Fixed Assets Management

March 18, 2020 2020.1

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Table of Contents
Fixed Assets Management Overview ......................................................................................... 1
Fixed Assets Management SuiteApp .......................................................................................... 2
Installing the Fixed Assets Management SuiteApp ................................................................... 3
Multi-Language Support for the Fixed Assets Management SuiteApp .......................................... 3
Updating the Fixed Assets Management SuiteApp ................................................................... 4
Making the Fixed Assets Tab Available to Custom Roles ............................................................ 4
Setting Fixed Assets Management Permission Levels ............................................................... 5
Viewing Script Error Notification Settings for Fixed Assets Management ...................................... 9
Setting Up the Fixed Assets Management System ...................................................................... 10
Summarizing Journal Entries .............................................................................................. 14
Managing Fixed Assets Scripts ............................................................................................ 16
Custom Segments and Custom Fields in Fixed Assets Management Records and Transactions ....... 19
Setting Up and Using FAM Diagnostics ................................................................................ 22
General Ledger Accounts for Fixed Assets Management ............................................................. 23
Asset Transfer Accounts ........................................................................................................ 25
Depreciation Methods ........................................................................................................... 26
Preconfigured Depreciation Methods ................................................................................... 26
Creating a New Depreciation Method .................................................................................. 31
Depreciation Formula ........................................................................................................ 32
Alternate Methods (Tax Depreciation Methods) ......................................................................... 36
Creating Alternate Methods (Tax Depreciation Methods) ......................................................... 36
Viewing or Editing Alternate Methods (Tax Depreciation Methods) ............................................ 37
Adding Tax Depreciation Methods to an Asset ...................................................................... 37
Using Tax Depreciation Methods ........................................................................................ 38
Asset Types ......................................................................................................................... 39
Creating Mid-life Assets by Importing CSV Records .................................................................... 43
Updating Fixed Assets Management Records ............................................................................ 52
Updating Asset Records Using CSV Import ........................................................................... 52
Adding Alternate Depreciation Methods Using CSV Import ...................................................... 53
Triggering the Asset Reset Process ..................................................................................... 55
Manually Editing Asset Records .......................................................................................... 57
Restricting the Editing of Asset Values ................................................................................. 57
Manually Creating Asset Records ............................................................................................ 59
Creating Asset Records from Transactions ................................................................................ 71
Asset Proposal and Generation ........................................................................................... 71
Asset Creation ................................................................................................................. 75
Multiple Asset Proposal ..................................................................................................... 76
Managing Assets .................................................................................................................. 80
Asset Depreciation ............................................................................................................ 80
Group Tax Depreciation .................................................................................................... 84
Asset Disposal by Sale or Write-Off ..................................................................................... 86
Partial Disposal of an Asset ................................................................................................ 90
Revaluation of an Asset ..................................................................................................... 90
Asset Split ....................................................................................................................... 92
Asset Transfer .................................................................................................................. 93
Deleting Assets ................................................................................................................ 97
Viewing and Approving Custom Journal Entries ..................................................................... 98
Fixed Assets Lease Accounting ............................................................................................... 99
Prerequisites ................................................................................................................... 99
Creating a Lease Record .................................................................................................. 100
Adding Lease Payments ................................................................................................... 103
Generating the Lease Amortization Schedule ...................................................................... 106
Creating Lease Journal Entries .......................................................................................... 106
 Recording Lease Interest ................................................................................................. 106
Asset Proposal and Generation ......................................................................................... 107
Migrating Existing Lease Details ........................................................................................ 108
Modifying Lease Records ................................................................................................. 108
Fixed Asset Error Recovery Script .......................................................................................... 111
Fixed Assets Saved Searches ................................................................................................ 113
Asset Reports ..................................................................................................................... 115
Generating Asset Reports ................................................................................................ 118
Customizing the Fixed Assets Report Template .................................................................... 121
Customizing the Fixed Assets Report Template through the User Interface ........................... 121
Customizing the Fixed Assets Report XML Template ......................................................... 122
Viewing Fixed Asset Reports ............................................................................................. 127
Background Processing of Fixed Assets .................................................................................. 129
Multi-Book Accounting for Fixed Assets Management ............................................................... 132
Getting Started with Multi-Book Accounting for Fixed Assets Management ............................... 132
Managing Assets in Multiple Books .................................................................................... 134
Defining Asset Accounts and Values for Multiple Books ..................................................... 134
Linking Accounting Books to an Asset ............................................................................ 136
Asset Proposal ........................................................................................................... 137
Running Depreciation on an Accounting Book ................................................................. 137
Transferring Fixed Assets Within Multi-Book Accounting .................................................... 138
Revaluating an Asset in Multiple Books .......................................................................... 139
Disposing an Asset in Multiple Books ............................................................................. 139
Splitting an Asset in Multiple Books ............................................................................... 140
 Fixed Assets Management Overview 1

Fixed Assets Management Overview

The NetSuite Fixed Assets Management SuiteApp provides automated management of fixed assets
acquisition, depreciation, revaluation, and retirement, as well as maintenance schedules and insurance.
You can import new assets and mid-life assets into NetSuite to track asset depreciation, including
the depreciation history of mid-life assets. New asset records can also be created manually or from
purchases, expenses, and inventory transfers in NetSuite.

Fixed assets, as opposed to current assets, are assets with a remaining useful life of over a year. Following
the accruals principal, fixed assets are shown on the balance sheet, but their value is depreciated and
treated as an expense in the P & L (profit and loss) account for each year of their life.

An asset can be defined as any piece of equipment or any resource that requires depreciation, or against
which details of insurance, leasing, maintenance, or any user-defined details must be recorded. Accurately
tracking, controlling, and depreciating assets is required in all businesses. The Fixed Assets Management
SuiteApp provides a single source of information for everything relating to that asset.

Because of its design flexibility, the Fixed Assets Management SuiteApp can be used by a wide variety
of businesses, and supports the storage of a range of different assets and depreciation methods. Aside
from supporting the standard depreciation methods—Straight Line, Fixed Declining, Sum of Years Digits,
and Asset Usage—the SuiteApp also supports user-defined depreciation methods which can be linked
together.

The ability to categorize assets into asset types in setup, and to provide defaults for the assets, makes
asset creation, depreciation, and retirement manageable.

With the asset ledger accounts defined, fixed assets can be automatically proposed for creation, or even
automatically created by posting the originating document. For example, posting a purchase bill for a new
asset will automatically ensure that asset is proposed for creation within the Fixed Assets Management
system, along with all the applicable information from that bill.

The system enables you to manage even non depreciating assets such as mobile phones, software,
and hired plant or machinery. This is useful for tracking employee ownership of items, and for tracking
insurance and maintenance schedules of assets.

For more information, read the Fixed Assets Management SuiteApp topic.

Fixed Assets Management

 Fixed Assets Management SuiteApp 2

Fixed Assets Management SuiteApp

The NetSuite Fixed Assets Management SuiteApp helps you manage fixed assets acquisition,
depreciation, revaluation, and retirement, as well as asset maintenance schedules and insurance.

The Fixed Assets Management SuiteApp automatically updates your account whenever bug fixes, new
features, and other improvements in the bundle become available.

For more information, see:

■ Fixed Assets Management Overview

■ Installing the Fixed Assets Management SuiteApp
■ Updating the Fixed Assets Management SuiteApp

After installing the NetSuite Fixed Assets Management SuiteApp, read the following topics to complete
additional setup tasks:

■ Making the Fixed Assets Tab Available to Custom Roles

■ Setting Fixed Assets Management Permission Levels
■ Setting Up the Fixed Assets Management System
■ See General Ledger Accounts for Fixed Assets Management for details on defining accounts to be
used.
■ See Asset Transfer Accounts for details on setting up asset transfer accounts.
■ See Depreciation Methods for details on setting up depreciation methods.
■ See Alternate Methods (Tax Depreciation Methods) for details on setting up alternate methods.
■ See Asset Types for details on creating asset types.

To migrate fixed asset data from your previous system to NetSuite, see Creating Mid-life Assets by
Importing CSV Records.

To learn how you can create and update asset records, read the following topics:

■ Updating Fixed Assets Management Records

■ Manually Creating Asset Records
■ Creating Asset Records from Transactions

To learn how to manage depreciation, read the following topics in Managing Assets:

■ Asset Depreciation
■ Asset Disposal by Sale or Write-Off
■ Partial Disposal of an Asset
■ Revaluation of an Asset
■ Asset Split
■ Asset Transfer
■ Fixed Asset Error Recovery Script

To use saved searches and reporting features for fixed assets, read the following topics:

■ Fixed Assets Saved Searches

■ Asset Reports

To understand fixed asset background processing and error messages, see Background Processing of
Fixed Assets.

Fixed Assets Management

 Installing the Fixed Assets Management SuiteApp 3

Installing the Fixed Assets Management SuiteApp

Important: The following installation steps are for customers who do not have the Nolan
bundle. If you have originally purchased the Fixed Assets Register non-managed bundle from
Nolan (ID 1325), you must update to the NetSuite Fixed Assets Management SuiteApp. For
information, see Updating the Fixed Assets Management SuiteApp.

Note: For best results and to save time, let SuiteConsulting Professional Services help implement
and customize NetSuite for your unique business requirements. Contact your NetSuite sales
representative for more information.

Prerequisites
Before you install the Fixed Assets Management SuiteApp, go to Setup > Company > Enable Features, and
then click the SuiteCloud tab. Make sure that the following features are enabled on your account:

■ Custom Records
■ Client SuiteScript
■ Server SuiteScript

Installation
To install the Fixed Assets Management SuiteApp, go to Customization > SuiteBundler > Search & Install
Bundles, and then click Advanced.
Use the following information to search for the SuiteApp:

■ Bundle Name: Fixed Assets Management

■ Bundle ID: 266022
■ Location: Production (Account ID 5435902)

For information on installing SuiteApps, see the help topic Installing a Bundle.

Note: If the Install button is not available, this SuiteApp may not have been shared with your
account. To get access to the SuiteApp, contact NetSuite Customer Support.

Multi-Language Support for the Fixed Assets

Management SuiteApp
Fixed Assets Management supports the following languages:

■ Chinese (Traditional)
■ Chinese (Simplified)
■ Czech
■ Danish
■ Dutch
■ English
■ French
■ French (Canada)

Fixed Assets Management

 Multi-Language Support for the Fixed Assets Management SuiteApp 4

■ German
■ Italian
■ Japanese
■ Korean
■ Portuguese
■ Russian
■ Spanish
■ Spanish (Latin America)
■ Swedish
■ Thai
■ Turkish

To set the language preference for Fixed Assets Management:

1. Go to Setup > Company > Enable Features.
1. Check Multi-Language.
2. Click Save.
2. Go to Setup > Company > General Preferences.
1. On the Languages subtab, add your preferred language.
2. Click Save.
3. Go to Home > Set Preferences.
1. On the General subtab, in the Language field, select your preferred language.
2. Click Save.

Updating the Fixed Assets Management SuiteApp

The NetSuite Fixed Assets Management SuiteApp automatically updates your account whenever bug
fixes, new features, and other improvements in the SuiteApp become available.
However, if you are using the Fixed Asset Register bundle provided by Nolan (ID 1325), then you must
update your bundle to the NetSuite Fixed Assets Management SuiteApp using the steps provided in this
document:

■ Updating Existing Fixed Asset Register Bundles (version 1.5 and up)

Important: To upgrade earlier versions of the Fixed Assets Register bundle (1.2 or 1.3
versions), contact NetSuite Professional Services.

Note: Bundles are also known as SuiteApps.

