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?
Please note that on Saturday, June 22, 2024, at 8:00 PM Pacific time, our Case Management System will undergo a scheduled maintenance for approximately 60 minutes. During this time, case creation via SuiteAnswers will be unavailable and inbound calls will be routed to Customer Service.

NSC | Fixed Asset > How to Change the Current Net Book Value

edited May 27, 2024 12:45PM in Accounting / ERP

Scenario:

The user would like to edit the Current Net Book Value of an Asset.

Solution:

  1. Edit the FAM Asset
  2. Adjust the Asset Fields to their accurate values as needed.
  3. Save the modifications.
  4. Reopen the FAM Asset for editing.
  5. Access the General tab, on the Depreciation Active field > Set it to false. Save the changes.
  6. This action initiates a background process to queue a Reset Asset Values Process. Its purpose is to eliminate all depreciation history records and forecasts after the Last Depreciation Date.
  7. Revisit the FAM Asset for further adjustments.
  8. On the General tab, on the Depreciation Active field, set it back to True. Then, save the changes.

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 2 (Apr-Jun 2024)

This Week's Leaders

This Month's Leaders

All Time Leaders