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Updating Fixed Asset Cost for Depreciating Asset
Hi,
We’re working with the Fixed Assets module in NetSuite ERP and need your guidance.
We have an asset with Asset Status = Depreciating, and in 2025, the Total Asset Cost has increased due to additional capital expenditure added to the asset.
We're trying to update this cost correctly so that:
- The increased cost is reflected either in the Asset Original or Current Cost.
- The updated cost starts affecting depreciation calculations from 2025 and going forward only – not retroactively.
Could you please help clarify:
- What’s the correct way to increase the asset cost for an already depreciating asset?
- How do we ensure depreciation reflects the new cost from the desired fiscal year onward?
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