Discussions
Stay up-to-date with the latest news from NetSuite. You’ll be in the know about how to connect with peers and take your business to new heights at our virtual, in-person, on demand events, and much more.
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
Update your Profile with your Support type to get your Support Type badge.
Uncover the power of data with the Analytics Hub —your ultimate guide to mastering NetSuite Saved Searches and Reports. Simplify the complex and unlock your organization's true potential. Dive into the Analytics Hub now and soar to new heights!
To help you get the most out of your 2025.2 Release Preview account, review the topics outlined in the 2025.2 Release Preview Guide.
Nominate Your Peers for NetSuite Support Community's Choice of the Quarter! Submit your nomination today.
Intelligent Payment Automation version 1.0.3 is now available in the SuiteApp Marketplace. The SuiteApp, powered by BILL, lets you automate payments, manage vendor details, and bank account information within NetSuite. Learn more

NetSuite Admin Tip | Lease Permission

edited Jul 3, 2025 1:58PM in NetSuite Admin Corner

The Fixed Assets Management SuiteApp includes Lease Accounting feature, a powerful tool designed to simplify compliance with international accounting standards. This innovative addition is specifically tailored to meet the requirements of IFRS 16 and ASC 842, which mandate significant changes in how leases are recognized and reported.

The new standards have a profound effect on lessees, requiring them to recognize nearly all leases and make corresponding adjustments to their balance sheets. This means that, starting January 1, 2019, all operating leases will need to be transferred to the balance sheet, ensuring greater transparency and accuracy in financial reporting.

Enabling the Lease Accounting Feature

To ensure users can effectively manage these changes, the Lease Accounting feature provides a comprehensive solution. However, to access the Lease records, Administrators must first enable the

Ayitah Tallada | General Accounting and Asset Management

Gamification Merch.gif

Did you know your engagement in our programs can lead to awesome surprises? That's right!

By participating and showcasing your skills, you'll get a chance to win exclusive rewards. Are you ready to unlock your potential and claim these amazing perks?

Learn more and join in the fun:

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!

Leaderboard

Community Whiz

Quarter 4 (Oct-Dec 2025)

This Week's Leaders

This Month's Leaders

All Time Leaders