In Fixed Asset Management, one of the key setup options is the “Allow Asset Value Editing” feature. The Allow Asset Value Editing option will give the Administrator and other Custom Roles the ability to modify fields in the Asset Record To enable this: Navigate to Fixed Assets > Setup > System Setup General Tab… Continue reading Allow Asset Value Editing – Fixed Asset Management Setup
Tag: fixed asset
Fixed Asset bundle provisioned but not available for installation
Scenario: FAM bundle has been provisioned to the NetSuite account based on the Billing information. However, the bundle is not available for installation. Findings: Based on SuiteAnswers #103553, the FAM bundle will be available only in selective timings. Important: The availability schedule during phased upgrades applies only to customers who will be installing the Fixed… Continue reading Fixed Asset bundle provisioned but not available for installation
identify Assets included in the depreciation from Depreciation Journal
The Depreciation Journals do not indicate the Assets that were depreciated for the period. The alternate solution is to create a Saved Search to show a list of these assets. Here’s how you can do it: (A) This is the Depreciation Journal What we need to to get the BG Summary records. a. Go to the Custom tab > BG Summary… Continue reading identify Assets included in the depreciation from Depreciation Journal
Import Preference for Mid-life, Fully Depreciated, and Disposed Assets
If you are importing mid-life, fully depreciated, or disposed assets, set these preferences as follows: In Setup > Import/Export > CSV Import Preference, check the Run Server SuiteScript and Trigger Workflows box. In Fixed Assets > Setup > System Setup, clear the Run Server Script on CSV Import box.
Fixed asset Deletion
Download the sample file on here link (Click here for a sample file) at Bulk Asset Deletion page, we can see that ID and Name Columns have “For display only” description on line 5. With this, we know that we can remove these columns for easier import. Update the CSV File and remove ID and… Continue reading Fixed asset Deletion
Depreciation History Not Displayed for Newly Created Asset
When a user creates an asset via Fixed Assets > Lists > Assets > New, the depreciation history records (apart from acquisition) may not appear immediately. Solution: To resolve this issue, an administrator can choose from the following options: Option 1: Trigger the script manually by navigating to Fixed Assets > Setup > System Setup… Continue reading Depreciation History Not Displayed for Newly Created Asset
Use Custom Journal Preference IN FAM
This preference utilizes NetSuite’s feature for creating Custom Transactions. If this feature is disabled, the preference will not be available. To enable it: Navigate to Setup > Company > Enable Features. Click the SuiteCloud tab. In the SuiteGL section, locate Custom Transactions. Check the Custom Transactions box. Click Save.
Fixed Asset Deletion
Navigate to Fixed Assets > Setup > Delete Assets. In the Delete Invalid Assets page, you can add assets to be deleted either through the Asset Details sublist or by importing a CSV file. To add assets via the Asset Details list: From the Asset Details list, select the asset ID or name you wish… Continue reading Fixed Asset Deletion
How to calculate the Monthly Depreciation
Monthly Depreciation = (Current Cost – Residual value) / Lifetime This equation will generate the monthly depreciation.
Stop Asset Depreciation on Fixed Assets
Scenario The user wants to stop Fixed Assets from depreciating. Solution Navigate to Fixed Assets > Lists > Assets Click Edit Click General Depreciation Active: Select False Click Save Navigate to Fixed Assets > Setup > System Setup Click Reset Asset Values Note: No depreciation will be recorded on the FAM Asset after its Last Depreciation Date if depreciation will be run.