Making the Fixed Assets Tab Available to Custom

Roles
The Fixed Assets Management SuiteApp creates a custom center tab named Fixed Assets that contains
links to all Fixed Asset custom records and suitelets (custom pages). The Fixed Assets tab is applied to the
Classic Center and Accounting Center.

Fixed Assets Management

 Making the Fixed Assets Tab Available to Custom Roles 5

To view the Fixed Assets tab:

1. Go to Customization > Centers and Tabs > Center Tabs and click the Fixed Assets link to view the
setup of this custom tab.
2. Use one of these options to make the Fixed Assets tab visible to custom roles:
■ Go to Home > Set Preferences > Appearance tab and check Use Classic Interface to see the
tabs in NetSuite shown as the Administrator role displays them.
Each user who enables this option sees the tabs appropriate for his or her role, and can
navigate the application similar to the administration.
■ Create a new custom Center tab for the Accounting Center (or other center). On this tab, you
can provide the desired links for each role to the Fixed Asset custom records and pages. For
example, you might want to remove the set up links for most roles and use them only for
Administrators.

Setting Fixed Assets Management Permission

Levels
If you have custom roles and want those roles to have access to the Fixed Assets Management SuiteApp,
you must make sure that each custom role has all the appropriate permission levels to use the Fixed
Asset custom record entries. For instructions on customizing roles, see the help topic Customizing or
Creating NetSuite Roles.

The Fixed Assets Management SuiteApp provides a default role called Fixed Assets Management, which
has all the permissions required to use the SuiteApp. You can use this as a template when creating or
modifying an existing role for Fixed Assets Management access. Or if you are already using customized
roles and want to add permissions to those roles to use Fixed Assets Management, compare your
customized role with the Fixed Assets Management role that is provided with the SuiteApp. And then edit
your customized role to make sure that it has the same permissions as the Fixed Assets Management
role. Go to Setup > Users/Roles > Show Role Differences to open the Show Permission Differences
Between Roles page. For more information, see the help topic Showing Role Permission Differences.

Record Permissions for Fixed Assets Management

You can set permissions for a role on the Permissions subtab of the Role record in Setup > Users/Roles >
Manage Roles.

Permissions are divided into four different types on the Transactions, Reports, Lists, Setup, and Custom
Record subtabs.

■ To add a permission, do one of the following:

□ Click a line in the list, select a permission, and then click Insert.
□ Click Add Row at the bottom of the list, select a permission, and then click Add.
■ To remove a permission, select a permission from the list, and then click Remove.
■ To set the level of access for a permission, click a line in the list, and then select the level of access
from the Level column. For information about these access levels, see the help topic Access Levels for
Permissions.
■ For Custom Record permissions, you can select a value in the Restrict column to limit a role's access to
custom records. (Each custom record permission provides access to a custom record type.)
□ Viewing and Editing — Restricts the role to view or edit only the records (of this type) that they or
their subordinates created.

Fixed Assets Management

 Setting Fixed Assets Management Permission Levels 6

□ Editing Only — Restricts the role to edit only the records (of this type) that they or their
subordinates created. They can view all records of this type.
Leave this column blank to enable the role to view and edit all records of this type.

You can use a specialized mass update to add, remove, or change the level of a permission for multiple
roles at the same time, instead of editing each role individually. For more information, see the help topic
Mass Updating a Permission on Custom Roles.

The following table lists the record permissions required to use the Fixed Assets Management features.

Subtab Permission Level Notes

Transactions Make Journal Entry Full Processes such as Depreciation, Revaluation and Disposal
run with client user permissions and need to create
Journals

Transactions Bill View

Transactions Find Transaction Full

Transactions Invoice Full

Custom Record FAM Alternate Depreciation Full

Custom Record FAM Alternate Methods Full

Custom Record FAM Asset Full

Custom Record FAM Asset Proposal Full

Custom Record FAM Asset Reset Data Create

Custom Record FAM Asset Transfer Accounts Full

Custom Record FAM Asset Type Full

Custom Record FAM Asset Usage Full

Custom Record FAM Asset Values Full

Custom Record FAM Default Alt Depreciation Full

Custom Record FAM Depreciation History Full

Custom Record FAM Depreciation Method Full

Custom Record FAM Expense/Income Full

Custom Record FAM Last Proposal Dates Full

Custom Record FAM Lifetimes Full

Custom Record FAM Process Full

Custom Record FAM Proposal Alt Full

Depreciation

Custom Record FAM Repair & Maint Full

Category

Custom Record FAM Repair & Maint Sub A Full

Custom Record FAM Repair & Maint Sub B Full

Fixed Assets Management

 Setting Fixed Assets Management Permission Levels 7

Subtab Permission Level Notes

Custom Record FAM System Setup Full

Custom Record FAM Transaction Field Map Full

Custom Record BG Process Instance Full

Custom Record BG Summary Record Full

Lists Accounts View

Lists Classes View

Lists Currency View

Lists Customers View

Lists Departments View

Lists Documents and Files View

Lists Items View

Lists Locations View

Lists Perform Search View

Lists Projects View

Lists Subsidiaries View

Lists Tax Items Create

Lists Items View

Setup Accounting Book View

Setup Manage Accounting Periods View

Setup Setup Company View

Form Permissions for Fixed Assets Management

On the Role record, click the Forms subtab, and then click Custom Record. Make sure the required Fixed
Assets Management forms are enabled. Check the box in the Enabled column next to the forms you want
to make available to users with this role. The following table lists the form permissions required to use the
Fixed Assets Management features.

Type Name Notes

FAM Alternate Depreciation Standard FAM Alternate Depreciation

Form

FAM Default Alt Depreciation Standard FAM Default Alt

Depreciation Form

FAM Alternate Depreciation Standard FAM Alternate Depreciation

Form

FAM Alternate Methods Standard FAM Alternate Methods

Form

Fixed Assets Management

 Setting Fixed Assets Management Permission Levels 8

Type Name Notes

FAM Asset FAM Asset Form Make preferred form for all roles except
administrators.

FAM Asset Standard FAM Asset Form Only required for Administrators or users who
will import asset records

FAM Asset Proposal FAM Asset Proposal Make preferred form for all roles except
administrators.

FAM Asset Proposal Standard FAM Asset Proposal Form

FAM Asset Transfer Accounts Standard FAM Asset Transfer

Accounts Form

FAM Asset Type Standard FAM Asset Type Form

FAM Asset Usage Standard FAM Asset Usage Form

FAM Asset Values Standard FAM Asset Values Form

FAM Depreciation History Custom FAM Depreciation History Make preferred form for all roles except
Form administrators.

FAM Depreciation History Standard FAM Depreciation History

Form

FAM Depreciation Method FAM Depreciation Method Make preferred form for all roles except
administrators.

FAM Depreciation Method Standard FAM Depreciation Method

Form

FAM Expense/Income Standard FAM Expense/Income Form

FAM Last Proposal Dates Standard FAM Last Proposal Dates

Form

FAM Lifetimes Standard FAM Lifetimes Form

FAM Process Standard FAM Process Form

FAM Proposal Alt Depreciation Standard FAM Proposal Alt

Depreciation Form

FAM Recent Diagnosis Standard FAM Recent Diagnosis This permission enables you to view the FAM
Form Diagnostics portlet.

FAM Repair & Maint Category Standard FAM Repair & Maint
Category Form

FAM Repair & Maint Sub A Standard FAM Repair & Maint Sub A
Form

FAM Repair & Maint Sub B Standard FAM Repair & Maint Sub B
Form

FAM System Setup Standard FAM System Setup Form

FAM Transaction Field Map Standard FAM Transaction Field Map

Form

BG Process Instance Standard BG Process Instance Form

Fixed Assets Management

 Setting Fixed Assets Management Permission Levels 9

Type Name Notes

BG Summary Records Standard BG Summary Records Form

Viewing Script Error Notification Settings for Fixed

Assets Management
The following table lists the default notification setting for each type of FAM script:

FAM Script Type Notification Setting

Client Notify Current User

Suitelet Notify Current User

User Event (UE) Notify Current User

Scheduled Notify All Admins

Bundle Installation Notify All Admins

Note: All FAM scripts are locked. The notification settings cannot be changed.

To view the notification setting for a FAM script:

1. Go to Customization > Scripting > Scripts.
2. On the Scripts page, click View next to the script you want to view the settings for.

Note: You can use the filters at the top of the page to narrow the list on the Scripts page.

3. On the Script page, click the Unhandled Errors subtab. The option selected indicates which
notification is used for script errors:
■ Notify Current User – NetSuite sends email to the logged-in user of the script.
■ Notify All Admins – NetSuite sends email to all users with the Administrator role.

Note: The Notify Script Owner, Notify Group, and Notify Emails settings are currently
not in use.

Fixed Assets Management

 Setting Up the Fixed Assets Management System 10

Setting Up the Fixed Assets Management

System
To use the Fixed Assets Management SuiteApp, complete the Fixed Assets Management System Setup
page.

To set up Fixed Assets Management general preferences:

1. Go to Fixed Assets > Setup > System Setup.

Note: If the system detects that a reset is needed, you can click Reset Asset Values to
start the process. For more information, see Triggering the Asset Reset Process. If you want
to trigger the precompute process, click Precompute Depreciation Values. For more
information, see Generating Depreciation Schedule Values.

2. On the General tab, set your company preferences for the Fixed Assets Management system:

Accounting Period

Post to Next Open Period if AP Check this box to enable posting to the next open period if AP is locked.
is Locked Clear this box to enable posting to the current period even if AP is
locked.

Post to Next Open Period if AR Check this box to enable posting to the next open period if AR is locked.
is Locked Clear this box to enable posting to the current period even if AR is
locked.

Asset

Run Server Scripts Clear this box if you are importing records of mid-life assets.
on CSV Import
Important: Selecting this preference can enable the overriding of
some values from the import file depending on the setting for a CSV import
preference. See Creating Mid-life Assets by Importing CSV Records for the
import guidelines.

Allow Asset Value Check this box to give administrators full permission to edit values in asset records.
Editing
Note: If this box is not checked, asset records cannot be edited. See
Restricting the Editing of Asset Values for a list of fields that cannot be edited.

Allow Negative Check this box to enable administrators (and other roles with permission to edit asset
Asset Cost values) to enter negative values—for original cost, current cost, and residual value—in
asset records.

Fixed Assets Management

 Setting Up the Fixed Assets Management System 11

Asset

Important: To select the Allow Negative Asset Cost preference, you

must first check the Allow Asset Value Editing box. Note that when negative
values are entered in asset records, you cannot clear the Allow Asset Value
Editing or Allow Negative Asset Cost box to disable either preference.
For assets with negative costs, the Fixed Assets Management SuiteApp
currently supports asset depreciation only. Running Depreciation Schedule
Reports for assets with negative costs will return incorrect data.

User Roles Select additional roles from this field to enable other users to edit asset values.

Note: The User Roles list selection is enabled when the Allow Asset Value
Editing box is checked. To select two or more roles, press and hold down the
CTRL key and click each role.

Proposal / Creation

Restrict Ability to Reject Check this box if you want the Reject Proposals button to only be displayed on
Proposals the Asset Proposal page for those with the Administrator role.

Propose Approved Check this box if you want to only propose assets from transactions that have
Transactions Only been approved. Clear this box to enable automatic proposal of assets from
all new transactions posted against the fixed asset general ledger accounts
regardless of transaction status (for example, approved or pending approval).

Use Lease Term as Asset For assets generated from a lease, check this box to set the lease term as the
Life asset life (AL).

