nettTracker - full version 2 Update

In 2025, we released a brand new user interface that was completely redesigned and rewritten to be  more user friendly.  However, there was no significant change to how processing was carried out behind the scenes, nor how we calculated depreciation or other adjustments.

Since that release, we have been working hard to rewrite the parts that you cannot see: bringing together all of the comments and feedback we have received since first releasing nettTracker, as well as our own observations, to create a fantastic new platform for managing your monthly accounting adjustments.

We appreciate that this has taken longer than expected and are grateful for your patience whilst we have worked to create this new platform, however, we are confident that it is going to be worth the wait.
 

So what can you expect from version 2?
We have made improvements to all aspects of nettTracker.  This includes fixed assets and prepayments, where we now calculate all adjustments for the lifespan of the item when it is created not just for a financial year, and also the brand new Loans feature which will be available for all users at no additional cost.  The new calculation processes will also make it possible for us to support larger asset registers.
 

Over the next month, we'll be sending out a weekly newsletter to explain the new features and improvements in more detail, but to get started, below is a summary of what you can expect:
 

Perpetual 'Year-End'
With this feature enabled, it will no longer be necessary to run the 'year-end process’, which is a current requirement.

Make adjustments to depreciation at any time
With the restriction of the 'year-end' removed, you will be able to make adjustments to depreciation in a previous financial year - nettTracker will recalculate future unposted depreciation as required.

Produce reports over any given date range
We have removed the restriction to only view the movements of the asset register or accruals/prepayments for a given financial year.  Instead simply enter the 'to' and 'from' dates.  If you just wish to view the movements for a single month or quarter, it will be easy to do.

View forecasts and projections beyond the current financial year
We have removed the restriction to only view the depreciation forecast for the current and previous financial years.  You'll be able to view the forecast for several years into the future, with the same ability for the prepayment/accrual projections.

Track 'Tax Depreciation'
In addition to the 'book' depreciation, which is the focus for accounting journal entries, you will have the option to monitor tax depreciation and the tax written down value of assets.

Report against disposals and deletions
We understand that sometimes it's easy to delete or dispose assets in error, but it's not so easy to quickly see when those actions would have occurred. A filtered report will now make it easy to check all deletions/disposals with options to reverse the action if necessary.

Create 'Prepayments' from 'Transactions'
In the same way that fixed assets can be created from a transaction coded to a specified 'mapped' account, a prepayment will be able to be created in very much the same way.  This will make the reconciliation of your prepayments much easier.
 

Monitor loans
Initially focusing on 'Hire Purchase’ loans with known interest charges and repayment terms, nettTracker will calculate the required interest charges and post all of the required monthly accounting journal entries.  The interest can be allocated on a straight line basis, or by the ’sum of digits’.

Leases and Right of Use Assets
To help comply with IFRS 16 and FRS 102, for leases with known payments and term, nettTracker will calculate the 'Implicit Rate', the 'Right Of Use' asset value, and in-turn, will calculate and post the required monthly accounting journal entries for interest charges against the lease, and depreciation against the 'Right of Use' asset.
 

When will all of these features be available to you?
The release date has been set to Thursday 29th January - this is less than a week after our co-founder's (Ash's) birthday, so we'll have two parties this month!
 

All of our updates are based on feedback from our users, and we hope you'll enjoy making use of the improvements we've made.  As always, if you have more ideas or feedback, please forward to us as we do note these and take everything into consideration.

This just leaves us to say 'Happy New Year' to you all, and thank you for your continued support.

The nettTracker team