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New to NetSuite | Difference between Asset Record and Asset Value

edited Jun 2, 2025 2:51PM in Basic Accounting

When managing assets—like equipment or vehicles—it's essential to keep track of their value over time. This is where asset records and asset values records come into play. Let’s break this down in an easy-to-understand way!

What are Asset Records?

An asset record is basically a file or entry in a Fixed Asset Management Bundle that holds all the important details about a specific asset. Think of it as a digital folder that contains information about your asset, like its name, type, and purchase date.

To view Asset Records, you may navigate to Fixed Assets > Lists > Assets.

The Role of Asset Values Records

Ayitah Tallada | General Accounting and Asset Management

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