Depreciation

Summarize Journals By Choose any of the following options:

■ Parent—Roll up values of sub-assets to parent and create one journal

entry to include parent and child values per period.
■ Sub-Category—Roll up values to sub-category and create one journal
entry per sub-category per period.
■ Asset Type—Roll up values by asset type.

Note: Updating the value for this preference will delete any
existing forecasts. The depreciation scheduled script will automatically
be triggered to create new forecast values. The updated values will be
effective only after each asset’s Last Depreciation Date.

Note: If parent and child values, Repair & Maintenance categories,

and subcategories for an asset are not set up properly, or if the
summarization option for an asset is not defined, the system will
create another journal entry to group all these assets together.
See Summarizing Journal Entries for more information.

Allow Future-dated Check this box to permit depreciation of assets up to a depreciation period
Depreciation date beyond that of the current period. Clear this box to depreciate assets to
the current period only.

Fixed Assets Management

 Setting Up the Fixed Assets Management System 12

Depreciation

Use Accounting Period Check this box to use accounting period dates for the depreciation journal
Dates for Depreciation entry.
This is applicable if you are not using calendar months for the Period Format.
When not enabled, the depreciation will use calendar months.

Use Custom Journals Check this box to use a custom journal entry form for asset depreciation,
revaluation, transfer, and disposal. Note that you also need to enable the
Custom Transactions feature in Setup > Company > Enable Features >
SuiteCloud > SuiteGL.

Note: As of the latest version of Fixed Assets Management, this

feature cannot be used with Multi-book accounting.

Transfer

Post on Location To transfer the entire asset (dispose under old field value and post current values
Change under the new field value) on location change, class change, or department
change, check any of these boxes. Clear these boxes if you want the preferences
Post on Class Change
to only affect future transaction.
Post on Department
Changing the subsidiary will always transfer the asset and generate postings. For
Change
more information, see Asset Transfer Accounts.

Note: No journal entry is created for transfers to a class, department,

or location, if the original transfer value is null.

Disposal

Write-down using Check this box to post write-down amounts to the depreciation account.
Depreciation Account Clear the box to post write-down amounts to the asset account.

Asset Disposal Invoice Form Enter the Internal ID of the preferred Invoice form to be used to create
(internal id) the Sales Invoice record when disposing an asset by Sale. If this field is left
blank, the default preferred form will be used as the Invoice form.

Lease

Allow Lease Check this box to allow changes to be made to leased records with an ‘Asset
Modifications Created’ status.

User Roles Select additional roles from this field to enable other users to modify lease
records.

Note: The User Roles list selection is enabled when the Allow Lease
Modification box is checked. To select two or more roles, press and
hold down the CTRL key and click each role.

3. Click Save.

To set up Fixed Assets Management report preferences:

1. Go to Fixed Assets > Setup > System Setup.

2. On the Reports tab, set the report preferences for the Fixed Assets Management system:

Fixed Assets Management

 Setting Up the Fixed Assets Management System 13

Setting Description

Folder to Use for Reporting Enter the internal ID of the folder in the file cabinet, where reports
(Internal id) are saved.

Note: To display internal IDs, check the Show Internal

IDs box under the General subtab at Home > Set
Preferences.

Allow Administrators to View All Check this box to enable administrators to view reports generated
Reports by other users.

Preferred Asset Register Template Select the preferred report template for Asset Register. Leave this
blank to use the default report template.

Note: The list shows only the report templates with the
FAM_AR_ prefix.

Preferred Asset Summary Template Select the preferred report template for Asset Summary. Leave this
blank to use the default report template.

Note: The list shows only the report templates with the
FAM_AS_ prefix.

Preferred Depreciation Schedule Select the preferred report template for Depreciation Schedule
NBV Template NBV. Leave this blank to use the default report template.

Note: The list shows only the report templates with the
FAM_DS_ prefix.

Preferred Depreciation Schedule PD Select the preferred report template for Depreciation Schedule PD.
Template Leave this blank to use the default report template.

Note: The list shows only the report templates with the
FAM_DS_ prefix.

Preferred Depreciation Monthly Select the preferred report template for Depreciation Monthly. Leave
Template this blank to use the default report template.

Note: The list shows only the report templates with the
FAM_DM_ prefix.

Preferred Asset Listing Template Select the preferred report template for Asset Listing. Leave this
blank to use the default report template.

Note: The list shows only the report templates with the
FAM_AL_ prefix.

3. Click Save.

To set up Fixed Assets Management country specific preferences:

1. Go to Fixed Assets > Setup > System Setup.

Fixed Assets Management

 Summarizing Journal Entries 14

2. On the Country Specific tab, under the Japan section, set the rounding method to use for Japan
currency amounts with decimal values. By default, this preference is set to blank and uses the
round off method.
■ Round Off - This option rounds down the decimal number to zero if the value is 0.499 or less
and rounds up decimal numbers to one if the value is 0.5 or more.
■ Round Down - This option rounds down the decimal number to zero.
■ Round Up - This option rounds up the decimal number to one.
The rounding method you select will be applied to both annual and monthly depreciation
amounts.
For multicurrency accounts, this setting applies to assets using the Japanese currency. For non-
multicurrency accounts, this setting applies to all assets if the Currency Locale field is Japan
(Japanese).

Note: Changing this preference will reset all pre-computed depreciation history
records in JPY currency.

3. Click Save.

To schedule a diagnostic scan:

You can schedule a scan for each of the processes on the FAM Diagnostic portlet. The system will
automatically scan each process based on the schedule that you set.

1. Go to Fixed Assets > Setup > System Setup.

2. On the Diagnostics tab, set the schedule for when you want to run a scan for each of the
processes.
■ Daily — Runs a scan at 3:00 AM everyday.
■ Weekly — Runs a scan at 3:00 AM every Wednesday.
■ Monthly — Runs a scan at 3:00 AM every 2nd day of the month.
The default schedule of each process is as follows:
■ Precompute Depreciation Values: Weekly
■ Reset Asset Values: Daily
■ Check Missing Summaries: Weekly
3. Click Save.

After completing the Fixed Assets Management System Setup page, perform additional setup tasks:

■ Setting up general ledger accounts to be included in Fixed Assets Management — General Ledger
Accounts for Fixed Assets Management
■ Setting up asset transfer accounts — Asset Transfer Accounts
■ Assigning depreciation method to an asset — Depreciation Methods
■ Setting up alternate methods — Alternate Methods (Tax Depreciation Methods)
■ Defining asset types — Asset Types
■ Migrating fixed asset data from your previous system — Creating Mid-life Assets by Importing CSV
Records

Summarizing Journal Entries

The Summarize Journals feature intends to improve the asset depreciation performance by speeding up
the journal writing process. You can summarize journal entries based on the following options:

Fixed Assets Management

 Summarizing Journal Entries 15

■ Parent – Roll up values of sub-assets to parent and create one journal entry to include parent and
child values per period.
■ Sub-Category – Roll up values to sub-category and create one journal entry per sub-category per
period.
■ Asset Type – Roll up values by asset type.

If parent and child values or Repair & Maintenance Categories and Subcategories for an asset are not
set up properly, or if the summarization option for an asset is not defined, the system will create another
journal entry to group all these assets together.

Important: Summarizing Journal Entries by ‘None’ is no longer supported in FAM 3.0. Any
record that used this option in previous versions of the SuiteApp will be set to ‘Asset Type’ when
the bundle is updated.

Summary Record
The summary record totals the depreciation amount and is stored in the journal entry information. The
option you select for summarizing journal entries defines the category for the asset in the summary
record.
Each journal entry can contain up to 250 summary records. If there are more than 250 summary records
in total, another journal entry will be created to accommodate the rest of the summary records.

Depreciation Posting Reference

In previous versions, journal entries are sourced from the depreciation history record, and a link to
the journal entry is stored in the Posting Reference field. Starting with FAM 3.0, journal entries will be
generated using the summary record and the journal entry information will be stored in the Depreciation
Posting Reference field on the Depreciation History Record.
To maximize compatibility, existing depreciation histories will still store the journal entries in the Posting
Reference field.

Note: The system searches for depreciation history records (DHR) that will be recorded in the
next open period. If the current period is December, for example, the system retrieves the DHRs
for December and from prior period depreciation which are already closed. These DHRs will be
written in journal entries in no particular order.

Important: When you run depreciation after upgrading to FAM 3.0, the SuiteApp will start
using the Depreciation Posting Reference field to store the depreciation journal entry.

Updating the Fixed Assets Management Bundle

To lessen errors when updating to the new bundle, make sure you run a successful depreciation before
migrating to the new system.
If you still encounter errors during the update, you will receive an e-mail notification to inform you what
caused the error. In this case, you must manually correct the error, and then retrigger the migration
script.

To manually run the migration script:

1. Go to Customization > Scripting > Scripts.
2. Find the script, FAM Write Summary Record SS (Migrate), and then click Deployments.
3. Click Edit to open the Edit Script Deployment Page.

Fixed Assets Management

 Summarizing Journal Entries 16

4. From the Save options, select Save & Execute.

Managing Fixed Assets Scripts

Fixed Assets Management transactions triggers scripts in the background. These scripts require a
SuiteCloud processor to run. If no processor is available to run the script, the script will be queued until a
processor becomes available.
Scripts are processed according to their order in the queue (first in, first out) and their priority level
(highest to lowest priority).

Changing the Scheduled Script Runtime

Fixed Assets Management system runs scripts based on a regular schedule. You can change the schedule
on some of these scripts if you want the system to run them more frequently.

To change the scheduled script runtime:

1. Go to Customization > Scripting > Scripts.
2. On the Scripts page, click the Deployment link for the script you want to update:
■ FAM Trigger Pre-Compute SS — This script is set to run every Sunday, by default. Select this
script to update the runtime for generating a depreciation schedule.
On the Script Deployments page, click Edit next to customdeploy_fam_triggerprecompute_ss
■ FAM Trigger Reset Process (Scheduled) SS — This script is set to run daily, by default. Select
this script to update the runtime for the reset asset process.
On the Script Deployments page, click Edit next to customdeploy_fam_triggerresetsched_ss.
3. On the Schedule subtab, check the day of the week when you want the script to run, and select a
start time.
4. Click Save. Click Save and Execute to save the changes and run the script.

Note: The scripts process only the asset records that require a reset or a depreciation
schedule.

Prioritizing Fixed Assets Management Scripts

Fixed Assets Management transactions and report generation processes are controlled by scheduled
scripts and process records. The system uses a process management engine to control the scripts for
a given process and to ensure the proper order of script execution. The engine uses a method where
the scripts in a process are executed in a sequence. Other scripts, unrelated to a FAM process, may
run in between the script sequence and interfere with the bundle's process execution. To ensure that
FAM transaction processes are executed properly, you can set a higher priority level for FAM script
deployments.

Note: FAM scripts, by default, have a Standard Priority level.

Prerequisites
■ The Priority on the following script deployments must be set to High:
□ FAM Trigger Process SS (customdeploy_fam_triggerprocess_ss)
□ FAM Process Manager SS (customdeploy_fam_processmanager_ss)

Fixed Assets Management

 Managing Fixed Assets Scripts 17

■ The scheduled script that manages the process must be prioritized as well. For more information, see
Background Processing of Fixed Assets.

To set a priority for FAM scripts:

Important: The bundle update preference for most FAM scripts are set to Update
Deployments. When the Fixed Assets Management SuiteApp is updated, the script priority that
you set will be updated to the value in the source account. This issue is currently being addressed,
and will be fixed in an upcoming release. Until the issue is resolved, you must prioritize the FAM
scripts again after the SuiteApp is updated.

