NetSuite’s Fixed Assets module extends the end-to-end capabilities of NetSuite with advanced features for Fixed Asset management. These tools give growing and midsize businesses sophisticated functionality, made simpler with NetSuite.
Why NetSuite Fixed Assets: The NetSuite Fixed Asset design flexibility allows it to be used by a wide variety of businesses, and allows for the storage of a range of different assets and depreciation methods. New assets can be manually created, or proposed based on General Ledger transactions. Assets can also be imported from text files, simplifying asset take-on. The Fixed Asset Register allows for depreciation of assets using Straight Line, Reducing Balance, Usage and Sum of Digits depreciation methods. Assets may be depreciated monthly, annually or by financial period, and the depreciation may be performed on a single asset, range of assets or for all assets. Each depreciation process automatically posts to NetSuites General Ledger accounts set-up for each asset. You can quickly produce detailed reports for one or many assets when using the Fixed Asset Register. User-specified report options store selections and sort requirements for each of the reports. As the reports are available in Report Writer, each report may be tailored by the user to provide specific reports reflecting their requirements. Asset related transactions can also be tracked through the Accounts Payable transactions.
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