The quick answer
Go to Fixed Assets > Transactions > Asset Depreciation. On Depreciate Assets, pick the asset type and the subsidiary that owns the asset, enter the Depreciation Period date you want to depreciate up to, and click Depreciate Assets. Refresh FAM Process Status until the Asset Depreciation process is Completed, then open its Details and check for errors. To prove the run posted, open the asset's Depreciation Histories: the period's row should now link a journal in Posting Reference. Open that journal and check the accounts, amount, date, and posting period.
The screenshots show sample data. Person and operating-company names are fictional. Use your own records and values when following the steps.
Before you start
This example depreciates one asset for one month. FAM000042, Pallet Racking - Dock 3, is a Warehouse Equipment asset in the Example Supply Co. : Pacific Northwest subsidiary. It cost 57,600.00, has no residual value, and depreciates straight line over 48 months starting 08/01/2026. The asset already exists and its depreciation schedule has been generated. Creating it from a vendor bill through asset proposals is a separate workflow.
You need Fixed Assets Management installed and a role that can run FAM processes and create journals. This example uses standard journals with no journal approval, an open August 2026 period, and one accounting book. If your account uses custom depreciation journals, the journal has to be approved in that process before it posts. If journal approvals are on and you can't approve journals, someone who can has to approve it. Before a month-end run, it's also worth checking that no depreciation journal already exists for the same asset type and month, and that department, class, or location are filled in if your account requires them on journals.
01. Check the asset before you run anything
Go to Fixed Assets > Lists > Assets and click View on FAM000042. Write down the starting values: Asset Original Cost 57,600.00, Current Net Book Value 57,600.00, Cumulative Depreciation 0.00, and Asset Status New. These are what the run should change.
Click the General subtab. Depreciation Start Date is 08/01/2026, Last Depreciation Period is 0, and Last Depreciation Amount is 0.00.
Click the Depreciation History subtab, then Depreciation Histories on the Accounting Method row. The page lists the Acquisition row for 57,600.00 on 08/01/2026 and the scheduled Depreciation rows, one per month for this monthly straight-line asset. The 08/31/2026 row shows 1,200.00 (57,600.00 ÷ 48) and a net book value of 56,400.00, but its Posting Reference is blank. That month is scheduled, not posted.
02. Run Asset Depreciation
Go to Fixed Assets > Transactions > Asset Depreciation. The page is titled Depreciate Assets.
- Asset Type: select Warehouse Equipment. The field isn't required, and leaving it blank can widen the run to other asset types in the subsidiary, so pick the type you mean.
- Subsidiary: select Example Supply Co. : Pacific Northwest, the subsidiary that owns the asset. Leave Include Children clear. Checking it would add this subsidiary's child subsidiaries.
- Depreciation Period: enter 08/31/2026. This is an "up to" date. FAM depreciates eligible assets in scope through the period that contains it, including earlier months they missed. The date has to fall in an existing accounting period. Check the scope before you submit so you don't post months you didn't mean to.
- Depreciation Reference: enter Warehouse Equipment Aug 2026. In this example it shows up in the journal line memo.
Click Depreciate Assets. NetSuite opens FAM Process Status.
03. Follow the process to Completed
The new Asset Depreciation process is at the top with status Queued. Click Refresh. It moves to In Progress, and Process Stage shows where it is, for example 2/7: Create Journal Entries. Keep clicking Refresh until the status is Completed.
Click Details on that row. In this run, 2/7 Create Journal Entries shows Transactions created: 1, and 4/7 Update Asset Records shows Assets/Tax methods updated: 1. The rest are Completed or Not Required, and the Errors column is empty. Not Required means the stage had nothing to do, for example because the schedule already existed. Stage names and counts can vary with tax methods, alternate books, and compound assets.
If a stage shows Completed with Errors, don't run the same scope again straight away. Read the error, then check the asset's depreciation history, posting references, journals, and values to see what already happened. Fix the cause and follow your correction procedure before you rerun, so you don't post the same month twice.
04. Check the asset after the run
Go back to Fixed Assets > Lists > Assets and view FAM000042 again. Current Net Book Value is now 56,400.00 (57,600.00 − 1,200.00), Cumulative Depreciation is 1,200.00, and Asset Status changed from New to Depreciating, as it does after an asset's first posted period.
