NetLease - Global Settings

Overview

The NetLease Setup module is configured during implementation to establish system behavior and default processing rules. The Setup page contains multiple subtabs where features can be enabled, settings can be defined, and operational parameters can be set.

This article provides an overview of each subtab within the NetLease Setup page and outlines the purpose of the available configuration options.

Note: NetLease Setup is typically configured during initial implementation and is generally not modified afterward, except when new functionality is adopted.

Navigation

After the NetLease bundle is installed, access the NetLease Setup page by navigating to NetLease > NetLease Setup > System Setup:

The NetLease Setup page contains several configuration subtabs used to define system behavior:

General

The General subtab contains global configuration settings for NetLease. During implementation, the appropriate options are selected and saved to establish default processing rules and system behavior. The following sections outline the available options on this subtab and their functions:

Go-Live Selections

Field Name	Required	Description	Example
Accounting Standard	Yes	The accounting standard to apply to all lease schedules and transactions for your instance—whether IFRS or US GAAP.	ASC 842
Accounting Standard Adoption Date	Yes	The start date of the period when the lease accounting standards IFRS 16 or ASC 842 become effective for your company.	1/1/2022
NetLease Go-Live Date (1st Journals Booked)	Yes	The start date for when leases will be recorded in the general ledger. No journal entries will be posted to the G/L before the date specified in this field.	1/1/2024

Auto-Numbering Settings

Field Name	Required	Description	Example
Auto-Numbering Preference	No	Choose the method for populating lease IDs: Default: Uses the out-of-the-box prefix and numbering conventions defined on the NetLease Lease custom record. Manual: Requires users to manually input the lease ID when creating a new lease record. Custom Prefix: Allows users to specify their own lease ID prefix. Lease Type Prefix: Uses the lease prefix defined on the lease type record and numbers based on the total leases within that type. Subsidiary Prefix: Uses the lease prefix defined on the subsidiary record and numbers based on the total leases within that subsidiary. Internal ID: Uses a custom prefix but ensures the number in the ID matches the internal ID of the lease.	Default
Auto-Numbering Prefix	No	Define the prefix for your lease IDs. Please note, this field will only be editable if you select a custom option for the Auto-Numbering Preference.	LS
Auto-Numbering Minimum Digits	No	Define the minimum number of digits for your lease IDs. Please note, this field will only be editable if you select a custom option for the Auto-Numbering Preference.	4

Lease Calculation Settings

Field Name	Required	Description	Example
Default FX Historical Exchange Rate Calculation Date	Yes	Specify the default date for calculating the FX Historical Exchange Rate for leases where the contract currency differs from the functional currency of the lease's subsidiary. Please note that, regardless of the selected date, the commencement date will always be used if it occurs later. The calculated exchange rate can also be overridden on the lease record.	Adoption Date
ROU FX Accounting Preference	No	Choose the preferred method for accounting for FX adjustments on ROU assets when the lease's contract currency differs from the subsidiary's base currency.	Gross & Accumulated
Allow ROU Asset Useful Life Override	No	Check this box to enable users to override the ROU Asset Useful Life (used in lease expense calculations) at the lease level. If left unchecked, the ROU Asset Useful Life will default to the Lease Term.	✓
Automatically Determine Lease Classification	No	Check this box to automatically classify the lease based on the most recent criteria outlined in the guidance.	✓
Calculate Rate Implicit In Lease	No	Check this box to enable the option to calculate the rate implicit in the lease based on the leased asset's fair market value, the expected cash flows, and the expected residual value of the lease.	✓
Prorate Payments	No	Check this box to prorate payments for partial months and to apply prorations for changes occurring mid-month.	✓
Generate Schedule on Lease Creation	No	Specify whether to automatically generate the lease schedule when creating the lease record in the user interface (note: this will not apply to CSV imports).	✓
Regenerate Schedule on Lease Save	No	Specify whether to automatically regenerate the lease schedule when schedule-impacting changes are made to pending lease records in the user interface (note: this will not apply to CSV imports).	✓
Trigger UEs on Schedule Generation (Slow)	No	Specify whether to use a slower method (~10x) for creating schedule lines, which allows user event scripts to be executed for each schedule line.	✓

Modification Settings

Field Name	Required	Description	Example
Allow Mid-Month Modifications	No	Check this box to allow modifications to a lease mid-month. This option is available only for standard and complete modifications on monthly leases that do not use custom calendars.	✓
Allow Initial Direct Costs, Prepaids, and Lease Incentive Updates	No	Check this box to enable the ability to modify a lease`s initial direct costs, prepaid lease payments, and lease incentives as part of a standard or complete modification. Otherwise these fields will only be available for edit upon true up modification.	✓

