NetLease - Custom reclass journals
Overview
A Custom Reclass Journal may be desired for specific client circumstances. This article will walk through the steps to process the custom reclass journal entries in the Process Monthly Transactions Screen NetLease > Process Monthly Transactions > Monthly Reclass Journals.
After you have created a Custom Reclass Journal Type, it will show up as an option in the dropdown from the screen below
Step-by-step process
- Select the NetLease > Process Monthly Transactions > Monthly Reclass Journals to process your journals
- You can then select your specific Reclass Journal Type and filter your results
- Select the appropriate filters to run the journal entries and select allow the screen to refresh
| Field | Description | Example |
| Period | Highlight the period for which you would like to record transactions | Apr 2026 |
| Reclass Journal Type | The Reclass Journal type defaults to Short Term/Long Term Reclass. Keep the type unchanged for that setting. | Short Term/Long Term Reclass |
| Lease Status | Select the Status of the leases to run reclass journals on. Except in catchup scenarios, one should just run reclass journals on commenced leases | Commenced |
| Run All Months Up To and Including | Checkbox to enable a single run, including backdated reclass journals, instead of processing one period at a time. Applies to short-term/long-term reclass, interest payable reclass, and custom reclass journal types. | Checkbox checked |
| Subsidiary | Select the Subsidiary for whom reclass entries will be recorded. Leaving blank will run for all Subsidiaries. | Company, Inc. |
| Location | Select the Location for whom reclass entries will be recorded. Leaving blank will run for all Locations. | San Francisco |
| Lease Type | Select the Lease Type for whom reclass entries will be recorded. Leaving blank will run for all Lease Types. | Real Estate |
| Lease | Select a specific lease for whom reclass entries will be recorded. Leaving blank will run for all Leases. | LA0033 |
- Mark all the Journals you want to run and hit Generate Transactions
Use the checkbox functionality to Run All Months Up To and Including on the Monthly Reclass Journals page for a single run, including backdated reclass journals, instead of processing one period at a time. This applies to short-term/long-term reclass, interest payable reclass, and custom reclass journal types.
- Refresh the page until the Processing Status indicates Complete and the journal entries are listed in the batch summary
- You can select the Journal Entry link to review the first reclass journal entry. The short-term portion of the lease liability will be moved to the short-term account.
- You can access the associated reversal entry by clicking the hyperlink in the Reversal # field on the main journal entry. Both entries are automatically posted when the reclass journal entry is run.
- Note that both reclass journal entries are tied to the lease record and can be viewed by navigating back to the lease record and looking at the Other Related Transactions sublist within the Related Records subtab
