Adam Riches, CPA, moved his firm from spreadsheets to NetLease and cut month-end close time dramatically. The software centralized 230 leases, automated journal entries and reconciliations, and replaced multi-step manual work with single-button actions.
Approximately 230 leases.
Net Lease saved us. Net lease saved us because before we were using spreadsheets for all of our accounting. Lease accounting. And I knew with the new lease standard coming into effect last year that that wasn't going to be possible. So I was monitoring all the leases on the spreadsheet and then reaching out to the accountants telling them, okay, you need to do your journal entry this way and you need to do your journal entry this way. And so I was reaching out to all these accountants and telling them what to do with based off of the spreadsheet. Well, when we got netlease it did all the work for me and for them. And so it was just really nice to have one centralized location for all the information. And then I became the person that did the journal entries. I do the recs too every month and it's just so easy and it saves time because the journal entries, it's just one button, push button. It does the journal entries for all my leases, you know, 230 and they're done. And then I do a reclass to bring the short term to long term liabilities to do those schedules and it's just one button and it's done. The big surprising thing with the software is how easy it is to use my month end close used to take a long time and now all I have to do is push two buttons for net lease from all my journal entries. I have to do the first amortization of those of the schedules, which is one button and then the other button is for the short term, long term term classification.
