August 2023 Update

We are excited to announce our August 2023 NetLease Update:

AI Lease Abstraction (Powered by ChatGPT)

Users can upload a lease agreement to NetLease and ChatGPT will scroll through the agreement for the information relevant to ASC 842 and populate the associated fields in NetLease. Upon completion, a highlighted  version of the lease agreement will automatically be saved under the Documents tab on the lease record.

SBITA Lease Accounting (GASB Only)

Software subscriptions are now considered leases under GASB 96. All GASB entities with software subscriptions will need to use this tool.