Managing Fixed Assets with NetSuite

Is excel currently being used to manage fixed assets? Why not bring fixed assets into your ERP and let NetSuite help you manage them?

The NetSuite Fixed Asset bundle integrates managing fixed assets with your ERP. The bundle streamlines the process from asset creation from transactions through depreciation journals and ending with sale or disposal entries. The bundle also includes out of the box reports and searches to assist in analysis of assets. Below are key highlights for each part of the process.

Asset Creation

1. Assets can be reviewed and created from transactions reducing data entry and saving time
2. Asset form can be customized to track any additional required information

Depreciation

1. Has predefined deprecation methods and the ability for custom methods of deprecation
2. Can track alternative methods of depreciation on each asset, meaning you can track depreciation of assets more than one way (ie, tax, accounting)
3. Creates the monthly depreciation journal entry at the time of depreciation reducing the manual step of entering or loading depreciation journals

Sales/Disposal/Write off

1. Automatic creation of sales order & journals at the time of selling an asset
2. Creates journals and update asset record simultaneously at the time of disposal or write off

Reports/Searches

1. Standard built in reports/searches allowing for immediate analysis
2. Ability to customize built in searches or create new searches to improve analytics

The Fixed Asset Bundle for NetSuite improves efficiencies and reduces the chance of error by integrating the whole process into one system. If you would like to learn more about the Fixed Asset bundle or NetSuite please contact RSM at erp@rsmus.com or by phone at 855.437.7202.

By: Kelsey Cantrell – National NetSuite Solution Provider

Kelsey Cantrell