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Fixed Asset_ Depreciation on Sale of Asset

in Ask A Guru 4 comments

We are a project-based company in the minerals sector with diversified business interests, currently migrating from a legacy ERP to Oracle NetSuite. While NetSuite was recommended by our ERP consultants after requirement analysis, we are now being advised that multiple requirements ma yneed customization.

I am looking for expert clarification from the NetSuite community on some fundamental standard capabilities of NetSuite to help us make informed decisions

📢 1.3] In case of sale of an asset during a period (e.g., asset sold on 10th November, with last depreciation run on 31st October):

  • Will the system compute depreciation on a pro-rata basis (WDV method) up to the date of sale (i.e., 10th November) for the purpose of calculating Gain/loss on sale?
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