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NetLease is a comprehensive lease accounting solution designed to streamline compliance with the latest lease accounting standards, including ASC 842 and IFRS 16. Built directly into the NetSuite platform, it offers full visibility into right-of-use asset and lease liability calculations, making it an ideal tool for managing complex leases.

Key features of NetLease include the ability to handle fixed payments, lease incentives, prepayments, rent holidays, and other lease-related complexities. It also supports tracking of non-GL leases and automates the creation of monthly transactions during the period-end close process. Additionally, NetLease provides detailed disclosures required under the new standards and captures non-financial data such as holdover provisions, renewal options, guarantors, and expected lease costs.

By integrating seamlessly with NetSuite, NetLease leverages the existing ERP infrastructure to provide a scalable, cost-effective, and easy-to-use solution. This integration ensures that users can manage their lease accounting lifecycle efficiently, from lease initiation to modification and termination. NetLease is particularly beneficial for organizations seeking to enhance their financial reporting and compliance capabilities while maintaining a streamlined workflow within their current NetSuite environment.

Make compliance with ASC 842, IFRS 16 and GASB 87 easy by simplifying and automating lease accounting with NetLease by Netgain. That’s just the beginning. The new lease accounting standard is here. Businesses of all sizes need to comply with significantly expanded reporting requirements. NetLease supports lease reporting and decision making for businesses of all sizes, from small businesses with few leases up to large, complex, multi-division enterprises with international leases. Simply enter lease data into NetLease and--with the push of a button--get automated, error-free lease amortization schedules and the required disclosures. Audits coming? Seeking financing? You’ll need a simple lease accounting solution. With automated disclosure reporting, roll-forward and waterfall reports, support for operating and financing leases, automatic modifications and terminations, and a complete audit trail, NetLease is a must-have for GAAP compliance this year. NetSuite users can embed lease accounting right into their core financial system, allowing for automated posting to the general ledger (GL) and complete drill-down from report to transaction. NetLease for NetSuite allows users to access existing customizations of your NetSuite system and is backed by the might of Oracle’s security and data management practices. NetLease is available for lessees and lessors.

Categories:

Business

Lease Administration Software

Lease Accounting Software

Website: netgain.tech

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