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question on automatic Fixed asset creation
Hi, we are in the process of starting to use the Fixet Asset Management module. Now, we have certain so-called "Projects" (NOT a specific project in Netsuite) where we get multiple vendor bills from multiple vendors. These are now booked on an account like "Asset in contruction", and as soon as all the vendor bills are in,…
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Fixed Asset Income Tax Depreciation_ India
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 may need customization. I am looking for…
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Can we control Mid Life lease ROU asset NOT to depreciate for historical period?
Hi, We are using the mid-life lease function and trying to create mid-life asset associated with the lease. However, although the lease setup and schedule performance looks correct, somehow the auto generated asset always shows a "New" [Asset Status] asset, with the related field like [Last Depreciation Period]/[Last…
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Fixed asset register report - negative NBV
Going into Fixed Assets > Searches > Asset Register I tried to create a simple Asset register report to pull the cost b/f, additions, disposals, depreciation and therefore cost c/f, dep'n c/f and NBV values. The NBV value however is coming out negative because it is being calculated on acquisition value not original value,…
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Problems depreciating an asset in multibook
Hello everyone, We're facing a challenge with our multi-book accounting setup. We have two accounting books: our primary book is configured in USD, and our secondary book is in Mexican Pesos. The issue is that when we try to depreciate fixed assets, the process only runs in the principal (USD) book, and for some reason, it…
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Effect of editing date of asset transfer journal entry
Few assets were transferred from Subsidiary A to Subsidiary B, this was performed with transfer date of March 1st, 2025, since all assets were being depreciated for January and February in Subsidiary A. However, managers requested asset transfer journal entry to be edited and changed to January date (also historical…
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Dispose Asset > Sale > Muti Subsidiary Customer
Hi Experts, With the Fixed Asset Management Bundle, one option to dispose is through sale. However on the dispose asset screen, there is no subsidiary field for selecting customer subsidiary. this is for case where customers are setup as multi-subsidiary customer. An error appears if customer primary subsidiary is…
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INVALID_FLD_VALUE error when I try to depreciate an asset
Hello, guys. I'm trying to run an asset depreciation, and I'm getting the following error: INVALID_FLD_VALUE: You have entered an Invalid Field Value 1868 for the following field: account. Does anyone know what this error means and how I can fix it? Thank you!
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Changing Asset Disposal Account
I have a client that would like to change the asset disposal account my questions is do I change the account at the asset type level or on the individual assets, the client would like to have all assets use the new account, also is there any issue or complications I should be aware of. Thank you in advance!
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Updating the useful life of an existing depreciating asset.
Hello, We have few assets, not too many, that we need to increase the life of it. I understand that we need to Reset the value and Pre-compute to update the depreciation schedule. Is there any way to update the Journal Entries created already? Thanks!!