Fixed Asset Import Guidelines

You can migrate the fixed asset data from your previous system to NetSuite using the CSV import feature. Mid-life assets (assets that have already started depreciating) are created in NetSuite by importing data using the CSV Import Assistant. For each asset record, a depreciation history record must be created to record the cumulative depreciation to date.

The Acquisition History Record is automatically created if you define a depreciation start date for the asset.

Import Guidelines

• Prepare the import file. 

1. Add new values for Subsidiary, Department, Business unit and Asset type.
2. Check whether the assets with Asset status Fully Depreciated has the Depreciation Active value as False.
3. Check whether Depreciation Start Date + Asset Lifetime is equal to Depreciation End Date.

• On Fixed Assets > Setup > System Setup, make sure that the Run Server Scripts on CSV Import box is not checked.
• On Setup > Import/Export > CSV Import Preferences, check the Run Server SuiteScript and Trigger Workflows box.
• Before attempting to import asset data, it is best to perform a test import first to verify that your CSV import works without errors. Set up a test CSV file of a few assets and review the formatting carefully to ensure that the data is imported with correct values.

To import Fixed Asset records:

1. Go to Setup > Import/Export > Import CSV Records.
2. In the Import Assistant Step 1 – Scan & Upload CSV File screen:
   1. From the Import Type list, select Custom Records.
   2. From the Record Type list, select FAM Asset.
   3. Select the asset CSV file.
   4. Click Next.
3. In the Import Assistant Step 2 – Import Options screen:
   1. Set Data Handling to Add.
   2. From the Custom Form list, select LTG Fixed Asset Form.
   3. Click Next.
4. In the Import Assistant Step 4 – Field Mapping screen:

Map the following fields in your CSV file to the NetSuite fields.

In the Import Assistant Step 5 – Save Mapping and Start Import screen:

1. Enter an Import Map Name and Description.
2. Click Save & Run.

Creating and Importing Depreciation History Records as CSV

To create Depreciation History records, you must create a saved search that pulls the appropriate fields from the Fixed Assets Management – Asset record. You then export the results of the search to a CSV file. Then you import the CSV file to create the Depreciation History – Depreciation record.

Refer the following field mapping

Importing Alternate Depreciation

After main asset import, upload the Alternate Depreciation records.

• Import Alternate Depreciation for GAAP Reporting Book and USD consolidated 
• Depreciation Method will be SL
• Add appropriate External ID for each file.
• Non USD subsidiary asset Amount is converted to USD. Using the exchange rate (USD as the base currency) convert the amount fields. They are Asset Original Cost ,Asset Current Cost,Residual Value,Current Net Book Value,Last Depreciation Amount, Cumulative Depreciation, and Prior Year NBV.

Steps as follows

1. Prepare an Import File by creating a saved search of the existing Fixed Assets including required fields in NetSuite.
2. Prepare the files for GAAP reporting and USD consolidated books
3. When importing, select import type as custom records and Record type is FAM Alternate Depreciation

Refer the following Field Mapping

• After Importing Alternate Depreciation to both books upload the corresponding Depreciation Records. The same data of alternate depreciation files can be used.
• Prepare the Depreciation History Import file for USD consolidated Book with converted amount fields.
• Import Type – Custom Records and Record Type – FAM Depreciation History

Refer to the Field Mapping