Close Out Settings

Field Name	Required	Description	Example
Automate Close Out Journals	No	Check this box to automatically create a Close Out Entry that clears accumulated amortization when the final period's amortization is run. It is recommended to leave this setting off to allow for review of leases pending close-out via Mass Update Leases > Mass Close Out Leases.	✓

Renewal Settings

Field Name	Required	Description	Example
Allow Closed Period Renewals	No	Check this box to enable the ability to process renewals for leases in closed periods.	✓
Automated Renewal	No	Specify whether modification proposals generated from lease auto-renewal settings will be processed by default, created but pending approval, or disabled as an option.	Pending Approval
Renewal Option Creation Search	No	Specify the default system search option for renewals.	NetLease Lease Renewal Options [USED ON LAYOUT]
Renewal Option Form	No	Specify the default system form for renewal option contract provisions.	Netgain NetLease Renewal Option Contract Provision Form

Transfer Settings

Field Name	Required	Description	Example
Book Transfer Journal on Department Change	No	Check this box to require the automatic creation of a NetLease Transfer Entry to update the lease account balances with the new department when changing the department on an asset.	✓
Book Transfer Journal on Class Change	No	Check this box to require the automatic creation of a NetLease Transfer Entry to update the lease account balances with the new class when changing the class on an asset.	✓
Book Transfer Journal on Location Change	No	Check this box to require the automatic creation of a NetLease Transfer Entry to update the lease account balances with the new location when changing the location on an asset.	✓
Book Transfer Journal on Segment Change	No	Check this box to require the automatic creation of a NetLease Transfer Entry to update the lease account balances with the new segment when changing the segment on an asset.	✓

Termination Settings

Field Name	Required	Description	Example
Delay Termination Posting	No	Check this box to delay the posting of termination journals until the monthly journal processing run. Note that terminations cannot be delayed for FX or Multi-Book leases.	✓

Transaction Settings

Field Name	Required	Description	Example
Auto Approve Transactions	Yes	Specify which lease transactions should be automatically approved upon generation within the NetLease module. System-generated transactions are typically approved automatically, but users can default them to pending approval, integrate them into a workflow, or choose an alternative approval method. We recommend approving all system-generated entries, as they are typically created automatically. However, journal entries created on a lease-by-lease basis may require a more thorough approval process.	Approved
Delete Transactions Upon Rejection	No	Indicates whether rejected transactions are automatically deleted. This setting helps reduce transaction volume, which may improve reporting performance and reduce NetSuite storage costs. Note: This configuration is required when Multi-Book Accounting is enabled.	✓
Default Lease Transaction Booking Date	Yes	Specify the default date for booking all transactions created by NetLease. Selecting "From Lease" will set the transaction date according to the Lease Amortization Schedule, while "From Accounting Period" will set the transaction date based on the accounting period being processed.	From Lease Record
Default Lease Transaction Booking Day	Yes	Specify the default day of the month for booking all transactions created by NetLease. For 4-4-5 (or similar) calendars, we recommend selecting a mid-month day (e.g., the 15th) to ensure transactions are booked to the correct accounting period. Please note that initial balance journals will be booked on the commencement date, go-live journals on the go-live date, and reclassification journals on the last day of the accounting period.	31st (or last day of month)
Default Lease Transaction Billing Day	Yes	Specify the default day for booking all vendor bills. Note that this can be overridden at the lease level.	31st (or last day of month)
Reclass Transaction Form	No	Select the form to use when generating reclassification journal entries.	- Preferred Form -
Bill Transaction Form	No	Select the transaction form to use when creating vendor bills.	- Preferred Form -
Book-Specific Transaction Form	No	Select the form to use when generating book-specific journal entries.	- Preferred Form -

System Settings

Field Name	Required	Description	Example
Allow Closed Period Selection	No	Check this box to allow the selection of closed periods for processing on the monthly journal and time machine pages.	✓
Allow Concurrent Processing	No	Check this box to allow the same map/reduce script to be initiated while another invocation of the job is still running. WARNING: this can produce duplicate results.	✓
Apply Role Restrictions to Schedule Lines		Indicates whether role-based subsidiary restrictions should be applied to the Subsidiary field on schedule lines. When enabled, only users with roles assigned to the lease’s subsidiary can view the associated schedule lines. Note: Enabling this setting may cause unexpected behavior if users do not have the appropriate role permissions.	✓
Automatically Filter Sublists	No	Check this box to automatically apply filters entered on lease selection pages (recommended unless transaction volume is exceptionally high).	✓
Journal Deletion Control	No	Check this box to prevent the system from deleting any NetLease journal entries—which typically occurs when reversing a modification.	✓
Hide Side Navigation	No	Check this box to hide the side navigation panel in NetLease.	✓

