Discussions
Stay up-to-date with the latest news from NetSuite. You’ll be in the know about how to connect with peers and take your business to new heights at our virtual, in-person, on demand events, and much more.
New AI Community Guidelines. Please review and follow them to ensure AI use stays safe, accurate, and compliant.
NetSuite Admin Tip: Fixed Asset Management > How to Best Handle Invalid Assets?
In industries such as construction, companies handle a substantial volume of assets, and using NetSuite simplifies asset management, offering a comprehensive solution to efficiently manage assets throughout their lifecycle. Instances may arise wherein users inadvertently generate erroneous entries, such as mistakenly inputting an incorrect Purchase date for a construction vehicle, leading to inaccuracies in the asset's depreciation schedule.
In this article, we’ll discuss 2 ways on how to handle invalid assets and determine what suits your business.
Let us use this example:
As you can see on the photo, both assets are newly created and there has been no transaction that was processed.
Tagged:
0