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New to NetSuite | Why Creating a Fixed Asset Doesn't Automatically Affect the General Ledger
Getting started with NetSuite can be exciting—and sometimes a bit confusing, especially when learning how fixed assets connect to your financial records. One common question from new users is: "When I create a fixed asset, does it hit the General Ledger (GL) right away?" The answer is—no, and here’s why.
Asset Creation in NetSuite: What Happens?
When you use NetSuite's Fixed Assets Management module to create a new fixed asset such as a computer, vehicle, or piece of equipment you’re entering information like:
- Asset name and type
- Location
- Acquisition cost
- Depreciation method and useful life
However, this initial step is primarily about tracking the asset and its details. No financial entries are posted to the General Ledger just by creating or saving an asset record.
Ayitah Tallada | General Accounting and Asset Management
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