System Features

The System Features subtab allows users to enable NetLease functionalities, add quick access buttons, and manage Suitelet access. The features are detailed below:

System Feature Selections

Field Name	Required	Description	Example
Automated Billing	No	Check this box to enable the automation of vendor bill creation based on lease data.	✓
Custom Calendars	No	Check this box to enable the creation of custom accounting calendars (e.g., 4-4-5) that determine the period start and end dates for the amortization schedules.	✓
Lease Proposals	No	Check this box to enable lease proposals—which separate lease creation into two steps and automate lease classification determination.	✓
Multi-Book	No	Check this box to enable the creation of book-specific journal entries for leases. Note: This is an add-on feature. Multi-book accounting in NetSuite must also be enabled to activate it.	✓
Non-Lease Payments	No	Check this box to enable the ability to account for non-lease payments.	✓
Payment Uplifts	No	Check this box to enable payment uplifts, allowing you to specify a percentage increase at set intervals (e.g., annually) and automate the creation of payment records based on the defined uplift.	✓
Percentage Rent	No	Check this box to enable the accounting of Percentage Rent clauses, allowing you to add a percentage rent clause to a lease, calculate sales, and run journals for percentage rent lease liabilities.	✓

Quick Access Buttons

Field Name	Required	Description	Example
AI Upload	No	Check this box to enable the AI Upload feature, which uses AI to extract key lease information and automatically populate new lease records for incoming contracts.	✓
Bill Lease	No	Check this box to add a "Bill" button to the lease record, allowing users to quickly generate a vendor bill for the next lease payment due.	✓
Calculate Sales	No	Check this box to add a "Calculate Sales" button to the lease record, enabling users to easily calculate percentage rent sales for individual leases.	✓
Close Out Lease	No	Check this box to add a "Close Out" button to the lease record, allowing users to quickly update the status of a "Pending Close Out" lease to "Complete."	✓
Commence Lease	No	Check this box to add a "Commence Lease" button to the lease record, enabling users to quickly change the status of a "Pending" lease to "Commenced."	✓
Export Lease	No	Check this box to add an "Export" button to the lease record, allowing users to quickly export the amortization schedule for further analysis or re-import.	✓
Generate Schedule	No	Check this box to add a "Generate Schedule" button to the lease record, allowing users to instantly generate the amortization schedule for a lease.	✓
Modify Lease	No	Check this box to add a "Modify Lease" button to the lease record, enabling users to quickly make modifications to an existing lease.	✓
Rewind Lease	No	Indicate whether a "Rewind" button should be added to the lease record to allow a user to quickly rewind an lease back to pending or back to its state at the beginning of a certain period. WARNING: This will give the user the ability to delete transactions still in open periods.	✓
Run Journals	No	Check this box to add a "Run Journals" button to the lease record, enabling users to quickly generate monthly amortization journals for a specific lease.	✓
Terminate Lease	No	Check this box to add a "Terminate Lease" button to the lease record, allowing users to quickly initiate the termination process for a lease.	✓
Transfer Lease	No	Check this box to add a "Transfer" button to the lease record, enabling users to quickly transfer the lease to another party or location.	✓

Restrict Feature Permissions

The Restrict Feature Permissions section is used to control which users can perform specific actions within NetLease. For detailed configuration steps, refer to the NetLease Suitelet Access article.

Import Tools

This tab contains a variety of tools and links designed to assist users with the import process. A detailed description of each tool/link is provided below:

Account & Lease Types

Field Name	Description
Default Accounts and Lease Types Import	Click the link to access a tool that will guide you through the process of importing a recommended chart of accounts and lease type account mappings in NetLease.
Update Lease Types Saved Search	Click the link to run a saved search for all lease types, which can be downloaded as a CSV and re-imported to update existing lease type records.

Leases

Field Name	Description
Add Leases CSV Import Template	Click the link to download a CSV import template for adding lease records to NetLease.
Update Leases Saved Search	Click the link to run a saved search for all leases, which can be downloaded as a CSV and re-imported to update existing lease records.

Lease Payments

Field Name	Description
Add Lease Payments CSV Import Template	Click the link to download a CSV import template for adding lease payment records.
Update Lease Payments Saved Search	Click the link to run a saved search for all lease payments, which can be downloaded as a CSV and re-imported to update existing lease payment records.

Permissions

Field Name	Description
Bulk Custom Role Permissions Import	Click the link to access a tool that allows you to bulk import role permissions for custom records and transactions in NetLease. Reference the NetLease Role Permissions Setup article for further instructions.
Bulk Suitelet Access Import	Click the link to open a tool that will help you get started in NetLease by allowing you to bulk import access to certain custom pages in NetLease (suitelets) by role.

