NetLease 2025.2

Amortization Updates

  • Updated schedule generation to perform final period lease liability rounding early if there are no payments left on the schedule.

Calculate Rate Implicit in Lease

  • Added new fields to the accounting subtab of the lease record to help calculate the rate implicit in the lease. Navigate to NetLease > NetLease Setup > System Setup and check the "Calculate Rate Implicit in Lease" checkbox to enable this feature.
  • Learn more in our Knowledge Base: NetLease - Calculate Rate Implicit in Lease

Controls Added

  • Added warning message when unlocking a commenced lease and locking a lease that is still pending.

  • Added controls to warn users from updating payments on posted leases outside of the modification process.

  • Added new global setting, Allow Concurrent Processing, that warns a user if the job they’re triggering is already running instead of disallowing it.

Custom Reclass Updates

  • Updated non-reversing custom reclass entries to follow the booking day.

  • Added support for custom reclasses of Lease Incentives, Initial Direct Costs, and Prepaid Lease Payments.

  • Added 2 new custom reclass account mappings to the lease type record (now totaling 4).

Fees

  • Added a new custom record, "NetLease Fee", as a child record of the "NetLease Lease" (appearing on a new Fees subtab) to allow users to bill for fees on a custom schedule un-tied to the recurring base lease payment.
    • Navigate to NetLease > NetLease Setup > Manage Fee Types to drive income account impacts and create templates for commonly entered fees.
    • Fees can be added or edited at any time to impact future month charges.  Editing a fee line will not impact prior periods.
    • Learn more in our Knowledge Base: NetLease - Fees


Modification Updates

  • Added logic to convert non-lease payment modifications to complete modifications if a core payment is updated.
  • Updated payment sublist on the modification proposal to show the payments at the time of the modification going forward.
  • Updated modification processing to associate payments associate with the modification's contract provision to the lease as well at the point of modification processing.
  • Added new global setting, Allow Initial Direct Costs, Prepaids, and Lease Incentive Updates, which enables the ability to modify a lease`s initial direct costs, prepaid lease payments, and lease incentives as part of a standard or complete modification and have net changes impact the ROU Asset Net Balance (otherwise these fields will only be available for edit upon true up modification).
  • True Up Updates
    • Updated the true up modification to load to the most recent version of the lease on initial load.
    • Added messaging on the true up modification whenever multiple versions are loaded encouraging users to review each version.
    • Updated true up logic to account for pre-go-live changes in lease payments, lease incentives, prepaids, or initial direct costs through the Lease Expense Accounts instead of the Go-Live/Transition Entry Account.

Multi-Book Updates

  • Added support for true up modifications for leases with a single accounting book.

Reporting Updates


  • Updated the Weighted Average Term Report to exclude trailing periods with no payment and no lease liability balance at the end of the lease from its calculations.
  • Moved the following reports from the "Disclosure Report" report category to the "Deprecated Report" report category (both weighted average summary and detail are captured in the new "Weighted Average Rate Report" and "Weighted Average Term Report"):
    • Weighted Average Term Summary
    • Weighted Average Rate Summary
    • Weighted Average Term Detail Input
    • Weighted Average Rate Detail Input
  • Updated Journal Entry Report: Lease Activity report to show impacts of true up modifications.
  • Added lease type, subsidiary, department, class, and location fields to the schedule line for point in time segmentation reporting.

Termination Updates

  • Updated the termination processing page to make entering an effective date, cash paid, and cash received mandatory.

Time Machine

  • Updated time machine rewind processing to maintain bills already tagged to schedule lines.
  • Updated time machine to require the user to enter the # of leases being updated if executing the job on more than 1 lease.
  • Added new quick access button to global settings, Rewind Lease, which allows users to run the time machine restricted to a single lease from a controlled script deployment with separate permissions from the normal time machine used for bulk rewinding leases. 

Transaction Processing Updates

  • Added new action field to the Approvals page with the added ability to reject a transaction and reverse the impacts to the lease's amortization schedule.
  • Added new fields to the NetLease Custom Transactions Types, NetLease Created By and NetLease Approved By, to help facilitate custom approval processes and improve audit trail.
  • Learn more in our Knowledge Base: NetLease - Approve & Reject Monthly Lease Journals

Transfer Updates

  • Updated transfers to process as two separate schedule lines in order to show inbound and outbound activity.
  • Added new record, NetLease Transfer Proposal, to facilitate bulk transfers and transfer approval processes.
  • Added functionality to update segmentation fields on the lease schedule lines when the segment is changed on the lease header outside of the normal transfer process.

Misc.


  • Added an import tool (linked in NetLease Setup) that allows for all NetLease related Suitelets to be updated with the desired roles with a single submit. Learn more here: NetLease - Suitelet Access


  • Added a Sync License button to the NetLease Setup page for cases when the license is failing to sync with the account in cases where the external role is not available.
  • Added new In-App messaging framework so release notes can be communicated directly to users via banner message.
    • Navigate to NetLease > NetLease Setup > System Setup and click the Messages subtab to view all prior communications.
  • Various bug fixes (see minor release notes).
  • Fully tested for the NetSuite 2025.2 release.
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