memo Generation

  • Added the ability to run multiple months of bills at once.
  • Updated monthly invoicing job to generate credit memos for negative payments.
  • Added the ability to override the type of billing transaction created for a particular lease type.
  • Added "Payment Terms" field to the NetLessor Lease record to set the default Terms on any invoices generated from the lease (e.g. Net 30).
  • Added new global setting, Group Invoices and Credit Memos Together, which when generating grouped invoices specifies whether the system attempts to group credits onto invoices.
  • Added new system feature, Back Billing, which allows users to invoice with a different item and post to a different revenue account whenever billing for a previous period:

    • See new lease type fields: Back Billing Revenue Account and Back Billing Item.

    • See new schedule line checkbox "Back Billing" which drives updates to amortization + invoices produced from the line.
  • Added new global setting, Auto-Apply Credit Memos, which when enabled will automatically checks the "Auto Apply" checkbox on credit memos created by NetLessor.
  • Added new global settings, "Override Billing Date", to allow the user to override the default billing on any lease.
  • Added a new custom record, "NetLessor Fee", as a child record of the "NetLessor Lease" (appearing on the Payments subtab) to allow users to bill for fees on a custom schedule un-tied to the recurring base lease payment.
    • Navigate to NetLessor > NetLessor Setup > Manage Fee Types to drive income account impacts and create templates for commonly entered fees.
    • Fees can be added or edited at any time to impact future month charges.  Editing a fee line will not impact prior periods.
  • Updated invoice grouping logic to still include lease tags on the line if the grouping has only 1 lease.

Lease Creation

  • New global settings, "Generate Schedule on Lease Creation" and "Regenerate Schedule on Lease Save", which when enabled will automatically generate the schedule on lease creation and regeneration respectively.
  • Added new lease term unit option, "Months (To Date) From Initial Payment Date", to allow the user to set the lease term to the number of months remaining from the initial payment date.
  • Added new Auto-Numbering Preference, Internal ID, guaranteeing the number in the lease ID matches the internal ID of the lease.

Modifications

  • Added support for cash basis true ups.
  • Added the ability to adjust the commencement date in a true up modification.
  • Added "Apply Uplifts" button to the payments sublist on the modification page to allow the user to apply the uplift percentage ad-hoc.

Renewal Options

  • Added the ability to provide a renewal option start date prior to the end date of the lease

Performance

  • Updated all amortization schedule generating jobs (initial schedule generation, modification, termination, time machine) to perform updates as in-line edits to lease amortization schedule sublist resulting in up to 8x performance improvement (results may vary).

    • NOTE: Because of these changes User Event Scripts and Workflows deployed to the NetLessor Schedule Line record will no longer fire - to opt back into the old schedule generation method, navigate to NetLessor > NetLessor Setup > System Setup and check the "Trigger UEs on Schedule Generation (Slow)" checkbox.

System Controls

  • Added a new global setting, Closed Period Renewals, which grants users the ability to renew a lease even if the period after the lease's current end date is in a closed period.
  • Added a new global setting, Closed Period Terminations, the ability to reverse the termination of a lease that was terminated in a closed period so the lease can be reactivated.
  •  Updated the "Delete Invoices" feature on the Time Machine to support deletion of credit memos as well as the Override Billing Transaction type specified on the Lease Type.
  • Added new global setting, "Allow Concurrent Processing" to control the ability to run multiple journal processing jobs in parallel (after clicking through warning about potential for duplicate journals).
  • Updated the Time Machine warning message to require a user to confirm the number of leases being updated.  This will prevent a user from inadvertently applying the time machine to other leases.

Terminations

  • Added the ability to generate a credit memo based off cash paid upon termination of a lease.
  • Added the ability to terminate leases mid-month in prior periods (current/future coming in the subsequent release).
  • Added new global setting, Auto-Calculate Cash Paid, which when enabled will automatically calculate the cash paid for early termination of the lease prior to completing a non-monthly payment cycle
    • Actual cash paid on the lease will be the last payment amount less the sum of monthly qquivalent payments as of the termination effective date

Transfers

  • Added new custom record, NetLessor Transfer Proposal, which gives users the ability for a to propose lease transfers and execute proposed transfers in bulk

Miscellaneous

  • Various bug fixes (see minor release notes).
  • Added better support for unicode characters for CSV exports.
  • Fully tested for the NetSuite 2025.1 release.
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