NetLessor Upload Template Headers
Use Case: This article will define the purpose of each tab and field of data found in the NetLessor Upload Template. The following 3 tabs will be outlined:
Update NetLessor Upload Template Tab: This tab should include every lease that will be uploaded to the NetLessor system. Note that the fields highlighted in gray below are the fields that will be used to calculate the lease schedule and any associated journal entries.
| Name | Required | Description | Example |
| Lease ID | Auto-generated | A unique ID for the lease and the primary identifier within NetLessor for the lease record. ID can be manually selected by the user. If left blank, the ID will be auto-generated. | LA0037 |
| Lease Name | Yes | Free form input for NetLessor users. This can be used for the lease contract # or other identifying information for the leased asset. | 17 Cherry Tree Lane, London KY |
| Lease Classification | Yes | Options are Financing, Operating, Short Term / Low Value, Cash Basis (Non-GAAP), or Sublease - Operating. US GAAP companies generally will select from Operating or Financing; IFRS companies generally will select Financing. | Financing |
| Lease Type | Yes | Assign the lease type from the drop-down list, which are defined as part of global settings. | Real Estate |
| Subsidiary | Yes | The subsidiary where the ROU Asset and Lease Liability will reside. | Company, Inc. |
| Subsidiary Internal ID | Yes | The Internal ID (found in NetSuite) of the subsidiary where the ROU Asset and Lease Liability will reside. | 4 |
| Customer | Yes | The Lessor of the leased asset. This is the customer from whom lease customer receipts will be paid. | McGeever Properties |
| Customer Internal ID | Yes | The Internal ID (found in NetSuite) for the Lessee of the leased asset. This is the customer from whom lease customer receipts will be paid. | 622 |
| Currency | Yes | The contract currency for the lease, typically the currency in which payments will be made. This defaults to the Vendor’s primary currency. | US Dollar |
| Lease Notes | No | A text area field to include any relevant notes or lease-related information. | NNN; no renewal |
| Status | Yes | Pending = tables can be created, but transition or amortization journals will not. Commenced = the lease is ready for postings. Complete = the lease has reached termination date. Terminated = the lease was terminated early. | Commenced |
| Commencement Date | Yes | The date on which a lessor makes an underlying asset available for use by a lessee. | 1/1/2019 |
| End Date | Calculated (unless lease uses partial month) | The anticipated ending date of the lease, which is calculated (commencement date + lease term). *Note that if using partial month convention, this end date must be manually input. | 12/31/2021 |
| Initial Lease Payment | Yes | Payment to be applied in the commencement month of the lease. For fixed payment leases, this represents the monthly payment for the duration of the lease. For variable payments (any lease where payment vary throughout the life of the lease), this represents the first payment following commencement. Future payments are updated on the Payments subtab. | 8,000.00 |
| Incremental Borrowing Rate % | Yes | The annual discount rate used to determine the present value of the lease liability calculations (i.e. implicit rate of lease or incremental borrowing rate). | 5.00% |
| Economic Life of Leased Asset (Months) | Yes | The economic life of the underlying asset that was leased to the lessee, which is used to determine the lease classification. | 360 |
| Lease Term (Months) | Yes | The anticipated duration (in months) of the lease (i.e. period includes options the lessee is reasonably certain to exercise). | 60 |
| Leased Asset Fair Value | Yes | The fair value of the asset at the commencement date. | 1000000 |
| Leased Asset Carrying Cost | Yes | The cost of the asset minus the accumulated depreciation at the commencement date. | 1000000 |
| Initial Direct Costs | No | Incremental costs of obtaining a lease that would not have been incurred if the lease had not been obtained (increases ROU asset; offset to ROU clearing account). | 500.00 |
| Prepaid Lease Payment | No | Any lease payments made before the commencement date (increases ROU asset; offset to ROU clearing). | 8,000.00 |
| Residual Value Guaranteed By Lease | No | Check this box if there is a Residual Value Guarantee. This field is informational to capture requirements for disclosure reporting. | Yes |
| Residual Value Guaranteed By 3rd Party | No | Input the residual value amount to be guaranteed by a third party under the lease agreement. | Yes |