1. Go to Customization > Scripting > Script Deployment, and then click edit next to the record that you
want to modify.
2. On the Script Deployment record, set the Priority field to High.
3. Click Save.
Repeat steps 1–3 for all scripts in the process that you want to prioritize. For more information, see
List of Scripts in a FAM Process.

List of Scripts in a FAM Process

FAM Process or Report Script Record (Script Deployment ID)

Asset Proposal ■ FAM Propose Asset SS (customdeploy_fam_proposeasset_ss)

Asset Proposal Split ■ FAM Proposal Split MR (customdeploy_fam_mr_proposalsplit)

■ FAM Post Process Script (customdeploy_fam_mr_postprocess)

Asset Creation ■ FAM Propose Asset SS (customdeploy_fam_proposeasset_ss)

■ FAM Asset Generation MR (customdeploy_fam_generateasset_mr)

Asset Generation ■ FAM Asset Generation MR (customdeploy_fam_generateasset_mr)

Asset Depreciation ■ FAM Precalc MR (customdeploy_fam_precalc_mr)

■ FAM Create Journal MR (customdeploy_fam_createjournal_mr)
■ FAM Post Depreciation Mapping (customdeploy_fam_postdepr_mapdhr_mr)
■ FAM Post Depreciation Update Asset Values
(customdeploy_fam_postdepr_updateasset_mr)
■ FAM Post Depreciation Update No Book
(customdeploy_fam_postdepr_nobook_mr)
■ FAM Update Compound Assets - PreCalc
MR (customdeploy_fam_updcomass_mr)
■ FAM Post Process Script (customdeploy_fam_mr_postprocess)

Asset Disposal ■ FAM Dispose Asset MR (customdeploy_fam_disposeasset_mr)

■ FAM Post Process Script (customdeploy_fam_mr_postprocess)
■ FAM Delete Old Forecasts MR (customdeploy_fam_deleteoldforecast_mr)
■ FAM Update Compound Assets - PreCalc
MR (customdeploy_fam_updcomass_mr)

Asset Revaluation ■ FAM Revalue Asset MR (customdeploy_fam_revalueasset_mr)

■ FAM Post Process Script (customdeploy_fam_mr_postprocess)
■ FAM Delete Old Forecasts MR (customdeploy_fam_deleteoldforecast_mr)

Fixed Assets Management

 Managing Fixed Assets Scripts 18

FAM Process or Report Script Record (Script Deployment ID)

■ FAM Update Compound Assets - PreCalc
MR (customdeploy_fam_updcomass_mr)

Asset Split ■ FAM Split MR (customdeploy_fam_split_mr)

■ FAM Delete Old Forecasts MR (customdeploy_fam_deleteoldforecast_mr)

Asset Transfer ■ FAM Transfer Validate Assets MR (customdeploy_fam_transfer_validate_mr)

■ FAM Precalc MR (customdeploy_fam_precalc_mr)
■ FAM Create Journal MR (customdeploy_fam_createjournal_mr)
■ FAM Post Depreciation Mapping (customdeploy_fam_postdepr_mapdhr_mr)
■ FAM Post Depreciation Update Asset Values
(customdeploy_fam_postdepr_updateasset_mr)
■ FAM Post Depreciation Update No Book
(customdeploy_fam_postdepr_nobook_mr)
■ FAM Transfer Asset MR (customdeploy_fam_transferasset_mr)
■ FAM Post Process Script (customdeploy_fam_mr_postprocess)
■ FAM Update Compound Assets - PreCalc
MR (customdeploy_fam_updcomass_mr)
■ FAM Delete Old Forecasts MR (customdeploy_fam_deleteoldforecast_mr)

CSV Asset Transfer ■ FAM Transfer Asset CSV SS (customdeploy_fam_transferassetscsv_ss)

■ FAM Transfer Validate Assets MR (customdeploy_fam_transfer_validate_mr)
■ FAM Precalc MR (customdeploy_fam_precalc_mr)
■ FAM Create Journal MR (customdeploy_fam_createjournal_mr)
■ FAM Post Depreciation Mapping (customdeploy_fam_postdepr_mapdhr_mr)
■ FAM Post Depreciation Update Asset Values
(customdeploy_fam_postdepr_updateasset_mr)
■ FAM Post Depreciation Update No Book
(customdeploy_fam_postdepr_nobook_mr)
■ FAM Transfer Asset MR (customdeploy_fam_transferasset_mr)
■ FAM Post Process Script (customdeploy_fam_mr_postprocess)
■ FAM Update Compound Assets - PreCalc
MR (customdeploy_fam_updcomass_mr)
■ FAM Delete Old Forecasts MR (customdeploy_fam_deleteoldforecast_mr)

Reset Asset Values ■ FAM Convert Asset IDs Asset Reset Data
(customdeploy_fam_convertassetids_mr)
■ FAM Reset Asset Values MR (customdeploy_fam_resetassetvals_mr)
■ FAM Delete Old Forecasts MR (customdeploy_fam_deleteoldforecast_mr)

Asset Register Report ■ FAM Search Asset Register Report Data SS

(customdeploy_fam_searchregreportdata_ss)
■ FAM Search Asset Register Report SZV SS
(customdeploy_fam_searchregreportszv_ss)
■ FAM Render Asset Register Report SS (customdeploy_fam_renderregreport_ss)

Asset Summary Report ■ FAM Search Asset Register Report Data SS

(customdeploy_fam_searchregreportdata_ss)
■ FAM Search Asset Register Report SZV SS
(customdeploy_fam_searchregreportszv_ss)

Fixed Assets Management

 Managing Fixed Assets Scripts 19

FAM Process or Report Script Record (Script Deployment ID)

■ FAM Render Asset Summary Report SS
(customdeploy_fam_rendersummreport_ss)

Depreciation Schedule Net Book ■ FAM Precalc MR (customdeploy_fam_precalc_mr)

Value Report
■ FAM Generate Depr Sched Report MR
(customdeploy_fam_generatedeprsched_mr)

Depreciation Schedule Period ■ FAM Precalc MR (customdeploy_fam_precalc_mr)

Depreciation Report
■ FAM Generate Depr Sched Report MR
(customdeploy_fam_generatedeprsched_mr)

Depreciation Monthly Report ■ FAM Generate Depr Monthly Report

MR (customdeploy_fam_generatedeprmonth_mr)
■ FAM Render Depr Monthly Report SS (customdeploy_fam_renderdeprmonth_ss)

Asset Listing Report ■ FAM Search Asset Register Report Data SS

(customdeploy_fam_searchregreportdata_ss)
■ FAM Search Asset Register Report SZV SS
(customdeploy_fam_searchregreportszv_ss)
■ FAM Render Asset Register Report SS (customdeploy_fam_renderregreport_ss)

Custom Segments and Custom Fields in Fixed

Assets Management Records and Transactions
The Fixed Assets Management SuiteApp lets you extend the custom segments functionality to your fixed
assets records. This feature will make your custom segments available in the following records:

■ Asset proposal record

■ Asset record
■ Acquisition depreciation history record
■ Depreciation journal entries
■ Transfer depreciation history record and associated journal entries
■ Revaluation history record and associated journal entries
■ Disposal history record and associated journal entries and invoices

To take advantage of this feature, you must enable the Custom Segments feature (see the help topic
Enabling the Custom Segments Feature). You must also apply the custom segment to the FAM record
where you want it to appear. For more information, see the help topic Applying a Custom Segment to
Record Types.

In FAM journals, the custom segment is shown on the main body or the line item, depending on how
you mapped the fields. You can also choose to show the custom segments in fixed assets reports by
customizing the XML report template. For more information, see Customizing the Asset Report Template.

Note: The ability to filter FAM reports by custom segments is currently not available.

Read the following topics for more information:

■ Applying Custom Segments to Fixed Asset Management Records and Transactions

Fixed Assets Management

 Custom Segments and Custom Fields in Fixed Assets Management Records and Transactions 20

■ Mapping Custom Segments and Custom Fields to Fixed Assets Management Records

Applying Custom Segments to Fixed Asset Management

Records and Transactions
To apply custom segments to FAM records and transactions:
1. Create or edit a custom segment. For more information, see the help topics Creating a Custom
Segment and Editing Custom Segments.
2. Apply the custom segment to your preferred transactions and to the following FAM records and
transactions. For more information, see the help topic Applying a Custom Segment to Record
Types.
■ In the Application & Sourcing subtab, go to Custom Record Types, and specify the source list
for the following FAM records:

Record Type Source List

FAM Asset

FAM Asset Proposal Source Transaction (Transaction)

FAM Depreciation History Asset (FAM Asset)

Note: You cannot set the Source List if the custom segment is of the Multiple Select
type.

■ In the Application & Sourcing subtab, go to the corresponding subtab to select the following:
Select the following transactions only if the Custom Transactions feature is enabled in your
account. If you select these transactions when the feature is disabled, your selections will not
be saved. To enable Custom Transactions, see the help topic Enabling the Custom Transactions
Feature.

Subtab Transaction

Transactions Fixed Asset Depreciation Entry

Transactions Fixed Asset Disposal Entry

Transactions Fixed Asset Revaluation Entry

Transactions Fixed Asset Transfer Entry

Select the following transactions if the Custom Transactions feature is disabled in your account.
If the feature is enabled, the system will disregard Journal Entry if it is selected.

Subtab Transaction Notes

Transactions Sales Transactions For disposal invoice

Transactions Journal Entry For all journals

Transaction Columns Sale Item For invoice column or line field

Transaction Columns Journal Entry For journal column or line field

3. Click Save.
Take note of the field IDs for Transactions, Transaction Columns, and Custom Record Types. To
find the Field ID, open the Custom Segment record, click Application & Sourcing > Transactions,
Transaction Columns, or Custom Record Types.

Fixed Assets Management

 Custom Segments and Custom Fields in Fixed Assets Management Records and Transactions 21

Mapping Custom Segments and Custom Fields to Fixed

Assets Management Records
You can map custom segments and custom fields in a transaction to your fixed assets management
records. Mapping these fields ensures that the value from the originating transaction is accurately copied
to your FAM records.

A custom segment or custom field in a transaction must have a corresponding field in your FAM records.
For more information, see the help topics Creating a Custom Field and Creating a Custom Segment.

Note: You cannot change the field mapping through inline editing.

To map custom segments and custom fields to FAM records:

1. Go to Fixed Assets > Setup > Transaction Field Map > New.
2. In the FAM Transaction Field Map page, specify values for the following fields:
■ If you are mapping custom segments:
□ Source Transaction Field ID – Enter the Transaction or Transaction Column Field ID of the
custom segment that you want to map to your FAM records.
If you are mapping a custom segment on a transaction line, you must add a ‘line’ prefix to
the field ID. For example, line.cseg_field.
□ Proposal Field ID – Enter the Field ID of the FAM Asset Proposal record type.
□ Asset Field ID – Enter the Field ID of the of the FAM Asset record type.
□ Transaction Field ID – Enter the Transaction or Transaction Column Field ID of the custom
segment that you created in the transaction record. This field will appear in both FAM
journals and disposal invoices.

Note: To show the custom segment on the transaction line item, enter the Field ID
of the Transaction Column and check the Transaction Line Field box.

□ Transaction Line Field – Check this box if the custom segment is added to the line item on
the journal or disposal invoice.

Note: To find the field ID, open the Custom Segment record, and then click
Application & Sourcing. Depending on the type of custom segment that you are
mapping, go to Transactions, Transaction Columns, or Custom Record Types.

■ If you are mapping custom transaction fields:

□ Source Transaction Field ID – Enter the internal ID of the custom field you created in the
transaction record.
□ Proposal Field ID – Enter the internal ID of the custom transaction field you created in the
proposal record.
□ Asset Field ID – Enter the internal ID of the custom transaction field you created in the asset
record.

