NetLessor 2024.2

  • Automation Rules

    • On implementation of product, lease automation rules can be set up to automate the creation of new leases from approved sales orders.
    • Added the ability to schedule an automation rule.
    • Updated automation rule with option to split by quantity when creating leases from sales orders.

  • Lease Calculation Types

    • Navigate NetLessor > NetLessor Setup > System Setup and select a default field to calculate when inputting lease information:
      • Calculate Rates (IRR)
        • The legacy method - sets the Implicit Rate and the Discount Rate based on the fair value and the payment flows.
      • Calculate Payments (PMT)
        • New method - sets the Initial Payment Amount based on the fair value and the rates.
        • Exposes new "Contract Rate" on lease.
      • Calculate Fair Value (NPV)
        • New method - sets the Fair Value based on the rates and the payment flows.
        • Exposes new "Contract Rate" on lease.
    • Override at the Lease Type level.
    • New global setting, Sync Fair Value and Carrying Cost, to determine whether the “Calculate Fair Value” calculation type updates both fair value and lease carrying cost with the new fair value or not.

  • Lease Creation

    • Auto-numbering
      • Navigate NetLessor > NetLessor Setup > System Setup and select from the following auto-numbering preferences:
        • Default: Uses the prefix and the numbering conventions laid out directly on the NetLessor Lease custom record.
        • Manual: Forces users to specify the lease ID manually whenever creating a new lease record.
        • Custom: Allows user to specify their own lease ID prefix.
        • Lease Type: Uses the lease prefix listed on the lease type record and numbers according to the number of leases within that lease type.
        • Subsidiary: Uses the lease prefix listed on the subsidiary record and numbers according to the number of leases within that subsidiary.

  • Lease Modifications

    • Lease paydown modification
      • New Modification Payment Amount field available on modification facilitates the pay down of the fair value directly.
      • Updates to the fair value post specifying the modification payment amount go to gain/loss account.
    • Added support for complete modifications on leases pending close out.
    • Added support for true ups in period 1 of the amortization schedule.

  • Schedule Generation

    • Added the ability to provide a default payment frequency on a lease.
    • Added new field to lease, Uplift Frequency Multiplier, which allows users to use custom uplift frequency (i.e., setting Uplift Frequency to Months and Uplift Frequency Multiplier to 2 will result in an uplift every 2 months).

  • Miscellaneous

    • Updated help links to point to Capacity instead of Doc360.
    • Added the ability to block Netgain from performing managed upgrades via new global setting, Block Managed Upgrades.
    • Added a control to prevent un-installation of the bundle if any transactions had been posted by the bundle unless new global setting, Allow Uninstalls, is enabled.
    • New G/L impact sublist added to the schedule line record showing the posted impacts of the line.
    • Various bug fixes (see minor release notes).
    • Fully tested for the NetSuite 2024.2 release.
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