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NetLease Go – Lease Accounting Compliance for NetSuite

Status: Unverified

Lease accounting solution for NetSuite. NetLease Management Tool will allow NetSuite customers to manage, operationalize and comply with ASC 842 and IFRS 16 lease accounting requirements.

View on Suiteapp.com

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Description

Easy Lease Accounting Compliance for NetSuite

NetLease Go allows customers to efficiently manage lease accounting and easily comply with  ASC 842, IFRS 16 and GASB 87 directly in their NetSuite account.

Key Benefits

Power of a Native SuiteApp (embedded in NetSuite)

  • Manage lease accounting and compliance in your core financial system
  • Familiar NetSuite environment
  • No integration necessary
  • Trusted security and certification by Oracle NetSuite

High value, lower cost

  • Full-featured, affordable solution
  • Time, productivity and resource savings through process and automation
  • Never miss a key date

Trouble-free transition

  • One-click transition from ASC 840 to 842
  • Fast and simple upload and cutover process
  • Complete historical details

Confidence in compliance

  • Built based on ASC 842, IFRS 16 and GASB 87 guidelines by expert CPAs
  • Easy push-button reporting
  • Purpose built disclosure reports directly feed your footnotes
  • Robust audit trails
  • Ongoing Netgain and NetSuite support

Key NetLease Go Capabilities

  • Embedded in NetSuite
  • Native means no integration is needed
  • Supports lease reporting and decision making throughout the entire lease lifecycle
  • Easy setup and flexible configuration
  • Generate and adjust lease amortization schedules
  • 100% drill-down capability
  • Push-button reporting for FASB, IFRS and GASB disclosures
  • Direct links between lease liabilities and right of use (ROU) assets
  • Integrated AP management
  • Robust end-to-end audit trail
  • Self-service installation with two setup calls
  • Access to Netgain’s knowledge base
FEATURES

Powerful features for easy lease accounting compliance

  • Generate and adjust lease amortization schedules
  • Disclosure reporting for ASC 842, IFRS 16 and GASB 87
  • Built in NetSuite-managed role access
  • Summary and detailed journals
  • Segregate leases by type
  • Support for operating, financing, short term and operating subleases
  • Create and populate additional notes and fields
  • Automatically adjust schedules for pre-paid lease payments, initial direct costs and lease incentives
  • Input variable payments
  • Complete audit trail
  • Capture department class location and segmentation information
  • Calculate payments in advance or arrears
  • Upload agreements and any other documents to lease record
  • Early terminations
  • Standard lease modifications
  • Decreases in scope
  • ROU impairments
  • Capture and report on additional disclosures including residual values and variable rates
  • Capture and report on all key contract provisions, associated dates and amounts, including renewals, terminations, insurance and other key clauses
  • Capture details of exercised contract provisions
  • Access to Netgain SOC 1
  • Lease proposals and automated clarification determination
  • Additional custom lease types

Robust reporting and disclosures

Journal entry reports

  • Summary and detail periodic GL impact report
  • Short-term recalls report

Disclosure reports

  • Components of lease cost
  • Lease liability maturity analysis
  • Supplemental balance sheet information
  • Supplemental cash flow information
  • Weighted average discount rate and term reports

Lease balance roll forward reporting

Lease expense payment waterfall reporting

Subledger reports

  • Full sub ledger amortization schedules
  • Lease expense, interest, payment waterfall reports
  • Lease activity report for amortization, modification and termination activity report

Other management reports

  • Lease additions
  • Leases expiring within 90 days
  • Contract provisions key dates coming due

World-class support

  • Self-service installation with 2 setup calls
  • Knowledge base access with video tutorials