NetLease 2021.2
NETLEASE VERSION 2021.2 KEY UPDATES
- Undiscounted Lease Maturity Waterfall Report
- Introduced new scripted report with undiscounted lease maturing analysis for 5 years with reconciliation to lease liability according to the guidance found in 842-20-50-6.
- Refer to the following link for more information on the report: Undiscounted Lease Maturity Waterfall
- Cash Basis Lease Classification
- Introduced new lease classification for cash basis accounting where lease payment equals lease expense. Please note this is not an available approach according to US GAAP.
- Bug Fix: this bundle fixes an issue whereby lease close out entries may be inaccurate if transition entries for that lease were generated after 4/1/2021.
WHAT DO YOU NEED TO DO?
- Your NetSuite Administrator should update your NetLease bundle (Customization > SuiteBundler > Search and Install Bundles > List). Refer to the following link for instructions on how to update the bundle: Updating the Bundle
- Make sure the "NetLease Saved Report" record has a "Preference" of "Merge Data" (may read as "NetLease Report" if bundle has already been updated)
- Reach out with questions on any of the new features