If Fixed Asset Management is installed in your organization’s NetSuite account, there is important information to know about upcoming changes and exciting new features. The new Lease Accounting feature will be included in the Fixed Assets Management SuiteApp in the v19.1 releasing in 2019, in the March or April timeframe. Are you interested in setting up Fixed Asset Management or Lease accounting? Contact us today to get started with a NetSuite financial expert. 916.943.4428 | www.proteloinc.com

1. NetSuite 2019.1 Release:
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Fixed Asset Management
& New Lease Accouting
Features

2. If Fixed Asset Management is
installed in your organization’s
NetSuite account, there is
important information to know
about upcoming changes and
exciting new features.
NetSuite 2019.1 Release
www.proteloinc.com 916-943-4428

3. 1 What is Changing?
Lease Proposal is a new custom transaction record introduced in Lease Accounting feature.
It let users propose a new lease, define the terms of the lease, add lease payments, and
create the lease amortization schedule.
Lease Proposal Record
Reccomended Actions:
Enable Custom Transaction in Setup > Company > Enable Features >
SuiteCloud > Custom Transaction

4. Lease Accounting feature allows you to recognize the right-of-use asset and lease liability,
and to accrue interest. To do this, users must create new GL accounts and set it to the
Lease Proposal record.
Reccomended Actions:
Add the GL accounts in Lists > Accounting > Accounts > New
New GL Accounts for Lease Accounting
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2

5. www.proteloinc.com 916-943-4428
Lease Proposal, Vendors, Lease Payments are new permissions needed to ensure you
can properly use the Lease Accounting feature. These new permissions are added to
the Fixed Assets Management role included in the bundle.
ADD THE FOLLOWING PERMISSIONS TO CUSTOM ROLES:
1. Navigate to Setup > Users/Roles > Manage Roles.
2. Click the Edit link next to the custom role.
3. Under the Permissions subtab, click Custom Record.
4. Add the following permission:.
Lease Accounting related permissions3

6. Are you interested in setting up Fixed Asset Management or Lease accounting?
Contact us today to get started with a NetSuite financial expert.
Whatever industry or sector you are in, our highly skilled NetSuite team at
Protelo understands your business challenges and the solutions you need to
succeed. Take advantage of our flexible service offerings, and benefit from an
in-depth knowledge of business applications that will ensure you get the
solution, licenses, services, and support that’s right for you.
www.proteloinc.com 916-943-4428
Contact Our Expert
NetSuite Team Today.