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Read on for the latest updates including:
• Agenda Builder launch
• SuiteWorld On Air registration
• New NetSuite Prompt Studio Contest
• And more!
Check out this thread to learn more!
Updating Fixed Asset Cost for Depreciating Asset
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?
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