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We’re excited to announce that the 2025 Community Recap is now available! This special recap highlights the amazing contributions and achievements of our members over the year and celebrates the collective success of our community.
Check your personalized recap to see the impact you made in 2025 and how your efforts helped shape our community’s growth and success.
View Your 2025 Community Recap
Thank you to everyone for your passion, collaboration, and support. Here’s to building an even stronger community together in the year ahead!
Season’s greetings to you and yours! As we head into the holidays (December 24 – January 4), we want to take a moment to celebrate the incredible strength and collaboration within our community. Even during the break, you can continue to benefit from connecting with peers, searching related threads, posting your questions, and marking helpful replies as “Accepted” in the Support Community.
Please note our dedicated team will be on reduced coverage during this time, and regular responsiveness will resume on January 5. Wishing you a joyful and restful holiday season!
-The NetSuite Support Community Team
Navigating the New Lease Accounting Regulations: ASC 842 and IFRS 16
Posted by Tom Kelly, Senior Director of Product Marketing
Now that public companies have adopted ASC 606 for revenue accounting and private companies are on track to do the same by the end of this year, a new accounting change is on the way that will address the way companies account for leases.
These new lease accounting regulations will require strong accounting acumen. The new standards will require organizations that lease assets, or “lessees” to recognize the assets and liabilities of those leases on their balance sheets. The new guidance requires lessees to recognize assets and liabilities for leases with terms of more than 12 months.
Regards,
@Robert Nedelkow-Oracle | NetSuite Support Community Administrator
In case you know someone who is new to NetSuite, we encourage you to direct them to our newly launched "New to NetSuite" page. This page is specifically designed to offer them information and guidance and help them make the most out of their NetSuite journey. Click here for more details.