Discussions

Check out Oracle NetSuite upcoming events and conferences here
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
Update your Profile with your Support type to get your Support Type badge.
Expand your NetSuite knowledge by joining our Ask A Guru Live sessions. RSVP on this event now.
Community Poll: What sort of content would you like to see more of?

NSC | Fixed Asset Management Processes > Accounts that must be set

edited Jan 10, 2024 8:04PM in Accounting / ERP

When creating Fixed Asset Management records, make sure that the accounts are all set to avoid future errors when running FAM processes.

These accounts include following:

Note: This can be found by navigating to: Fixed Assets > List > Assets > Edit the Asset Record > On the Accounts subtab

If these accounts are not set, the following errors may occur:

  1. When running an Asset Transfer: "JOURNALERROR: One or more posting accounts are missing"
  2. When generating a Depreciation Schedule: "Invalid_Precalc_Field_Value: Please enter value(s) for: Depreciation Account, Depreciation Charge Account"
  3. When running an Asset Revaluation: "Invalid_Precalc_Field_Value: Please enter value(s) for: Depreciation Account, Depreciation Charge Account"

Micah Patricia Timbol | Basic and Advanced Accounting, OTC Guru

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!

Leaderboard

Community Whiz

Quarter 1 (Jan-Mar 2024)

This Week's Leaders

This Month's Leaders

All Time Leaders