NetSuite guide collection
Set up assets and leases, run depreciation, and check transfers, disposals and the resulting journals.
Group existing NetSuite FAM assets under one compound asset with Build Compound Asset, see why a component with a different Asset Type is refused, and check the rolled-up cost, the Components subtab and each component's Component Of.
Extend a depreciating fixed asset's lifetime in NetSuite FAM with Asset Revaluation, then check the catch-up journal, the asset's new values and the rebuilt depreciation schedule.
Use Fixed Assets > Reports > Generate Report to answer two questions: Asset Summary for cost, depreciation and net book value by asset type, and Depreciation Schedule Period Depreciation for next quarter's monthly expense.
Run the first depreciation for a NetSuite FAM lease asset, check the journal it posts, and see how it differs from the lease interest journals on the same lease.
Sell or write off a NetSuite FAM asset on Asset Sale/Disposal, check the Disposed status, disposal journal and sale invoice, and see when Delete Assets is the right tool instead.
Migrate an in-service fixed asset into NetSuite Fixed Assets Management with its prior depreciation: import the asset, import one history row for the depreciation to date, and precompute the remaining schedule.
Review a NetSuite FAM asset proposal, generate the selected asset and trace its parent transaction. Check acquisition cost, quantity and depreciation defaults.
Run one month of FAM depreciation for an asset in NetSuite, follow the process stages, and confirm the net book value, posting reference, journal, and Asset Register.
Create a Fixed Assets Management asset type with its depreciation defaults and accounts, then create an asset and check which values it inherits from the type.
Generate a NetSuite FAM lease's payments, create the lease journal for the net present value, propose and generate the right-of-use asset, then record lease interest.
Split some units of a bulk NetSuite FAM asset into their own asset with Asset Split, then check the new asset, the original's reduced quantity and cost, and the split row in its depreciation history.
Move a depreciating NetSuite FAM asset to a new department with Asset Transfer, then check the asset, the transfer rows in its depreciation history, the four-line transfer journal, and regenerate the deleted forecast.
Move several NetSuite FAM assets to a new department in one upload with Asset Transfer > Import CSV: build the Asset and Department file, submit it, follow the CSV Asset Transfer process, then check each asset, its own journal and its history.
Record an impairment write-down on a depreciating fixed asset in NetSuite FAM with Asset Revaluation, then check the depreciation history, the journal, and the asset's new cost and net book value.