Note: To find the internal ID of a specific field, see the help topic How do I find a field's
internal ID?.

To properly map custom fields and custom segments to FAM records, you must provide values
for at least 2 adjacent fields. If you want to map a custom field or custom segment to the asset

Fixed Assets Management

 Custom Segments and Custom Fields in Fixed Assets Management Records and Transactions 22

record, for example, you need to provide values for Source Transaction Field ID and Proposal
Field ID. If you also want to make the field available in the asset record, you must add a value in
the Asset Field ID. You cannot, however, map the Source Transaction Field ID directly to the Asset
Field ID. You must always use adjacent fields to map your custom segments and custom fields to
FAM records.
3. Click Save.

Setting Up and Using FAM Diagnostics

The FAM Diagnostics portlet shows the health of your FAM bundle, from your dashboard. FAM
Diagnostics displays the processes that require action, what to do to correct it, when it was last corrected
and by whom. You can also scan the processes to see if there is anything that needs to be remedied. The
following processes are available in FAM Diagnostics:

■ Precompute Depreciation Values

■ Reset Asset Values
■ Check Missing Summary

Note: FAM Diagnostics is available to the Administrator and Fixed Assets Manager roles by
default.

To set up and use FAM Diagnostics

1. Add the FAM Diagnostics portlet to your dashboard:
a. From the NetSuite Home page, go to Personalize > SuiteApps.
b. Click FAM Diagnostics or drag and drop it to your dashboard.
2. Click Run Scan to display information about the processes that require action from you. The
recommended action will be displayed as a link.

Note: The date format on the FAM Diagnostics portlet follows the settings defined in the
User Preferences page.

3. Click the link under the Action column to start fixing the problem.

You must manually refresh the portlet to display updated information. You can click Run Scan again to
manually check if there are problems with any of the processes. Doing so, however, will clear the Last
Remedied On and Last Remedied By information. You can also schedule a scan for each process. For
more information, see To schedule a diagnostic scan:.

Fixed Assets Management

 General Ledger Accounts for Fixed Assets Management 23

General Ledger Accounts for Fixed Assets

Management
The Fixed Assets Management SuiteApp provides predefined general ledger accounts for fixed assets, but
you can set up your existing general ledger accounts to be used with the SuiteApp.

Predefined Accounts in Fixed Assets Management

Upon installation of the NetSuite Fixed Assets Management bundle, the following accounts are already
defined:

FAM Account Field Account Types

(for Assets, Asset Types, and Asset Proposals)

Asset Account Fixed Asset

Depreciation Account Fixed Asset

Depreciation Charge Account Deferred Expense, Expense, Other Expense

Write Off Account Fixed Asset, Deferred Expense, Expense, Other

Expense

Write Down Account Fixed Asset, Deferred Expense, Expense, Other

Expense

Disposal Cost Account Expense, Income, Other Expense, Other Income

Setting Up General Ledger Accounts to be Included in

Fixed Assets Management
If you have existing general ledger accounts that you want to use in the Fixed Assets Management
SuiteApp, you can edit your accounts to make them available for selection on Assets, Asset Types, and
Asset Proposals.

To set up general ledger accounts to be included in Fixed Assets Management:

1. Go to Lists > Accounting > Accounts.
2. Click the Edit link of the account that you want to set up.
3. In the Show in Fixed Assets Management field, select the Fixed Assets Management accounts. To
select multiple accounts, hold down the CTRL key and click on the accounts.
■ Asset Account
■ Depreciation Account
■ Depreciation Charge Account
■ Write Off Account
■ Write Down Account
■ Disposal Cost Account
4. Click Save.

Fixed Assets Management

 General Ledger Accounts for Fixed Assets Management 24

To verify successful account definition in Asset Type and Asset records:

1. Go to Fixed Assets > Setup > Asset Types > New.
2. On the Accounts subtab, verify that the account you defined is available in the dropdown menu of
the following fields (if applicable to the account you defined):
■ Asset Type Asset Account
■ Asset Type Depreciation Account
■ Asset Type Depreciation Charge Account
■ Asset Type Write Off Account
■ Asset Type Write Down Account
■ Asset Type Disposal Cost Account
3. Go to Fixed Assets > Lists > Assets > New.
4. On the Accounts subtab, verify that the account you defined is available in the dropdown menu of
the following fields (if applicable to the account you defined):
■ Asset Account
■ Depreciation Account
■ Depreciation Charge Account
■ Write Off Account
■ Write Down Account
■ Disposal Cost Account

Fixed Assets Management

 Asset Transfer Accounts 25

Asset Transfer Accounts

The Fixed Assets Management SuiteApp supports multiple subsidiaries and lets you transfer assets
between subsidiaries.

To support this intercompany functionality, intercompany accounts are defined within the Asset Transfer
page. For each subsidiary relationship where asset transfer is required, you must set up transfer accounts
for the origin and destination subsidiaries.

In an asset record, when the subsidiary is changed, the system will journal the asset and its accumulated
depreciation out of the balance sheet and into the origin transfer account. In the destination subsidiary,
the value of the asset is posted into the asset account from the destination transfer account. Previous
depreciation amounts are not transferred into the destination subsidiaries ledger.

To set up an asset transfer account:

1. Go to Fixed Assets > Setup > Asset Transfer Accounts > New.
2. Enter values for the following fields:
■ Origin Subsidiary — Select the originating subsidiary for this intercompany relationship.
■ Destination Subsidiary — Select the destination subsidiary for this intercompany relationship.
■ Origin Transfer Account — Select the transfer (GL) account for the originating subsidiary of
this intercompany relationship.
■ Destination Transfer Account — Select the transfer (GL) account for the destination
subsidiary of this intercompany relationship.
3. Click Save.

Fixed Assets Management

 Depreciation Methods 26

Depreciation Methods
In the Fixed Assets Management SuiteApp, each asset must be assigned a depreciation method so that
NetSuite can calculate the asset's depreciation. Depreciation methods can be linked, which means that
an asset can depreciate using one method for the first part of its lifetime, and then switch to a different
method for the remaining lifetime.
The Fixed Assets Management SuiteApp enables you to maintain separate book depreciation and tax
depreciation calculations. Book (accounting) depreciation of fixed assets is linked to journal postings and
transactions in NetSuite. You can use any of the preconfigured depreciation methods or create a new
depreciation method.
For more information, read the following topics:

■ Preconfigured Depreciation Methods

■ Creating a New Depreciation Method
■ Depreciation Formula

For information about creating and using tax depreciation methods, see Alternate Methods (Tax
Depreciation Methods).

Preconfigured Depreciation Methods

Some of the most widely used standard depreciation methods are automatically set up upon installation
of the Fixed Assets Management SuiteApp.
To see the preconfigured depreciation methods, go to Fixed Assets > Setup > Depreciation Methods. The
Depreciation Method List shows the depreciation method name, description, and formula. The following
depreciation methods are available:

■ 150DB
■ 200DB
■ 250DB
■ 25% Reducing Balance
■ 4–4–5 Calendar Depreciation
■ Asset Usage
■ Capital Allowance Year 1
■ Capital Allowance Year N
■ Fixed Declining
■ Straight Line
■ Straight Line Remaining
■ Sum of Years/Straight Line
■ Sum of Years Digits
■ Tax Diminishing Method
■ Zero Depreciation

The following depreciation methods, specific for Nordic countries and Benelux, are also available:

■ 30% Declining Balance

■ 25% Declining Balance
■ 24% Declining Balance

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 Preconfigured Depreciation Methods 27

■ 20% Declining Balance to 12% Declining Balance

■ 20% Declining Balance
■ 15% Declining Balance
■ 14% Declining Balance
■ 12% Declining Balance
■ 10% Declining Balance
■ 6% Declining Balance
■ 4% Declining Balance
■ 2% Declining Balance

The following depreciation methods, specific for Japan, are also available:

■ Japan Straight Line

■ Japan 250% Declining Balance
■ Japan 200% Declining Balance

Note: For Japan depreciation methods, to ensure depreciation amount is computed correctly,
you must edit your asset record to set the Residual Value to 1 JPY. For depreciation computation,
the residual value is deducted from the last year’s depreciation amount.

Note: You can use annual depreciation methods, like 150DB and 200DB, to generate
depreciation journal entries. For example, you can create asset types that use 150DB and 200DB
as the default accounting method, which will be carried over when an asset is created.

Some of these methods are described in more in the following topics.

Asset Usage (Asset Activity) Depreciation

Usage-based depreciation methods are not based on time, but on a level of activity. This could be miles
driven for a vehicle, or a cycle count for a machine. When the asset is acquired, its life is estimated in
terms of this level of activity. Assume a vehicle is estimated to go 50,000 miles in its lifetime. The per-mile
depreciation rate is calculated as:
($17,000 cost - $2,000 salvage value) / 50,000 miles = $0.30 per mile
Each period, the depreciation expense is then calculated by multiplying the rate by the actual activity level.
Calculating Units-of-Activity Depletion:

■ Depreciable Cost divided by Units in Useful Life = Per Unit Depreciation

■ Per-Unit Depreciation x Units During Period = Period Depreciation Expense

If a truck with a depreciable cost of $80,000 ($90,000 cost, less $10,000 estimated salvage value) is
expected to be driven 400,000 miles during its service life, the truck depreciates $0.20 each mile ($80,000
÷ 400,000 miles = $0.20 per mile). The following table shows how depreciation expense is assigned to the
truck based on the number of miles driven each year.

Cost $90,000

Year 1 110,000 × $0.20 = $22,000 $22,000 68,000

Year 2 70,000 × 0.20 = 14,000 36,000 54,000

Year 3 90,000 × 0.20 = 18,000 54,000 36,000

Year 4 80,000 × 0.20 = 16,000 70,000 20,000

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 Preconfigured Depreciation Methods 28

Year 5 50,000 × 0.20 = 10,000 80,000 10,000

Fixed Declining (Declining Balance) Depreciation

Depreciation methods that provide for a higher depreciation charge in the first year of an asset's life and
gradually decreasing charges in subsequent years are called accelerated depreciation methods. This may
be a more realistic reflection of an asset's actual expected benefit from the use of the asset. Many assets
are most useful when they are new. One popular accelerated method is the fixed declining method .
For example, a business has an asset with $1,000 original cost, $100 salvage value, and five years (60
months) of useful life. The following table illustrates the fixed declining method of depreciation. Book
Value at the beginning of the first year of depreciation is the Original Cost of the asset. At any time Book
Value equals Original Cost minus Accumulated Depreciation.
Book Value = Original Cost - Accumulated Depreciation
The asset is depreciated until the Book Value equals Salvage Value, or Scrap Value.

Book Value Depreciation Expense Cumulative Depreciation Period

$1,000.00 0 0 0

$962.35 $37.65 $37.65 1

$926.12 $36.23 $73.88 2

$891.25 $34.87 $108.75 3

$857.69 $33.56 $142.31 4

$825.40 $32.29 $174.60 5

Straight Line Depreciation

Straight-line depreciation is the simplest and most often used technique. In straight-line depreciation, the
company estimates the salvage value of the asset at the end of its useful life (the period during which it is
used to generate revenues), and will expense a portion of the original cost in equal increments over that
period. The residual value, also known as scrap value, is an estimate of the value of the asset at the time it
will be sold or disposed of. The residual value may be zero.
Annual Depreciation Expense = (Cost of Fixed Asset - Scrap Value) divided by Life span
For example, a vehicle that depreciates over five years, is purchased at a cost of US$17,000, with a
residual value of US$2000, will depreciate at US$3,000 per year: ($17,000 - $2,000) / 5 years = $3,000 or
($17,000 - $2,000) / 60 months = $250. In other words, it is the depreciable cost of the asset divided by
the number of years or number of months of its useful life.

