NetLease
By Netgain Solutions
Native NetSuite Integration: This is the most significant advantage. Users love that the tool is fully embedded within NetSuite (a "SuiteApp"), making it feel like any other menu. This eliminates the hassle of external integrations and ensures direct posting to the General Ledger (GL).
Compliance and Accuracy: The software automates complex calculations for amortization schedules, Right-of-Use (ROU) assets, and liabilities, ensuring accurate compliance with ASC 842, IFRS 16, and GASB 87. This has been a "huge time saver" for audit readiness and monthly close.
Ease of Use & Management: The platform is described as user-friendly and easy to navigate, simplifying the daily management of a large lease portfolio. Features like running monthly journal entries are often completed with "one click."
Excellent Customer Support: Customers frequently praise the support and implementation teams, often noting their responsiveness, deep knowledge of both NetLease and complex accounting standards, and their willingness to accommodate specific needs.
Lease Management Features: Users appreciate the ability to easily manage complex lease modifications and the automated alerts for rent deadlines and option periods.
Implementation Effort (Data Entry): While the software implementation is often described as quick, users note that the initial data gathering and preparation (reviewing and inputting contracts) can be "time-consuming" and require significant upfront effort to ensure accuracy before going live.
Limited Advanced Reporting: A few users report that the out-of-the-box reporting features could be more refined, specifically requesting more comprehensive reconciliation reports and better functionality for sublease accounting, especially as volume increases.
Lease Editing/Error Correction; Some users mention a steep learning curve in the beginning and report that correcting errors made during the initial lease setup can be difficult, emphasizing the need to double-check data before finalizing a lease.
