Updating Fixed Asset Cost for Depreciating Asset

Question

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?

I’ve attached a sample screenshot showing the current asset status and cost.

Thanks in advance for your help and insights!

Ayitah Tallada-Oracle · Accepted Answer

Hi @nag_m

To adjust the cost of your asset, the recommended method is thru Asset Revaluation. You can find detailed instructions in SuiteAnswer 24814 | Increase or Decrease the Asset Cost using Fixed Asset Revaluation.

Additionally, pay attention to the 'Revision Rules' of your Asset prior to performing asset revaluation. You have two options: 'Current Period' and 'Remaining Life.' The chosen setup will impact how depreciation is calculated after the revaluation. This is also documented on SuiteAnswer 105122 | Asset Types.

Hope this helps.

Regards,

Ayie