Proposal summary

This proposal describes the creation of Fixed assets from Bill/Journal with Netsuite.

Requirement 

QIMA would like to automatically create fixed assets from Bills/Journals when these records are created in Netsuite.

Our Solution

The requirement can be achieved by creating a custom line field named Asset Type in the item line and expense line in Bill. Also need to add the custom field Asset Type in the journal entry line. The available asset types which use the same account will display in this custom field. Users need to choose Asset Type in this custom field. 

We will deploy one server-side script in bill and journal entry which will trigger in the save of the bill/journal. The script will create the asset records for each item/expense line based on the value in the asset type custom field in line.

The script will create a new asset type for new item/expense lines if you edit the existing bill and add new item/expense lines. And it will not update the existing asset type if the user updates the existing item/expense line in the bill/Jurnal.

Field Mapping

Fixed asset fields	For creating asset records for items in the bill	For creating asset records for expense in the bill	For creating asset records for journal lines/adjustment line
Name	Bill. description in the item line.	Hardcode “Auto Generated Asset”	Hardcode “Auto Generated Asset”
ASSET DESCRIPTION	Bill. description in the item line.	Hardcode “Auto Generated Asset”	Hardcode “Auto Generated Asset”
ASSET TYPE	Bill.asset type new custom line field	Bill.asset type new custom line field	journal.asset type new custom line field
ASSET ORIGINAL COST	Bill.itemline amount	Bill. expenseline amount	Journal.debit amount
ASSET CURRENT COST	Bill.itemline amount	Bill. expenseline amount	Journal.debit amount
SUBSIDIARY	Bill.subsidiary	Bill.subsidiary	Journal.subsidiary
PURCHASE DATE	Asset record creation date	Asset record creation date	Asset record creation date
DEPRECIATION START DATE	Asset record creation date	Asset record creation date	Asset record creation date
SUPPLIER	Bill.vendor	Bill.vendor
PARENT TRANSACTION	Related Bill	Related Bill	Related journal/adjustment
PARENT TRANSACTION LINE	Bill.transaction line number	Bill.transaction line number	journal.transaction line number

Risk

1. If the user doesn’t enter the value in the asset type custom line field, the script will not create the asset record for this item/expense.
2. In this proposal, we are considering the real-time process of a maximum of 100 lines in bill/expense. If there is any chance of coming up with more than 100 lines in the bill/journal, then we need to consider the scheduled process. This is not included in this scope