Book Value - Beginning of Depreciation Expense Accumulated Depreciation Book Value - End of
Year Year

$17,000 (Original Cost) $3,000 $3,000 $14,000

$14,000 $3,000 $6,000 $11,000

$11,000 $3,000 $9,000 $8,000

$8,000 $3,000 $12,000 $5,000

$5,000 $3,000 $15,000 $2,000 (Scrap Value)

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 Preconfigured Depreciation Methods 29

Sum of Years' Digits Depreciation

Sum-of-Years' Digits is a depreciation method that results in a more accelerated write-off than straight
line, but less than declining-balance method. Under this method, annual depreciation is determined by
multiplying the depreciable cost by a schedule of fractions.

■ Depreciable Cost = Original Cost - Salvage Value

■ Book Value = Original Cost - Accumulated Depreciation

Example: If an asset has original cost $1,000, a useful life of five years and a salvage value of $100, to
calculate its depreciation schedule:

1. Determine Years' digits. Because the asset has a useful life of five years, the Years' digits are: 5, 4,
3, 2, and 1.
2. Calculate the sum of the digits. 5+4+3+2+1=15
Depreciation rates are as follows:
■ 5/15 for the 1st year
■ 4/15 for the 2nd year
■ 3/15 for the 3rd year
■ 2/15 for the 4th year
■ 1/15 for the 5th year

Book Value - Total Depreciable Depreciation Rate Depreciation Accumulated Book Value
Beg. of Year Cost Expense Depreciation - End of
Year

$1,000 $900 5/15 $300 ($900 * 5/15) $300 $700

(Original Cost)

$700 $900 4/15 $240 ($900 * 4/15) $540 $460

$460 $900 3/15 $180 ($900 * 3/15) $720 $280

$280 $900 2/15 $120 ($900 * 2/15) $840 $160

$160 $900 1/15 $60 ($900 * 1/15) $900 $100 (Scrap

Value)

Straight Line Remaining

This method is similar to the standard Straight Line method but will depreciate the asset from the value
at the start of the method rather than the original cost. This method would be typically used as a linked
method following another method.

Sum of Years/Straight Line

This method depreciates the asset using the Sum of Years' Digits method for the first year before
switching to use Straight Line depreciation for the rest of the depreciation lifetime.

150DB and 200DB

These are standard Modified Accelerated Cost Recovery System (MACRS) methods as defined for US Tax
purposes.

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 Preconfigured Depreciation Methods 30

These two methods consist of two calculations where the highest value is selected. The net effect is that
for the first part of the asset life it will depreciate faster. Partway through the asset life, approximately a
third in the case of 150DB, the second method will take over, and the depreciation will go from a curve to
finish as a straight line method.

The formula for the 150DB method is:

((NB-RV)*(1.5/AL))~((NB-RV)/(AL-CP+1))

200DB is the same basic formula but will depreciate faster before switching to straight line:

((NB-RV)*(2/AL))~((NB-RV)/(AL-CP+1))

4–4–5 Calendar Depreciation

The 4-4-5 Calendar Depreciation method computes depreciation on a daily basis. When you enable
the Use Accounting Period Dates for Depreciation preference in the Fixed Assets Setup page, the
generated depreciation history record and journal entry will use the end date of the base period.

Formula: 12*((CC-RV)/AL)*(DP/FY)

DP/FY is a pro-rated calculation which is based on the number of days in a period. In a 4–4–5 calendar,
this is equivalent to 28 days for 4 weeks, 35 days for 5 weeks, and 36 days for the last period of the year.

Note: When using the 4–4–5 calendar depreciation method, make sure the asset’s depreciation
rule is not set to pro-rata. Using the pro-rata depreciation rule, the system will compute the
depreciation amount based on a 30–day month. In a 4–4–5 calendar, the difference in the
estimated days and the real length of the period alters the depreciation amount.

Period Start Date End Date DP YTD No. of Days

1 1/1/2015 1/28/2015 28 28

2 1/29/2015 2/25/2015 28 56

3 2/26/2015 4/1/2015 35 91

4 4/2/2015 4/29/2015 28 119

5 4/30/2015 5/27/2015 28 147

6 5/28/2015 7/1/2015 35 182

7 7/2/2015 7/29/2015 28 210

8 7/30/2015 8/26/2015 28 238

9 8/27/2015 9/30/2015 35 273

10 10/1/2015 10/28/2015 28 301

11 10/29/2015 11/25/2015 28 329

12 11/26/2015 12/31/2015 36 365

If you have an asset with a cost of 60,000, to be depreciated in 24 months, the following table shows the
depreciation using the formula 12*((CC-RV)/AL)*(DP/FY). Note that FY is equivalent to 365.

Transaction Type Date Transaction Amount Computation Net Book Value

Depreciation 12/31/2018 2,958.90 12((60000–0)/24)*(36/365) 30,000.01

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 Preconfigured Depreciation Methods 31

Transaction Type Date Transaction Amount Computation Net Book Value

Depreciation 11/25/2018 2,301.37 12((60000–0)/24)*(28/365) 32,958.91

Depreciation 10/28/2018 2,301.37 12((60000–0)/24)*(28/365) 35,260.28

Depreciation 9/30/2018 2,876.71 12((60000–0)/24)*(35/365) 37,561.65

Depreciation 8/26/2018 2,301.37 12((60000–0)/24)*(28/365) 40,438.36

Depreciation 7/29/2018 2,301.37 12((60000–0)/24)*(28/365) 42,739.73

Depreciation 7/1/2018 2,876.71 12((60000–0)/24)*(35/365) 45,041.10

Depreciation 5/27/2018 2,301.37 12((60000–0)/24)*(28/365) 47,917.81

Depreciation 4/29/2018 2,301.37 12((60000–0)/24)*(28/365) 50,219.18

Depreciation 4/1/2018 2,876.71 12((60000–0)/24)*(35/365) 52,520.55

Depreciation 2/25/2018 2,301.37 12((60000–0)/24)*(28/365) 55,397.26

Depreciation 1/28/2018 2,301.37 12((60000–0)/24)*(28/365) 57,698.63

Acquisition 1/1/2018 60,000.00 12((60000–0)/24)*(28/365) 60,000.00

When your accounting period is set to Calendar Months, using the 4-4-5 Calendar Depreciation method
will compute the monthly depreciation based on the number of days for a specific month.

Note: The 4–4–5 calendar depreciation does not support irregular accounting periods. If
you want to generate monthly depreciation history records and journal entries for an irregular
accounting period setup, you must disable the Use Accounting Period Date for Depreciation
preference from the FAM System Setup page. Also note that when you disable this preference, the
depreciation will use calendar months. In the 4–4–5 depreciation formula, your DP should be equal
to the number of days in a specific month.

Creating a New Depreciation Method

In the Fixed Assets Management SuiteApp, you can create depreciation methods such as Units-of-
Production Depreciation Method, or Units of Time Depreciation.

To create a new depreciation method:

1. Go to Fixed Assets > Setup > Depreciation Methods > New.
2. On the New FAM Depreciation Method page, enter the following details:
■ Name – Enter a name for the depreciation method.
■ Depreciation Method Description – Enter a brief description of the depreciation method.
■ Depreciation Period – Select the period units for depreciation calculation. Monthly and
Annually are both supported for Other Methods, but only Monthly is currently supported for the
Accounting Method
□ Monthly – This option computes depreciation amounts monthly.
□ Annually – This option computes depreciation amounts annually.
□ Annual Depreciation, Monthly Posting – This option computes the depreciation amount
annually, but divides the amount into 12, and posts in the depreciation journal entries every
month.

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 Creating a New Depreciation Method 32

In accordance with the Japanese National Tax Authority requirement, a different

computation will be used to determine the depreciation amount for months 1-11 and for
month 12. For month 12, the depreciation value will be computed as the difference between
the total annual depreciation and the sum of the first 11 months. For example, if an asset
is valued at $1,000,000 and should be depreciated by $500,000 on Year 1, depreciation
amount will be computed as follows:
Depreciation for Months 1-11:
▬ $500,000 / 12 = $41,666.66
▬ Round up = $41,667
Depreciation for Month 12:
▬ $500,000 - Sum of depreciation for Months 1-11
▬ $500,00 - ($41,667*11)
▬ $500,000-458,337 = $41,663

Note: For this depreciation period, the asset lifetime reflects the number of
fiscal years for the asset. Selecting this depreciation method will adjust the asset
depreciation end date to the end of the last fiscal year in the asset lifetime. This
depreciation period is only available for Japan.

■ End Period Number – If this depreciation method covers a limited period (for example, only
the first 12 months of the asset lifetime), enter a figure into this field to indicate the number of
periods that the depreciation method can be used for. If this field is blank then depreciation will
continue until the asset has been completely depreciated or has been retired.
■ Next Depreciation Period – This feature enables depreciation methods to be linked. If the
current depreciation method covers a limited period (for example, only the first 12 months
of the asset lifetime), select the next depreciation method which should take effect after the
current method's end period.
■ Depreciation Rate Table – Select the depreciation table that the system will use to determine
the depreciation rates to apply to this method. The options in the depreciation rate table are
currently only applicable to Japan depreciation.
See FAM 19.2 Depreciation Rate Table to check the rates that are used to compute the
depreciation amount for each rate table.
■ Depreciation Formula – Using the terms listed on the screen, enter a formula expression for
this depreciation method. The formula will be displayed with underlining to show how the terms
are grouped with the operators so that it is seen if extra parentheses are required to change
the evaluation order.
■ Select from the following Final Period Convention options:

Note: This field is relevant to accruals only.

□ Fully Depreciate – The remaining balance will be included in the final period calculation so
that the remaining value becomes zero.
□ Retain Balance – The final period will be calculated using the relevant accrual convention
without including any remaining balance. The remaining value will not become zero.

Depreciation Formula
In the Fixed Assets Management SuiteApp, each depreciation method consists of a formula that describes
how the amount of monthly or annual depreciation is calculated.

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 Depreciation Formula 33

Important: For depreciation periods, only monthly is currently supported for the book
(accounting) methods. Monthly and annually are both supported for alternate (tax depreciation)
methods. For information about using tax methods in the Fixed Assets Management SuiteApp,
see Alternate Methods (Tax Depreciation Methods).

The Depreciation Method page includes a list of available operators and constants that you can use:

■ ^ (to the power of, e.g., 5^2 = 5 squared)

■ ()*/+
■ any number with decimals (e.g., 12345.67)

Note: When creating a custom depreciation formula, you cannot use a comma for decimal
places (e.g., 12345,67).

