NetLessor 2022.1

NETLESSOR VERSION 2022.1 KEY UPDATES

• Multi-Book Posting
  • New fields, Secondary Accounting Book and Secondary Lease Classification facilitates the posting of a single lease to multiple books with different impacts on each
• Partial 1st and last month lease income
  • New NetLessor Lease Type field, Lease Income Convention, allows users to specify that leases of a certain type should calculate lease income in the first and last month of the lease based on how many days in that month the lease is active for
• Monthly transaction processing reversals
  • New Reverse Transactions button on the NetLessor Monthly Transaction Processing record allows users to easily roll back a month of amortization while the accounting period is open
  • New Reversal buttons directly on the schedule line allows users to easily roll back amortization for individual leases while the accounting period is open
• Improved transaction processing error handling
  • Common errors surrounding missing account mappings and invalid accounts now present as more user-friendly, actionable error messages
• Fully tested for the NetSuite 2022.1 Release

WHAT DO YOU NEED TO DO?

• Your NetSuite Administrator should update your NetAsset bundle (Customization > SuiteBundler > Search & Install Bundles > List) with the bundle preferences outlined here
  
• Due to changes in how the End Date is calculated, If you're using a custom lease form the End Date field will get moved to the bottom of the form and will appear as End Date (2) View full size
  • Don't worry, it's easily fixed! To correct this, navigate to any lease record, edit it, and click Customize > Customize Form View full size
  • On the Fields subtab of your Custom Entry form we recommend doing the following View full size Get rid of the (2) at the end of the End Date field label and update the Field Group back to "Schedule Information"
  • View full size Rearrange the Schedule Information fields to match the ordering above