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NetSuite Admin Tip: FAM > Old Account used in Depreciation Journal

edited Aug 31, 2022 5:10PM in NetSuite Admin Corner

Have you recently changed the Depreciation Account on your Asset Record but the Depreciation is still posting to the old Depreciation Account?

Here’s something you might have missed!

The basis of the Depreciation Journals are the BG Summary Records that are created from the Depreciation History Records. Therefore, we need to update these records before we proceed in depreciating the asset/s.

You can do this manually or through a CSV Import. For a simpler illustration, here’s how you can do it manually.

1.      Update the Asset Record by setting the Depreciation Active Field to False

2.      Using an Administrator role, navigate to Fixed Assets > Setup > System Setup

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Micah Timbol | Basic and Advanced Accounting Guru

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