■ IF condition THEN value if true ELSE value if true ENDIF

□ comparison operators (<=, <, ==, !=, >, >=)
■ ~ (maximum of two values, e.g., 2~5 = 5)
■ Original Asset Cost (OC) – The original cost of the asset, usually purchase price.
■ Current Asset Cost (CC) – The current cost of the asset. This will typically be the same as original cost,
but it provides an additional cost value to track and use where the cost may vary from the original
cost. Write downs affect this value.
■ Net Book Value (NB) – The current depreciated value of the asset.
■ Residual Value (RV) – The minimum value the asset will be reduced to. This is usually zero, unless a
residual value has been configured against the asset.
■ Asset Lifetime (AL) – The number of periods an asset will be depreciated for (asset effective life for tax).
■ Current Period or Age (CP) – The current age of the asset.
■ Total Depreciation Amount (TD) – The total amount of depreciation applied to the asset.
■ Current Usage (CU) – The current recorded usage of the asset.
■ Lifetime Usage (LU) – The total usage lifetime configured against the asset.
■ Last Depreciation Amount (LD) – The last depreciation amount.
■ Days held in current period (DH) – The number of days between the asset acquisition date or start
date of the current period (whichever comes later) and the end of life (disposal) date or the end of the
current period (whichever comes earlier).
■ Prior year net book value (PB) – The closing net book value at the end of the prior financial year
as stored on the asset record. The start and end of the year for the method is determined by the
Financial Year Start field. The Prior Year NBV is updated when the month being depreciated is the
same as the month set as the Financial Year Start. This captures the NBV value as it was for the
financial year that ended.
■ Depreciation Period (DP) — The number of days in a period.
■ Fiscal Year (FY) — The number of days in a fiscal year.
■ R1..Rn — A placeholder for values used in the depreciation rate table.

Formula Example: Straight Line Depreciation

Straight line depreciation formula:

(CC-RV)/AL

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 Depreciation Formula 34

(Current Asset Cost – Residual Value) / Asset Lifetime

Example:

Current Asset Cost: 20,000

Residual Value: 2,000

Asset Lifetime: 60 months

(20,000 – 2,000) / 60 = 300

As it is a straight line depreciation this will be the same depreciation amount every month.

Formula Example: Maximum of Two Values

The formula can also carry out two different depreciation calculations, and then select the calculation that
returns the highest value to use for the deprecation. To use this functionality, the two different formulae
are separated by the ~ character.

For example, the formula for the 150DB method is:

((NB-RV)*(1.5/AL))~((NB-RV)/(AL-CP+1))

Fixed Assets Management will calculate the results of ((NB-RV)*(1.5/AL)) and ((NB-RV)/(AL-CP+1))
individually and then use the highest amount for the depreciation. The net effect of this example is that
the first formula will return the highest value for the first part of the assets life before switching to the
second.

Month 1

Net book value: 20,000

Residual value: 2,000

Asset lifetime: 60 (5 years)

Current period: 1

((20,000 – 2,000)*(1.5/60)) = 450

((20,000 – 2,000)/(60 – 1 + 1)) = 300

Therefore the first formula (450) is used.

Month 30

Net book value: 10,409

Residual value: 2,000

Asset lifetime: 60 (5 years)

Current period: 30

((10,409 – 2,000)*(1.5/60)) = 210

((10,409 – 2,000)/(60 – 30 + 1)) = 271

Now the second formula (271) will be used, and the same amount will be used for the remainder of the
lifetime because the second is a straight line depreciation method. In this example, the formula switches a
third of the way through at about period 20.

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 Depreciation Formula 35

Formula Example: Diminishing Value Method for Tax

You can create a diminishing value method to calculate tax depreciation using a reduced rate in the initial
period (year of acquisition). For example:

Formula: (NB)*(DH/365)*(200/(AL/12)/100)

Depreciation Period: Monthly

Net book value is the depreciated value for tax purposes at the end of the prior period. The Prior Year Net
Book Value is the depreciated value for tax purposes at the end of the prior year.

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 Alternate Methods (Tax Depreciation Methods) 36

Alternate Methods (Tax Depreciation

Methods)
The Fixed Assets Management SuiteApp enables you to set up multiple alternate methods of asset
depreciation for tax reporting purposes. Alternate methods are not linked to NetSuite journal postings.
You can apply more than one tax depreciation method to an asset record, and view a Depreciation
Schedule Report based on the asset type of the asset record. You can also create a group tax
depreciation method that you can use for a pool of assets.

To set up and use tax depreciation methods, read the following topics:

■ Creating Alternate Methods (Tax Depreciation Methods)

■ Viewing or Editing Alternate Methods (Tax Depreciation Methods)
■ Adding Tax Depreciation Methods to an Asset
■ Using Tax Depreciation Methods

Creating Alternate Methods (Tax Depreciation

Methods)
In the Fixed Assets Management SuiteApp, you can create multiple alternate methods of asset
depreciation for tax reporting purposes. You can also create a group tax depreciation method that you
can use for a pool of assets.

To create a tax depreciation method:

1. Go to Fixed Assets > Setup > Alternate Methods > New.

2. On the New FAM Alternate Methods record, provide values for the following fields:
■ Name – Type a name for this alternate method.
■ Description – Type a description for this alternate method.
■ Depreciation Method – Select a depreciation method. You can create a new depreciation
method if it is not available in the dropdown list. For more information, see Depreciation
Methods.
■ Convention – Select the averaging convention that will be used to determine the treatment
of depreciation during the first year of an asset's depreciation. Conventions are supported
for alternate methods only, and the default value is None. For monthly depreciation periods,
the supported convention is Mid-Month. For annual depreciation periods, the supported
conventions are Half Year and Mid-Quarter. If the convention is set to Mid-Quarter, the asset
will start depreciating for half of the first quarter, regardless of when in that period the asset
came into service.

Note: If the Convention value is set to None, depreciation processing will follow the
depreciation rule selected in the parent asset record. For details on the depreciation
rules, see General Subtab.

■ Asset Life – Enter a value for the asset's lifetime. Units are determined by the value of the
Depreciation Period (monthly or annual) on the referenced Depreciation Method.

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 Creating Alternate Methods (Tax Depreciation Methods) 37

■ Financial Year Start – Select the first month of the financial year.
■ Subsidiary – Select the subsidiaries that this alternate method will be applied to. To select
multiple subsidiaries, press and hold the Ctrl key while selecting each subsidiary.

Important: Add any new subsidiary to applicable Alternate Depreciation Method and
to the Asset Type's Other Method records.

■ Pool Flag – Check this box if this method is used to depreciate a group of assets. For more
information, see Group Tax Depreciation.
■ Override Flag – Check this box to make the Depreciation Method, Convention, Asset Life,
Financial Year Start, and Period Convention fields editable when this tax method is added to an
asset record.
■ Period Convention – Select the convention that will be used to define a year:
□ 12 months of 30 days each – This convention is generally used in North America and
Europe, and produces a more uniform monthly depreciation.
□ Exact number of days in a month, year has 365 days – This convention is generally used
in Australia and New Zealand and produces uneven depreciations within the year.
3. Click Save.

The tax method that you created becomes available for selection in the Alternate Method field on the
Tax Methods subtab of an asset record.

For information about using group tax depreciation methods, see Using Tax Depreciation Methods.

Viewing or Editing Alternate Methods (Tax

Depreciation Methods)
In the Fixed Assets Management SuiteApp, you can edit any tax depreciation method that you create

To view or edit a tax depreciation method:

1. Go to Fixed Assets > Setup > Alternate Methods.

2. On the Alternate Methods List, click View next to the alternate method record that you want to
open.
3. Click Edit to modify the record.
4. Make the necessary changes, and then click Save.

Adding Tax Depreciation Methods to an Asset

Use the Tax Methods subtab on an asset record to assign tax depreciation methods to an asset. These
assignments enable tax reporting or corporate reporting methods to be tracked on the asset.

To manually add tax methods to an asset, read the Tax Methods Subtab topic in Manually Creating Asset
Records.

To add alternate depreciation methods to asset records using CSV import, read Adding Alternate
Depreciation Methods Using CSV Import.

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 Using Tax Depreciation Methods 38

Using Tax Depreciation Methods

To use a tax depreciation method:
1. On the Tax Methods subtab of an asset record, add a tax method. For information, see Tax
Methods Subtab.
2. Run a Depreciation Schedule report for the asset type of the asset record. For information, see
Generating Asset Reports.

Note: See also Asset Depreciation.

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 Asset Types 39

Asset Types
Before you create an asset record, you must create asset types. Each asset must be assigned an asset
type, which defaults some of the asset variables (on creation of new assets) and groups assets in reports
and during processing.

To create an asset type:

1. Go to Fixed Assets > Setup > Asset Types > New.
2. Provide values for the following fields:
■ Name – Enter a name for the asset type. For example, Furniture & Fixtures.
■ Description – Enter a general description for the asset type.
■ Accounting Method – Select the default depreciation method (formula) to use when creating
assets of this type. This method will be used to calculate the values that will be entered into the
accounting system.
■ Residual Percentage – Enter the percentage value of the original cost which the asset will
be worth at the end of its lifetime. For example, an asset purchased for $1,000.00 may be
worth $100.00 at the end of its lifetime, so the residual value percentage would be 10% (10% of
$1,000.00 is $100.00). Entering a residual value will always override the default value calculated
using the percentage.
■ Asset Lifetime – Enter the expected lifetime of the asset, in multiples of the depreciation
period. Only months is currently supported.
■ Operating Lease – Check this box to indicate that the asset type will be used for assets that are
generated from an operating lease. Once you set the asset type as operating lease, you can no
longer change it back to a normal asset type. Other Methods will also be tagged as Operating
Lease.
The Residual Value Percentage will not be used in any computation for Operating Lease asset
types. Setting the asset type to Operating Lease will disable the Residual Value Percentage.
3. Enter values in the fields on each of the subtabs:
■ General Subtab
■ Accounts Subtab
■ Maintenance Subtab
■ Other Methods Subtab
4. Click Save.
After saving the record, the Lifetimes subtab becomes available.
5. Enter values in the Lifetimes Subtab.
6. Click Save.

General Subtab
On the General subtab, provide values for the following fields:

■ Depreciation Active – Select from the following options:

□ True — Select True to make this asset type active and to include it in depreciation processing.
□ False — Select False if you do not want to include this asset type in depreciation processing.
□ On Project Completion — For assets related to a project, this option sets the assets to start
depreciation when the project is completed.

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 Asset Types 40

Note: The Depreciation Start Date and the Acquisition History record will be available, only
when the project is closed.

■ Include in Reports – Check this box to include the asset type in the Asset Summary Report. By
default, all assets are included in the report.
■ Revision Rules – Controls how revisions (revaluation) affect the asset. Select from the following
options:
□ Current Period — The depreciation of the asset to date is recalculated using the revised values,
and the difference between the calculated depreciation and the previously posted depreciation is
entered in the current period.
□ Remaining Life — The revision only applies to the asset from this point forward, so it only affects
future depreciation calculations.
■ Depreciation Rules – Select from the following options:
□ Acquisition – Asset is depreciated in the same period when it is first made active.
□ Disposal – Asset is depreciated in the final period of its lifetime.
□ Pro-rata – Asset will depreciate in proportion to a partial month in both the period of acquisition
and of disposal, based on a standardized 30-day month.
For example, if depreciation starts on June 18, 2011 and ends on September 17, 2011, then 13
days worth of depreciation is recorded in the first depreciation period, and 17 days worth of
depreciation is recorded in the final depreciation period.
The following examples illustrate depreciation computation by Pro-rata when depreciation starts
on the last day of the month:
▬ If depreciation starts on the last day of a 30–day month (for example, April 30) or of a 31–day
month (for example, January 31), depreciation is recorded for 1 day in the acquisition period,
and for 29 days in the disposal period.
▬ If depreciation starts on the last day of February, depreciation in the acquisition period is
calculated for 1 day plus the number of days to complete 30 days. The asset depreciates for
the corresponding partial month in the disposal period. For example, if depreciation starts on
February 28, three days (the 28th plus 2 days to make 30) worth of depreciation is recorded
for the first depreciation period, and 27 days worth of depreciation is recorded in the final
depreciation period.
□ Mid-month – If the Depreciation Start Date falls within the first half of the month (for example,
July 11, 2011), then depreciation starts on the same month of the asset acquisition (July). If the
Depreciation Start Date falls within the second half of the month (for example, June 18, 2011), then
depreciation starts on the month after the month of asset acquisition (July).
■ Depreciation Period – Select whether the asset will be depreciated monthly or annually.
■ Custodian – Select the default employee responsible for assets of this type.
■ Supplier – Enter the vendor that assets of this type are purchased from.
■ Disposal Item – Select a non inventory item (for sale), to be used on the generated sales invoice,
when the asset is disposed of (sold).