On the General subtab, Last Depreciation Period is 1, Last Depreciation Amount is 1,200.00, and Last Depreciation Date is 08/31/2026.
05. Open the journal from the Posting Reference
Click the Depreciation History subtab and then Depreciation Histories again. The 08/31/2026 row now shows Journal #JE417 in Posting Reference (your journal number will differ). The 09/30/2026 row and later rows are still blank, because only August was in scope.
Click Journal #JE417. Check the header first: Date 08/31/2026, Posting Period Aug 2026, and Subsidiary Example Supply Co. : Pacific Northwest. If August had been closed, the entry could post to a later open period, so the posting period is worth reading rather than assuming. On the Lines subtab, 6730 Depreciation Expense : Warehouse Equipment is debited 1,200.00 and 1640 Accumulated Depreciation : Warehouse Equipment is credited 1,200.00. Both lines carry the memo Warehouse Equipment Aug 2026 (FAM). The journal recognizes 1,200.00 of depreciation expense and adds 1,200.00 to accumulated depreciation, which is why net book value dropped by 1,200.00. If journal approvals are on in your account, check that the journal is approved.
The accounts come from the asset type's depreciation charge and accumulated depreciation accounts. FAM usually creates one journal per asset type and period, so in a larger run one journal can cover several assets.
06. Reconcile on the Asset Register
Go to Fixed Assets > Searches > Asset Register. This is the FAM Asset Register saved search, not the report you build from Fixed Assets > Reports > Generate Report. In Filters, set From to 08/01/2026 and To to 08/31/2026. The FAM000042 row shows Original Cost 57,600.00, Acquisition 57,600.00, Depreciation 1,200.00, and NBV 56,400.00.
Check the result
- Asset Depreciation is Completed with no errors in its Details.
- FAM000042 shows Current Net Book Value 56,400.00, Cumulative Depreciation 1,200.00, and Asset Status Depreciating.
- Last Depreciation Period is 1 and Last Depreciation Date is 08/31/2026.
- The 08/31/2026 history row links Journal #JE417.
- JE417 posts to Aug 2026, debiting depreciation expense and crediting accumulated depreciation for 1,200.00.
- The Asset Register August row shows Depreciation 1,200.00 and NBV 56,400.00.
Use the register to reconcile amounts, not to prove posting. This saved search adds up the depreciation history rows dated in the range, and scheduled rows count too, so it would show the same 1,200.00 before the run. In the account used for this example, its NBV column showed the activity in the range, not a closing balance, so it only matches the asset's net book value here because the asset was acquired in August. The Posting Reference and the journal are what show that August posted. After the run, reconcile the journal to your general ledger as usual.
Common questions
What does the Depreciation Period date mean on Depreciate Assets?
It's an "up to" date. FAM depreciates eligible assets in the run's scope through the period that contains the date, including any earlier periods they haven't posted yet. For an asset that starts on 08/01/2026, entering 08/31/2026 posts its first month and nothing after it.
Why does my fixed asset still show New after I ran depreciation?
Asset Status moves to Depreciating once a period actually posts, so New usually means nothing posted for that asset. Check that the run's asset type and subsidiary include it, that Depreciation Active is True, and that its Depreciation Start Date isn't after the period you ran. Then open the process Details: a stage with errors can leave the asset unchanged even when a journal was created.
What should I do if FAM depreciation completes with errors?
Don't rerun the same scope straight away. Open Details on FAM Process Status, read the error, and check the asset's depreciation history and journals to see what already posted. Fix the cause and follow your correction procedure before running again, so the same month doesn't post twice.
How do I find the journal that FAM depreciation created?
Open the asset, click the Depreciation History subtab, and click Depreciation Histories on the Accounting Method row. The row for the period you ran shows the journal in Posting Reference. Open it and check the date, posting period, accounts, and amount.
Should I check Include Children when I run depreciation?
Check it when you select a parent subsidiary and want its child subsidiaries' assets in the same run. Leave it clear when you select the subsidiary that owns the assets and want only that one.
Why does the Asset Register show depreciation for a month I haven't run yet?
The Asset Register saved search adds up depreciation history rows dated in its range, and scheduled rows count as well as posted ones. Use it to reconcile amounts. To confirm a month posted, look for the journal in Posting Reference on the asset's depreciation history.