NetLease 2020.2

NETLEASE VERSION 2020.2 KEY UPDATES

  • Non-Monetary Foreign Currency Historical Adjustments
    • NOTE: This update is only applicable when the contract currency differs from the base currency of the subsidiary
    • The historical rate is captured on the asset record. When the spot rate differs from the historical rate, and adjustment entry is made to the (offset against the new mapped FX Gain/Loss
    • The new journal entry is captured and linked on the NG Lessee Schedule Entry record on the field “FX Historical Adjustment Journal Entry”

WHAT DO YOU NEED TO DO?

  • Your NetSuite Administrator should update your NetLessor bundle (Customization > SuiteBundler > Search & Install Bundles > List)
  • Update your preferred forms to move any new fields to the appropriate location on the form
  • Select a GL account to record FX Gains/Losses and update mappings for each lease type (NetLease > NetLease Setup > Manage Lease Types)
  • Reach out with questions on any of the new features
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