NETSUITE FIXED ASSET

MANAGEMENT
Automated Management of Your Fixed Assets,
From Acquisition to Depreciation to Retirement

NetSuite Fixed Asset Management

Key Benefits
provides you with the power to • Manage the complete asset lifecycle.
eliminate spreadsheets and manual
• Completely integrate asset management
effort from your company’s asset with accounting.
management processes. NetSuite’s • Easily report on all fixed assets.
complete and integrated solution • Eliminate manual effort and
gives you an easy-to-manage single multiple spreadsheets.

version of the truth for your assets,

a flexible fixed asset calculation
engine, complete asset reporting and
seamless integration with NetSuite’s
core accounting functionality.

www.netsuite.com
NetSuite Fixed Asset Management enables
you to maintain and control the complete Key Capabilities
asset lifecycle from creation to depreciation, • Easily track depreciating or non-
revaluation and retirement. Its detailed asset depreciating company assets.
management functionality supports multiple
• Leverage support for all standard
depreciation calculation types, handling of depreciation methods.
depreciating and non-depreciating asssets,
maintenance schedules, lease and insurance. • Create and customize unlimited
depreciation methods.
NetSuite Fixed Assets allows you the
flexibility to select which accounting period • Post depreciation and asset retirements
to depreciate. As an example, with fixed directly to NetSuite accounts.
assets seasonal withdrawal and depreciation, • Comprehensively report across assets,
you can choose not to depreciate the asset valuation and depreciation.
using asset lifetime usage. Instead, you have
• Asset master data management by
the option to stop the asset depreciation
department and other segments.
during downtime.
You can assign tax depreciation methods
to an asset. These assignments enable tax and maintain key fields and details relating to a
reporting or corporate reporting methods particular asset. It allows you to:
to be tracked on the asset. Tight integration • Control all transactions related to company
with NetSuite Financials creates accounting assets including asset proposal, creation,
entries and fixed assets from purchases to depreciation, revaluation, transfer, disposal
help ensure that no equipment slips through and split.
the cracks.
• Easily track depreciating or non-depreciating
Acquire, Depreciate, Dispose of, Transfer company assets.
and Revalue Assets
NetSuite Fixed Asset Management supports • Quickly create assets based on unlimited
the entire company asset management asset types, and report on them.
lifecycle, from creating a purchase order • Create assets with the correct quantity
within NetSuite to tracking, depreciation and and values allowing users to have multiple
eventual retirement. It supports unlimited proposal records from a transaction with
asset types, whether they are subject to more than one quantity to create
depreciation or are non-depreciating assets multiple assets.
that simply need to be tracked. NetSuite
Fixed Asset Management makes asset • Maintain all relevant details for assets,
creation easy, enabling you to default in including insurance, lease and
types when creating an asset and specify maintenance schedules.

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• Use automated defaults for asset creation, Complete Integration with
depreciation and eventual retirement with NetSuite Accounting
minimal effort. NetSuite Fixed Asset Management enables
you to easily create fixed assets from
• Track components and depreciate them
purchase orders while ensuring that all asset
based on its own depreciable cost and
depreciations and disposals are posted to
useful lives.
NetSuite’s core accounting system.
• Move assets from one location to another
• Automate the creation of assets from
or from one subsidiary to another.
purchase orders.
• Increase or decrease asset values through
• Post depreciation and asset retirements
revaluation to reflect its current market value.
directly to NetSuite accounts.
• Account asset’s expenses for repairs.
• Streamline the entire process, including
Comprehensive Support for Depreciation journal posting, bill posting and PO
With NetSuite Fixed Asset Management, billing posting.
you gain complete flexibility to depreciate
Summary and Detail Real-Time
assets based on the right depreciation
Asset Reporting
method. NetSuite Fixed Asset Management
With NetSuite Fixed Asset Management,
provides out-of-the-box methods, as well
you can leverage the full power of NetSuite
as flexibility that enables you to create
dashboards and reports to analyze and report
your own depreciation methods, even
on your company assets in real-time. The
supporting depreciations for both financial
solution ships with out-of-the-box reports,
and reporting purposes.
while giving you the flexibility to build any kind
• Leverage built-in support for all standard of asset report based on business needs.
depreciation methods, including straight
• Comprehensively report across assets,
line, fixed declining, sum of years digits
valuation and depreciation.
and asset usage.
• Slice and dice assets across locations,
• Create customize user-defined
subsidiaries, asset types and more.
depreciation methods.
• Easily execute preconfigured reports
• Use “chain” depreciation methods to
including asset register, register summary,
support comprehensive asset valuations.
depreciation schedule and report status.
• Apply multiple depreciations per asset for
• Quickly run pre-built saved searches on
reporting depreciations.
monthly depreciation, asset additions, asset
• Computes monthly and daily depreciation. disposals, asset list, asset register, proposal

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 Asset Summary
Report

history, inspections due, insurance • Assign an asset to multiple accounting books

renewals due, expiring leases and more. that generate book specific
general ledger impact.
• Customize report layout to fit
business needs. • Run depreciation on any given asset across
one or more sets of accounting books where
Multi-Book Accounting for Fixed book specific depreciation journal entries will
Assets Management be generated.
NetSuite Fixed Asset Management lets
you assign assets to multiple books and • Run Asset Transfers on a per book basis.
automatically convert asset values to the Transferred assets will be automatically
book specific base currency where the converted to the book specific base currency
asset is recorded. values of the destination subsidiary.

• Assign different sets of Fixed Assets • Revalue and depreciate assets to one or more
General Ledger accounts for sets of accounting books where book specific
secondary books. journals entries will be generated.

Copyright © 2018, Oracle and/or its affiliates. All rights reserved.