Tag: fixed asset

“Use Custom Journal” preference missing in FAM System Setup

Usually, we see the asset-related journal entries in the Journal list in Transactions -> Financial -> Make Journal Entries -> List. However, we have the preference of using a custom journal type for the asset related journal entries. Subsequently, the journals would be displayed in Fixed Assets -> Journal Entries. We check the ‘Use Custom… Continue reading “Use Custom Journal” preference missing in FAM System Setup

Creation of Alternate Depreciation Methods

Within the Fixed Assets Management SuiteApp, we have the capability to generate various alternative approaches to asset depreciation specifically tailored for tax reporting purposes. Additionally, we can establish a collective tax depreciation method applicable to a set of assets. To initiate the creation of a tax depreciation method, follow these steps: 1. Navigate to Fixed… Continue reading Creation of Alternate Depreciation Methods

Display Depreciation Journals in ‘Fixed Assets -> Journal Types -> Depreciation Entries’ instead of Journal list

The Fixed asset preference ‘USE CUSTOM JOURNALS’. If the preference is marked, the depreciation journals will be listed in the Fixed Assets -> Journal Types -> Depreciation Entries. If the preference is not marked, then the depreciation journals will be listed along with the other Journal transactions in Transactions -> Financial -> Make Journal Entries… Continue reading Display Depreciation Journals in ‘Fixed Assets -> Journal Types -> Depreciation Entries’ instead of Journal list

Fixed Assets> Asset record> Change Asset type> Error: Invalid Location Reference Key xx for Subsidiary xx

You will get this error if the Location assigned to the Asset record is already inactive. 1. Login as the Administrator or any other role that has access to the list of Locations then navigate to Setup> Company> Locations. 2. Mark the Show Inactives box. 3. Look for the inactive Location that is assigned to… Continue reading Fixed Assets> Asset record> Change Asset type> Error: Invalid Location Reference Key xx for Subsidiary xx

Resolving Greyed-Out Asset Field Editing Issue with Custom Roles in NetSuite

To address the issue of being unable to edit greyed-out asset fields using a custom role, follow these steps: 1. An Administrator should go to Fixed Assets > Setup > System Setup. 2. Enable the “Allow Asset Value Editing” option. 3. In the User Roles field, choose the roles that require permission to edit asset… Continue reading Resolving Greyed-Out Asset Field Editing Issue with Custom Roles in NetSuite

Set a Preferred Custom Form as the Default form for FAM Asset Records

Scenario – A custom asset form has already been created and the ‘ FORM IS PREFERRED’ checkbox has been marked. However, on opening the asset records, the standard form is shown as default. Check the preferred forms for roles in the FAm asset custom record. Using Administrator Role, navigate to Customization > Lists, Records & Fields > Record Types Click on FAM Asset In… Continue reading Set a Preferred Custom Form as the Default form for FAM Asset Records

Generating Depreciation History error :UNEXPECTED_ERROR: [object Object]

Scenario User navigates to Fixed Assets > Setup > System Setup > Precompute Depreciation Values to generate depreciation schedules when they received an error: UNEXPECTED_ERROR: [object Object] Solution The reason behind the error is because the End Period Number for depreciation method  was populated but the Next Depreciation Method is empty. If the depreciation method covers a limited period (e.g. only… Continue reading Generating Depreciation History error :UNEXPECTED_ERROR: [object Object]