Thousands of leases to manage each month

When Kristin joined the FloWater team, there was no internal documentation on how her predecessor had set up NetSuite or the embedded Netgain solution, NetLessor.  

So, she worked with the Netgain team to learn what she could do with the software and the historical context of the NetLessor implementation.  

Her main lease accounting concerns included:

• High lease volume: About 90% of the water Refill Stations FloWater provides are leased. They have well over 3,000 active leases, with hundreds of new leases added monthly.

• Time-consuming manual processes: Without a dedicated solution, accounting for these leases would require another full-time employee. A manual process would be resource-intensive and prone to human error.

• Compliance: It was a priority for Kristin to ensure compliance with lease accounting standards and generate accurate reports for external auditors.

• Scalability: As FloWater continues to grow, they require an automated and scalable system for lease management and revenue recognition.

Fast and accurate processes

Once fully acquainted with NetLessor and its capabilities, Kristin began to use it to streamline lease accounting and ensure compliance. NetLessor provides:

Lease creation and revenue recognition

Each month, Kristin uploads a list of new water Refill Stations that have been installed and deployed.  

NetLessor automatically classifies the leases, applies the correct revenue recognition model, and posts transactions directly to the general ledger.  

“To do this manually would take forever,” Kristin explains. “NetLessor ensures efficiency and accuracy for thousands of leases every month.”

Time savings and efficiency

With NetLessor, the monthly lease accounting process takes Kristin about 8 hours each month.  

Without software? “I would probably need a full-time person to just manage that process manually,” Kristin says.  

Assuming a standard 40-hour work week for a full-time employee, that means they would spend over 170 hours a month on lease accounting.  

“With NetLessor, I'm able to just run it on a month-end basis and keep it updated, and I know that it's accurate and it's working the way it should be,” Kristin adds.  

{{testimonial-component-first}}

Audit readiness and compliance

An external consulting firm reviewed the NetLessor setup and found no compliance issues, reinforcing trust in FloWater’s lease accounting data.  

“That made me feel really good that what NetLessor was doing was accurate,” Kristin shares.  

What’s next: Customized automation

Kristin is working with Netgain to develop custom scripts to automate lease record creation from sales orders in NetSuite.  

Once fully implemented, this will enable real-time revenue tracking, improving financial visibility.  

“This is going to be really helpful not only to save me the time it takes to upload the lease list, but also to have real-time revenue recognition of these leases the moment they go on the ground,” Kristin says.

{{testimonial-component-second}}

Error-free lease accounting

With NetLessor, FloWater achieved measurable improvements in lease accounting:

✅ Significant time and budget savings: Lease accounting takes 8 hours each month instead of requiring an extra full-time hire.

✅ Improved accuracy: Reduced reliance on manual tracking minimizes the risk of human error.

✅ Increased scalability: Automated processes support FloWater’s growth without additional overhead.

✅ Stronger compliance and audit readiness: External auditors confirmed 100% accuracy in lease accounting data.

✅ Proactive revenue tracking: Ongoing automation efforts will enable real-time revenue reporting.

With increased efficiency, accuracy, and scalability, Netgain’s solutions have empowered FloWater’s finance team to focus on strategic financial management rather than manual processing.  

As Kristin continues to work with the Netgain team to automate more processes, FloWater is well-positioned for sustainable growth and financial clarity.

“Netgain’s team has been really great. They truly understand accounting, which makes all the difference in optimizing these processes,” Kristin concludes.