NetLease
By Netgain Solutions
NetLease typical implementation process:
Requirements assessment: Gather business requirements, compliance standards needed (ASC 842, IFRS 16, GASB 87, GASB 96), and define stakeholder goals for lease accounting.
System provisioning: Deploy and activate NetLease within the organization’s NetSuite environment, without the need for third-party integrations.
Data import and setup: Import lease data using intuitive CSV templates, configure initial lease portfolio, and set up key details such as payment schedules and asset tracking.
Workflow customization: Tailor NetLease workflows for lease setup, approval, payment processing, reporting, and compliance processes to fit business and audit needs.
Role and permission assignment: Define user roles, access controls, and approval chains within NetSuite according to organizational policies.
Training and onboarding: Provide users and accounting staff with training sessions and documentation for using NetLease features, reporting, and compliance workflows.
Pilot and validation: Run end-to-end tests, including journal entries, AP reconciliations, and report generation, to ensure lease accounting accuracy and regulatory compliance.
NetLease for NetSuite can be customized extensively to fit specific business needs:
Customizable workflows: Users can tailor each stage of the lease accounting process, from setup through payment processing, to align with unique organizational procedures and approval chains.
Flexible reporting: NetLease delivers customizable real-time reports and dashboards, empowering organizations to design disclosures and analytics that suit audit, management, or operational requirements.
Scalable solution: The platform grows with your business, supporting everything from a handful to hundreds of leases, and allowing configuration changes as the volume or complexity of leases increases.
Direct NetSuite integration: Embedded natively in NetSuite, NetLease allows organizations to manage and adapt GL posting, payment schedules, and AP reconciliations to their internal standards—without third-party middleware.
Custom import templates: Lease data can be onboarded quickly using customizable CSV imports, simplifying migration and setup for unique business portfolios.
Document management: Users can securely store, categorize, and retrieve all lease-related documentation, metadata, and contract files in ways that suit document retention and compliance policies.
Role-based access: Administrators have control over permissions, approvals, and role assignments, enabling custom user access models that fit different departmental or corporate structures.
Automated compliance: Configurations can be adjusted to maintain ongoing compliance with varying standards (ASC 842, IFRS 16, GASB 87, GASB 96), with rules and schedules adapted to account for regional or industry-specific nuances.
Lease modification and termination handling: Business-specific rules for amendments, early terminations, or scenario modeling can be built into the workflow as needed.
NetLease for NetSuite offers robust training and support resources to ensure new users can efficiently implement and operate the solution:
Guided onboarding: Users receive onboarding support that includes solution configuration, lease data import guidance, and workflow setup tailored to business structures.
User documentation: Comprehensive user manuals and help guides are provided to walk accountants, finance teams, and administrators through all NetLease features and compliance workflows.
Knowledge base access: New users can access Netgain’s online support center and documentation for troubleshooting, step-by-step instructions, and frequently asked questions.
Dedicated customer support: Ongoing technical and product support is available by email, ticket, or phone to help with customizations, updates, and issue resolution.
Training resources: Customers have access to training videos and live walkthroughs, including demonstrations on lease setup, compliance reporting, and journal entry automation.
NetSuite ecosystem support: NetLease leverages the broader NetSuite learning ecosystem, which features online courses, webinars, and certification tracks for ERP, accounting, and custom bundle management.
NetLease for NetSuite leverages a comprehensive range of security measures to protect customer and business data as part of its embedded NetSuite environment:
Data encryption: All data is encrypted at rest and in transit using industry-standard 256-bit encryption, safeguarding information from interception or unauthorized access.
Role-based access control (RBAC): User access is tightly managed through robust, configurable roles and permissions, ensuring only authorized personnel can access, modify, or approve lease-related information.
Multi-factor authentication (MFA): Access to NetSuite and the NetLease module is protected using MFA to add an additional layer of security against unauthorized logins.
Application-only and IP-based access: Administrators can restrict module and data access to select users, specific applications, or approved IP ranges, reducing potential exposure.
Continuous monitoring and intrusion detection: The system employs continuous monitoring through network/server-based intrusion detection systems (IDS), activity logging, security information and event management (SIEM) solutions, and real-time alerts for suspicious or unauthorized actions.
Audit trail and change tracking: Every user action, transaction, API call, or permission change is logged and timestamped to provide an auditable record for compliance, investigations, or audits.
Operational security certifications: The platform adheres to major audit and compliance standards (such as SOC 1, SOC 2, PCI DSS, EU-US Privacy Shield), which ensures that both the NetSuite environment and NetLease meet high requirements for data protection and regulatory compliance.
Secure physical and cloud infrastructure: Data is stored in protected data centers with managed physical access, backup routines, regular security audits, and penetration testing for resilience against threats.
