NetLease - Excel Audit Support
For customers using NetLease, auditors may request support to tie-out the lease schedules generated in your system. Below, we are providing a spreadsheet that walks through the various calculations for the most common lease classifications--Operating and Financing. The different sheets in the excel file allow one to recalculate each schedule with the accompanying monthly journal entries. This excel file contains lease examples showing the calculation outside of your system. You may also use the export tool accessed directly in NetLease to supplement the understanding for your auditors.
The below excel file is not a comprehensive support document and edits and inputs will be required for specific lease circumstances.
In addition, Netgain offers a product called NetLease for Auditors, which provides the most efficient and standardized way to verify audit clients' lease account schedules for ASC 842 and IFRS 16.
ASC 842 Lease Amortization Schedule