| Residual Value Total Estimate | No | Input the estimated residual value of the leased asset. This field captures this information for disclosure reporting. | 20,000.00 |
| Variable Rate Index | No | If the variable rate lease box is checked, select the variable rate index the variable payments of the lease are dependent on. | Bond |
| Variable Rate Lease | No | Check this box if the lease contains Variable Lease Payments. | Yes |
| Variable Non-Lease Payments | No | Non-lease components identified here are NOT to be included in calculation of the lease payments impacting ROU Asset & Lease Liability, but are to be included in the Vendor Bill and expensed as incurred. | 1,450.00 |
| Deposit Amount | No | The refundable deposit paid to the lessor. Note that non-refundable deposits should be included as lease payments. | 0 |
| Deposit Release Date | No | Date the deposit is expected to be released to the lessee. | 1/1/2021 |
| Deposit Notes | No | Relevant information about the customer deposit. | This is a test. |
| Deposit Release | No | This box should be checked when the deposit has been refunded to the lessee. | No |
| Collectibility Probable? | No | This box defaults the checked, assuming collectability is probable with any leasing customer we engage with. | Yes |
| Lease Transfer Ownership? | No | This box should be checked if the lease transfers ownership of the underlying asset to the lessee by the end of the lease term. | No |
| Purchase option exercise reasonably certain? | No | This box should be checked if the lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise. | Yes |
| Underlying asset specialized (no alternative use)? | No | This box should be checked if the underlying asset is of such specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. | Yes |
| No GL Impact | No | If selected, this lease will not have any general ledger activity (e.g., the lease is for management tracking purposes only but should not impact the financial statements) | Yes |
| Department | No | The department where the ROU Asset and Lease Liability will reside. | Sales |
| Department Internal ID | No | The Internal ID (found in NetSuite) of the department where the ROU Asset and Lease Liability will reside | 1 |
| Class | No | The class where the ROU Asset and Lease Liability will reside. | Personal Protective Equipment |
| Class Internal ID | No | The Internal ID (found in NetSuite) of the class of the ROU Asset. | 13 |
| Location | No | The locations where the ROU Asset and Lease Liability will reside. | Chicago Distribution Center |
| Location Internal ID | No | The Internal ID (found in NetSuite) of the locations where the ROU Asset and Lease Liability will reside. | 7 |
| Assigned To | No | Employee that the lease is assigned to. | Jane Doe |
| Parent Lease | No | Used to connect multiple leases that have a parent-child relationship (e.g., separate lease components under a single lease or modification resulting in separate leases). | LA0005 |
| TBD 1 | No | These columns are to include any desired fields that are not included in another column. | Address |
Lease Payment Schedule Tab: This tab should include data for changes in lease payments. A single lease needs to include a new set of data for each change in payment. Note that leases that don't have changes in payment don't need to be included on this tab.
| Field Name | Required | Description | Example |
| Lease ID | Auto-generated | A unique ID for the lease and the primary identifier within NetLease for the lease record. This lease ID will match the lease ID from above if it is not system generated. | LA0037 |
| Lease Name | Yes | Free form input for NetLease users. This can be used for the lessor’s contract # or other identifying information for the leased asset. This Lease Name will match the Lease Name from above if it is not system generated. | 17 Cherry Tree Lane, London KY |
| Concatenated Name | Yes | This column should be a concatenation of the Lease ID and the Lease Name. | LA00370 17 Cherry Tree Lane, London KY |
| Payment Date | Yes | The date the payment changes | 12/31/2023 |
| Payment Frequency | Yes | The frequency of the payment after the change | Monthly |
| Payment Amount | Yes | The new payment amount | 9,500.00 |
| Non-Lease Payment 1 | No | Payments for non-lease components. These payments need to be included here even if there aren't changes in payments. | 1,000.00 |
For any additional questions on the NetLessor Upload template, please reach out to a member of your implementation team.