Everything related to the lease is easily input, linked to, and displayed throughout NetLease
Everything related to the lease is easily input, linked to and displayed, such as vendor bills
Automated creation of journal entries
All lease modification types are fully supported
The journal entries and lease schedule updates are automatically performed after each modification
Comprehensive reporting available on day one
NetLease delivers more than just compliance
Embedded in NetSuite
As a Native SuiteApp, NetLease puts lease accounting and compliance where it should be — in your core financial system. Install NetLease, and Netgain’s lease accounting processes and automation will be embedded into your NetSuite account, eliminating painful reconciliations, integrations and concerns about security and data integrity common with third-party apps.
Native means no integration is needed
As a Native SuiteApp, no integration is necessary. NetLease appears in NetSuite’s navigation and capably uses all its core functionality.
Easy setup and flexible configuration
Getting started is simple. Collect your lease data and import via CSV into the familiar NetSuite user interface. Businesses with less than 50 leases can be compliant in three days.
One-click transition from ASC 840 to 842
We added a button that can recalculate your leases in bulk to the current standard.
Powerful lease reporting
Flexible reporting provides visibility into your leases throughout the entire lease lifecycle. From configuration to termination, and all the monthly transactions in between, you can make informed decisions using real-time information and forecast based on trends.
Push-button reporting for FASB, IFRS and GASB disclosures
Out of the box reports for disclosures, roll-forward and forecasting are easy to run and always at the ready — including dashboard reporting, and key date notifications so you will never miss a renewal.
Compliant with IFRS 16 and FASB ASC 842 requirements for lessee and lessor accounting
Purpose-built by ex-big 4 CPAs and experts in lease accounting to comply with the disclosure and operational requirements of the new account standards. We have customers audited by each of the big 4 audit firms, who have signed off on the accounting and disclosures produced by NetLease.
Supports lease reporting and decision making throughout the entire lease lifecycle
With all of your lease and operational data residing together within NetSuite, you have instant access to combined reporting and analysis at your fingertips so you can choose what contracts to pursue, modify or renew
100% drill-down capability
All transactions and data are connected so you can tick and tie and link within NetSuite’s common database, including lease documentation, transaction details, vendor bills and system notes
Direct links between lease liabilities and right of use (ROU) assets
Your lease amortization schedule is captured in a single table with clear indications of how balances are sourced and calculated
Full lease automation
Input lease data and NetLease automates calculations for lease liability and right-of-use (ROU) asset, automatically books journal entries to the general ledger month over month and provides easy automated modifications and terminations.
Integrated AP management
NetLease is fully integrated into NetSuite’s accounts payable process, removing the disconnect between lease payments and lease journal entries, and identifying payment errors in real-time. Say goodbye to the dreaded month end lease payments reconciliation process.
Robust end-to-end audit trail
Our click-by-click audit trail provides detailed tracking to easily create detective controls within your internal control environment. Includes time and date stamp, shows changes made and identifies the user who made them.
Capture financial and non-financial data
Unlimited ability to capture additional detail through customizable fields and forms on the lease record including contract provisions, key dates and added links to all NetSuite or external information.
Store and access key lease details
Both financial and non-financial documents for each lease record are easy to access within NetSuite. Upload image files, Microsoft Office files, PDFs and more.
Information is accessible anytime, anywhere in the NetSuite cloud, so updates are immediately reflected in reporting, disclosures and the general ledger
Manage the determination of lease classification — financing vs operating. Just enter the variables and NetLease will automatically choose the right classification.
One-click month end close
Complete journal entry automation from lease entries to properly booking the long-term and short-term lease liabilities.
Leveraging native NetSuite’s foreign currency functionality including international subsidiary consolidation, automated exchange rate feed for proper multicurrency and functional currency accounting.
Solutions for lessees and lessors
Like NetLease for Lessees, Lessors get all the same functionality and lease automation, while gaining calculations of implicit rates and discount rates, and integration with native billing, inventory and fixed asset management.
Netgain’s ongoing support
Quality set-up, implementation and training, guaranteed support responses, deep technical accounting expertise and optional consulting services mean Netgain’s customers are a satisfied group. We share our product roadmap with customers, outlining enhancements and new features, often based on user feedback.
Backed by Oracle NetSuite
Built on Oracle NetSuite’s powerful platform, Netgain’s solutions are backed by the might of Oracle’s security and data management practices. No customer data is stored in NetLease.