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NetSuite has recently released its 2023.2 new features preview for Fixed Assets Management. These features enhance functionality around leases, asset splitting, and report template customization. This article will showcase the new features made to the Fixed Assets Management SuiteApp and how they can be utilized. The new features included are:
- Split Fully Depreciated Assets
- Bulk Asset Split
- Modify Lease Records with Semiannually and Quarterly Rental Frequency
- Lease Calculation Updates for Operating Lease
- Optimized Validation for Fixed Asset Report Template Customization
Split Fully Depreciated Assets
Fully depreciated assets are now supported in the Asset Split workflow. On the Asset Split page, fully depreciated assets will now be available for selection in the Asset Name/ID field. Only disposed assets or assets defined as inactive on the asset record are NOT supported in asset split transactions.
Here is an example of a fully depreciated asset with a quantity of 5 that we would like to split:
Navigate to Fixed Assets > Transactions > Asset Split. Populated the Asset ID/Name. Then populate the Split Details:
Jack White
Jack White is a Supervisor NetSuite Technology Consultant at RSM US LLP.
