NetSuite Admin Tip | Depreciation Rules for Fixed Assets in NetSuite

As a Fixed Asset Accountant, you'll often work with NetSuite to record assets. One really important part of this process is setting up depreciation rules. These rules determine how assets lose their value over time, which is important for financial reporting. 

Administrators should take the lead in setting up the depreciation rules, as this is an important setup in Asset Creation. When they fully grasp the impact of each depreciation rule on the financial statements, it becomes easier to avoid mistakes in recording fixed assets. By doing so, they can ensure the accuracy of the financial records and save time on future corrections