Classification Thresholds

This subtab is used to configure lease classification thresholds. These settings are available only when the Accounting Standard on the General subtab is set to ASC 842.

Thresholds

Field Name	Description	Example
Threshold % for Major Portion of Economic Life	Specify the percentage of the economic life of the underlying asset that the lease term must meet or exceed to be classified as a financing lease.	75.0%
Threshold % for Present Value as a Substantial Portion of Fair Value	Define the percentage by which the present value of lease payments and the guaranteed residual value must equal or exceed the fair value of the underlying asset to qualify as a financing lease.	90.0%

Non-Lease Payments

This subtab is used to define naming conventions for non-lease payment types.

Note: This section will only appear if Non-Lease Payments has been enabled in the System Features subtab.

Non-Lease Payment Field Names

Field Name	Required	Description	Example
Non-Lease Payment Name 1	No	Specify the name for the first non-lease payment field that users will see when entering non-lease payment details.	CAM
Non-Lease Payment Name 2	No	Specify the name for the second non-lease payment field that users will see when entering non-lease payment details.	Insurance
Non-Lease Payment Name 3	No	Specify the name for the third non-lease payment field that users will see when entering non-lease payment details.	Taxes

Percentage Rent

This subtab is used to configure parameters for the Percentage Rent add-on. The Percentage Rent feature must be enabled on the System Features subtab for this configuration to be accessible.

Field Name	Description	Example
Default Months in Arrears	The default number of months in arrears that percentage rent payments are due. Can be overridden at the contract provision level.	1
Default Payment Frequency	The default payment frequency that percentage rent payments are due. Can be overridden at the contract provision level.	Monthly
Monthly Breakpoint Expense Accrual	Optionally opt to accrue rent expense based on the breakpoint.	✓
Default Sales Transaction Saved Search	The default search used to identify sales for a given lease's location. The specific lease's location will be filtered for automatically.	NetLease Percentage Rent Sales
Lease Location Identifier	The field on the lease record used to identify the physical location being leased. Should have a corresponding field on the invoice.	Location
Sales Transaction Location Identifier	The field on the invoice record used to identify the physical location being leased. Should have a corresponding field on the lease.	Location
Sales Transaction Search Amount Field ID	The field on the lease record used to identify the physical location being leased. Should have a corresponding field on the invoice.	amount

Licensing

This subtab provides an overview of licensing information.

License Info

Field Name	Description	Example
License Tier	Identifies the NetLease product tier of the account. In Sandbox environments, this value can be modified. In Production environments, the value is fixed based on the purchased tier.	NetLease Max
License Status	Indicates whether the license is active.	Active
Date Last Synced	Displays the date and time when the product was last upgraded.	10/31/2025 12:23:36 pm

Usage Info

Field Name	Description	Example
Tier Max	Displays the number of leases included in the current license.	200
Lease Count Towards Tier Max	Displays the current count of active leases with a status that contributes toward the lease-tier limit (Pending, Commenced, Pending Renewal, or Pending Close Out).	154
Pending	Displays the number of leases with a status of Pending. Leases in this status are counted toward the tier maximum.	76
Commenced	Displays the number of leases with a status of Commenced. Leases in this status are counted toward the tier maximum.	72
Pending Renewal	Displays the number of leases with a status of Pending Renewal. Leases in this status are counted toward the tier maximum.	3
Pending Close Out	Displays the number of leases with a status of Pending Close Out. Leases in this status are counted toward the tier maximum.	3
Complete	Displays the number of leases with a status of Complete. Leases in this status are not counted toward the tier maximum.	0
Terminated	Displays the number of leases with a status of Terminated. Leases in this status are not counted toward the tier maximum.	5

Manage Upgrades

This subtab provides configuration options for managing bundle upgrades. For additional details on managed bundles, refer to the NetLease Managed Bundle FAQs article.

Note: This section is displayed only in production accounts.

Field Name	Description	Example
Upgrade Preference	Controls the schedule for product upgrades. Options include upgrading automatically with each release, on an annual or bi-annual basis, or on a custom date defined by the account.	Accept All
Next Upgrade Date	Indicates the scheduled date of the next upgrade when a custom upgrade schedule is selected. This date must fall within one year of the most recent upgrade.	7/1/2025
Allow Uninstall	Check this box to permit the uninstallation of the NetLease Bundle—even if transactions have been posted using the bundle.	✓
Block Managed Upgrades	Check this box to prevent Netgain from performing managed upgrades.	✓
Last Upgraded Date	Shows the date on which the product was last upgraded.	1/7/2025
Send Release Notes To	List the individuals and their email addresses who should receive release notes when the bundle is updated.	Lionel Messi
In-App Messages	Displays the list of in-app messages that have been pushed out by Netgain.	New Release Available

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