NetLease 2023.2
NETLEASE VERSION 2023.2 KEY UPDATES
- Modifications
- Historical Exchange Rate Override
- Optionally override the historical exchange rate upon modification
- ROU Impairment Percentage
- Optionally input the ROU impairment amount as a percentage of the current ROU asset value
- True Up Modification
- New modification type, True Up, allows users to enter point-in-time lease information to correct the life-to-date G/L impact with a modification journal in the current period
- Not yet available on multi-book and FX leases
- New modification type, True Up, allows users to enter point-in-time lease information to correct the life-to-date G/L impact with a modification journal in the current period
- Historical Exchange Rate Override
- Amount Based Uplifts
- New field on the lease, Uplift Amount, adds support for amount based uplifts (in addition to existing percentage based uplifts)
- Terminations
- Scheduled Terminations
- The termination date field has been opened up to allow users to schedule terminations out into the future
- Future period (past the current period) termination will not post until they are processed in a monthly journals run
- Not yet available on multi-book and FX leases
- The termination date field has been opened up to allow users to schedule terminations out into the future
- Delay Termination Posting
- Navigate to NetLease > NetLease Setup > System Setup and check the "Delay Termination Posting" checkbox in order to delay the posting of all termination journals until the schedule line is processed from the monthly journal page
- Scheduled Terminations
- Billing
- Added vendor filter to the monthly bill processing page
- Added ability to run multiple months of bills at the same time
- Current period bills will no longer get cleared out of the schedule upon modification
- Managed Bundle Upgrades
- Navigate to NetLease > NetLease Setup > System Setup and open the new "Manage Upgrades" subtab to control the frequency with which upgrades to the product are pushed out as well as who receives release notes
- Minor Updates
- Added support for GASB lessor leases
- Added support for custom reclass journals on other schedule lines besides amortization (initial balance, modification, termination)
- Added support for cash basis subleases (if the entity type on the lease type is set to Lessor)
- Various bug fixes (see minor release notes)
- Fully tested for the NetSuite 2023.2 Release
WHAT DO YOU NEED TO DO?
- Your NetSuite Administrator should follow the instructions outlined here for getting the upgrade