NetLease for NetSuite releases updates regularly, often in line with ongoing product enhancements and compliance changes. Updates are delivered as managed bundles through the NetSuite SuiteApp platform—ensuring both core features and security enhancements are kept current in customer environments. For production environments, notifications are sent to designated contacts outlining key improvements, required configuration steps, and upcoming enhancements. Updates can be automatically pushed (if managed bundle settings allow), or administrators may request and install updates manually at any time via the NetSuite “Installed Bundle” area. The installation itself typically takes just 10–15 minutes once initiated, with step-by-step tracking provided for transparency and minimal disruption. Netgain support is available to guide customers through updates and answer questions about new features, ensuring ongoing compliance and performance.
NetLease for NetSuite, operating as a native SuiteApp within NetSuite, follows standard Oracle NetSuite policies for data ownership and portability:
Data ownership: All lease and financial data entered and maintained in NetLease remain under the customer's ownership and control. NetSuite and NetLease act solely as data processors and custodians, while the subscribing organization retains all rights to its business data.
Export and portability: Customers can export their data from NetLease (and the broader NetSuite environment) using several built-in methods—such as Saved Search, CSV Export, custom reporting, or API-based exports (SOAP, REST, or SuiteAnalytics JDBC/ODBC)—allowing organizations to retrieve, back up, or migrate their entire lease portfolio as structured, machine-readable files.
Access and retrieval: Administrators can configure, schedule, and automate exports of current and historical lease data for both compliance (audit) and operational needs, with options for one-time or recurring downloads in the preferred format.
Retention and deletion: Under the Terms of Service and Data Privacy guidelines, organizations can request deletion of their account and associated data when service ends. NetSuite will remove requested records from its cloud infrastructure in line with global data minimization and privacy norms.
NetLease for NetSuite offers flexible terms for scaling up or down in response to organizational changes:
Customers can upgrade their subscription at any time to add more licenses, features, or modules to accommodate business growth or increased lease portfolio size, with charges prorated or adjusted on the next billing cycle.
Downgrades—such as reducing user licenses or feature sets—can be managed through the NetSuite account portal or by contacting Netgain support, and these changes usually take effect at the end of the current billing period.
No penalties or additional fees are applied for scaling up or down; customers only pay for the actual level of service and number of active accounts being used.
User roles, permissions, and access to modules can be adjusted in real-time to fit new organizational structures or departmental shifts without data loss or operational disruption.
All lease data, settings, and compliance tracking are preserved through scaling adjustments, ensuring continuity of reporting and regulatory compliance.
NetLease for NetSuite follows industry-standard SaaS terms for contract renewal and cancellation:
Automatic renewal: The subscription typically auto-renews at the end of each term unless the customer provides notice of non-renewal—commonly required 30 days before the expiration or upon receipt of a renewal invoice.
Cancellation/termination policy: Either party (customer or provider) can terminate the agreement with advanced written notice, generally within 30 days of expiration, renewal invoice, or if there is a breach not cured in the stated period (usually 30 days for standard breach, 14 days for payment default).
Service access: Upon contract termination, the customer must stop using the product and, if required, return or certify destruction of confidential product materials.
Data access and export: Before the effective termination date, customers are advised to export their lease data and records, as access is revoked upon cancellation.
Refunds and obligations: Generally, no refunds are offered for prepaid subscription periods; outstanding obligations for completed or in-progress periods remain due.
Lease terminations (in-application): For lease records within NetLease, users can initiate mass or individual lease terminations directly, specifying effective dates and closing balances; all related journal entries and disclosures are managed as part of the cancellation workflow.
Renewal notifications: Customers will typically receive renewal reminders and invoices in advance, giving time to review, amend, or cancel before automatic billing for the next term.
NetLease for NetSuite is engineered to meet major global and industry-specific compliance standards for lease accounting and data security:
Lease accounting standards: NetLease ensures compliance with ASC 842 (US GAAP), IFRS 16 (international), GASB 87, and GASB 96 (public sector and subscription IT accounting), enabling accurate financial reporting and audit readiness for organizations across various regulatory environments.
Data security and privacy: The solution operates within NetSuite’s secure, SOC 1 and SOC 2 audited cloud environment, with built-in support for user data privacy, encryption, and access controls.
Operational and IT controls: NetLease leverages NetSuite’s operational controls, audit trails, and change tracking features, which help organizations maintain IT governance, satisfy audit requirements, and demonstrate strong internal control over financial information.
Regulatory audit support: Automated disclosure reports, configuration tracking, and permission management facilitate seamless compliance with both financial and IT regulatory standards, whether for private, public, or multinational enterprises.
