NetSuite Fixed Asset Management
NetSuite Fixed Asset Management provides you with the power to eliminate spreadsheets and manual effort from your company’s asset management processes. NetSuite’s complete and integrated solution gives you an easy-to-manage single 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.
NetSuite Fixed Asset Management enables you to maintain and control the complete asset lifecycle from creation to depreciation, revaluation and retirement. Its detailed asset management functionality supports multiple depreciation calculation types, handling of depreciating and non-depreciating asssets, maintenance schedules, lease and insurance.
NetSuite Fixed Assets allows you the flexibility to select which accounting period to depreciate. As an example, with fixed assets seasonal withdrawal and depreciation, you can choose not to depreciate the asset using asset lifetime usage. Instead, you have the option to stop the asset depreciation during downtime.
Key Benefits of NetSuite Fixed Asset Management:
- Control all transactions related to company assets including asset proposal, creation, depreciation, revaluation, transfer, disposal and split.
- Easily track depreciating or non-depreciating company assets.
- Quickly create assets based on unlimited asset types, and report on them.
- Create assets with the correct quantity and values allowing users to have multiple proposal records from a transaction with more than one quantity to create multiple assets.
- Maintain all relevant details for assets, including insurance, lease and maintenance schedules.
- Track components and depreciate them based on its own depreciable cost and useful lives.
- Move assets from one location to another or from one subsidiary to another.
- Create customize user-defined depreciation methods.
- Post depreciation and asset retirements directly to NetSuite accounts.
- Comprehensively report across assets, valuation and depreciation.
- Easily execute preconfigured reports including asset register, register summary, depreciation schedule and report status.
- Quickly run pre-built saved searches on monthly depreciation, asset additions, asset disposals, asset list, asset register, proposal history, inspections due, insurance renewals due, expiring leases and more.