Accounts Subtab
Note: Account values must be populated if the tax method is associated to an accounting book.
For more information, see Linking Accounting Books to an Asset.

On the Accounts subtab, select accounts to post to for this asset type:

Fixed Assets Management

 Asset Types 41

■ Asset Account – Select the main asset cost account (balance sheet). When proposing new assets, this
is the account that will be searched for new transactions.
■ Depreciation Account – Select the account that will be tracking the accumulated depreciation
(balance sheet).
■ Depreciation Charge Account – Select the expense account for the depreciation charges (period
depreciation amount).
■ Write Off Account – Select the account for the asset write-off expense.

Note: This account cannot be the same as the Inventory Asset account selected for an item.

■ Write Down Account – Select the account for the asset write-down expense.
■ Disposal Cost Account – Select the account for the asset disposal (sale) expenses.
■ Asset Account Last Checked – Enter a start date for the New Asset Proposal process which will
search for transactions dated on or after this date. This date will be automatically updated each time
asset proposal is run.

Note: In OneWorld accounts with multiple subsidiaries, the date is tracked independently per
subsidiary.

Maintenance Subtab
On the Maintenance subtab, provide maintenance information for this asset type:

■ Inspection – Check this box if inspections are required for assets assigned to this asset type.
■ Inspection Period – If assets assigned to this asset type require inspection, enter the inspection
interval of the asset in months.
■ Warranty – Check this box if assets assigned to this asset type are covered by a warranty agreement.
■ Warranty Period – If assets assigned to this asset type are under warranty, enter the warranty period
for the assets in months.

Other Methods Subtab

Note: The Other Methods subtab will be available on the Asset Type record when the asset type
has been created.

On the Other Methods subtab, default alternate depreciation (for analysis only) can be assigned to the
asset, with different asset lifetimes and residual values. This enables tax reporting or corporate reporting
methods to be tracked on the asset. These values are calculated automatically during asset depreciation
but do not generate financial transactions.

To add an alternate depreciation method to an asset type:

1. Go to Fixed Assets > Setup > Asset Type.
2. Click the View or Edit link of the asset type.
3. On the Other Methods subtab, click New FAM Default Alt Depreciation.
4. On the FAM Default Alt Depreciation page, select an Accounting Book and Alternate Method.
The available methods for selection include only those that you have set up in Fixed Assets > Setup
> Alternate Methods.

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 Asset Types 42

When you select an Alternate Method, the other fields are automatically populated:
■ Depreciation Method – Sourced from Alternate Method record.
■ Convention – Sourced from Alternate Method record.
Averaging conventions determine the treatment of depreciation during the first year of an
asset's depreciation. Conventions are supported for alternate methods only, and the default
value is None. If the depreciation period is monthly, the supported convention is Mid-Month. If
the depreciation period is annually, the supported conventions are Half Year and Mid-Quarter. If
the convention is set to Mid-Quarter, the asset will start depreciating for half of the first quarter,
regardless of when in that period the asset came into service.

Note: If the Convention value is set to None, depreciation processing will follow the
depreciation rule selected in the parent asset record. For details on the depreciation
rules, see General Subtab.

■ Asset Life – Sourced from Alternate Method record.

■ Financial Year Start – Sourced from Alternate Method record.
■ Period Convention – Sourced from Alternate Method record.
■ Depreciation Period – Sourced from Depreciation Method record.
■ Subsidiary – Sourced from the Alternate Method record.
■ Residual Percentage – Must be entered in the Other Methods of the Asset Type.
5. Click Save.

Lifetimes Subtab
On the Lifetimes subtab, click New FAM Lifetimes to enter location-specific defaults for the asset type.
This will default the Asset Lifetimes for the main (accounting) method based on the location of the asset.

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 Creating Mid-life Assets by Importing CSV Records 43

Creating Mid-life Assets by Importing CSV

Records
In the Fixed Assets Management SuiteApp, instead of creating asset records for all your existing assets,
you can migrate the fixed asset data from your previous system to NetSuite using the CSV import feature.
Mid-life assets (assets that have already started depreciating) are created in NetSuite by importing data
using the CSV Import Assistant. For each asset record, a depreciation history records must be created
to record the cumulative depreciation to date. If preferred, several depreciation history records may be
imported for each asset, representing each prior period of depreciation.

Note: The Acquisition History Record is automatically created if you defined a depreciation start
date for the asset.

Important: Values for assets migrated through CSV import are not automatically posted to
the fixed asset general ledger accounts. You must create the journal entries manually to post the
values for these assets.

Note: For best results and to save time, get SuiteConsulting Professional Services to help
implement and customize NetSuite for your unique business requirements. Contact your NetSuite
sales representative for information.

Import Guidelines for Mid-life Assets

■ On Fixed Assets > Setup > System Setup, make sure that the Run Server Scripts on CSV Import box
is not checked.
■ On Setup > Import/Export > CSV Import Preferences, check the Run Server SuiteScript and Trigger
Workflows box.

Note: If the Run Server SuiteScript and Trigger Workflows box is cleared, asset values will
not be automatically created. You can leave this box checked because it is a common setup for
companies.

Take note of the following rules:

□ If Run Server Scripts on CSV Import is also checked, then values from the CSV will be overridden
with default values of 0 (such as Cumulative Depreciation, Last Depreciation Date, and Last
Depreciation Period).
□ If Run Server Scripts on CSV Import is cleared, then values from the CSV will be imported.
■ Import Asset Record data first, then import Depreciation History data
■ When importing data into a OneWorld account, the Subsidiary field is a required field for FAM Asset
and FAM Asset Depreciation History imports.
□ You must map the NetSuite Subsidiary field to a field in your CSV file, or the import will fail.
□ CSV file values for subsidiaries should be hierarchical names, in the format grandparent : parent :
child, for example, Consolidated Parent Company : UK Subsidiary : Euro Subsidiary.
■ If Multiple Currencies is enabled, the Currency Id field is a required field for FAM Asset imports. The
Currency Id is the internal id of the base currency used by the subsidiary. To determine the internal id
of a currency, go to Lists > Accounting > Currencies.
■ If Location, Department, and Class are mandatory fields on a journal entry, these fields are required
for FAM Asset imports.

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 Creating Mid-life Assets by Importing CSV Records 44

■ If the Prior Year Net Book Value is not equal to the Asset Original Cost:
□ Set the Asset Original Cost to an amount equal to the Prior Year Net Book Value, and then import
the asset record.
□ If you are also adding an alternate depreciation for mid-life assets, import the alternate
depreciation method. This will copy the Asset Original Cost on the asset record, and set the amount
on the Prior Year Net Book Value for both the asset record and the alternate depreciation method.
□ After the asset records are imported, perform another import to update the Asset Original Cost to
the correct amount. If you added an alternate depreciation, perform another import to update the
Asset Original Cost on the alternate depreciation method record.
■ Asset Type is a required field for FAM Asset and FAM Asset Depreciation History imports.
■ You do not have to follow the format of the system generated name for the depreciation history
record. You can use any value for the Name field in the CSV file to identify the depreciation period for
the depreciation history records you are importing. Avoid using a “|” separator in the name so that the
record will not be picked up in the depreciation search.
■ To expose all fields for import, set the preferred form for both FAM Asset and FAM Asset Depreciation
History to the standard form. Go to Customization > Lists, Records, & Fields > Record Types and
click a record. Click the Forms tab and check the standard form. To maintain data integrity, reset the
preferred form back to the custom form when imports are complete.
■ When upgrading to a OneWorld account, the system will not automatically populate the values in
the asset record’s Subsidiary field. You can update the asset record using CSV import. Note that you
must manually add a value for the subsidiary before importing the CSV file. Alternatively, you can also
contact NetSuite Professional Services to assist you with data migration.

Importing Fixed Asset Records Using CSV Import

Before attempting to import asset data, it is best to perform a test import first to verify that your CSV
import works without errors. Set up a test CSV file of a few assets and review the formatting carefully to
ensure that the data is imported with correct values.

Use the CSV Import Assistant to import your fixed asset records from their previous location.

To import Fixed Asset records:

1. Go to Setup > Import/Export > Import CSV Records.
2. In the Import Assistant Step 1 – Scan & Upload CSV File screen:
1. From the Import Type list, select Custom Records.
2. From the Record Type list, select FAM Asset.
3. Select the asset CSV file.
4. Click Next.
3. In the Import Assistant Step 2 – Import Options screen:
1. Set Data Handling to Add.
2. From the Custom Form list, select Standard FAM Asset Form.
3. Click Next.
4. In the Import Assistant Step 4 – Field Mapping screen:
1. Map the fields in your CSV file to the NetSuite fields.
The following fields can affect the depreciation process, and you should assign values to
these fields:
■ Name

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 Creating Mid-life Assets by Importing CSV Records 45

■ Asset Description
■ Asset Type
■ Original Cost
■ Current Cost
■ Residual Value Percentage
■ Residual Value
■ Net Book Value
■ Asset Lifetime
■ Depreciation Start Date
■ Last Depreciation Date
■ Last Depreciation Period
■ Last Depreciation Amount
■ Subsidiary
■ Status
You can add values for other fields, as well. When you are finished, review the CSV and
NetSuite fields to verify that all desired fields are mapped.

Note: If the NetSuite fields are not listed, it means that the standard form is not
selected as the preferred form. Be sure to select the standard form to show all
fields.

Important: You must delete the Name = ID field mapping that is automatically
set by the CSV Import Assistant. Removing this mapping enables NetSuite to
use the standard Fixed Assets Management number format for the asset ID (for
example, FAM001234). If this Name = ID field mapping is not removed, then the
system encounters an error when a Name value exceeds 30 characters.

2. Click Next.
5. In the Import Assistant Step 5 - Save Mapping and Start Import screen:
1. Enter an Import Map Name and Description.
2. Click Save & Run.

Important: When creating asset records through CSV import, default tax methods associated
to asset types will also be imported. Some fields for the tax methods, however, will not be
populated. You must perform another import to update the fields with missing values. For more
information, see Updating Tax Methods through CSV Import.

Updating Tax Methods through CSV Import

Step 1: Create saved search and export to a CSV file
1. Create a saved search as follows:
a. Go to Lists > Search > Saved Searches > New.
b. Select FAM Alternate Depreciation.
c. Enter a new search title.

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 Creating Mid-life Assets by Importing CSV Records 46

d. On the Criteria subtab, edit the filters as necessary.

e. On the Results subtab, add or remove fields as necessary. You must have the following
fields:
■ Internal ID
■ Asset Status
■ Last Depreciation Date
■ Last Depreciation Period
■ Last Depreciation Amount
■ Cumulative Depreciation
f. On the Available Filters subtab, add your required filters.
g. Click Save.
2. Access the saved search at Lists > Search > Saved Searches.
3. Run the saved search by clicking its Results link.
4. On the saved search results, click Export - CSV to export the Search results as a CSV file.

Step 2: Import CSV file as a Depreciation History Record

1. Go to Setup > Import/Export > Import CSV Records.
2. In the Import Assistant Step 1 – Scan & Upload CSV File screen:
1. From the Import Type list, select Custom Records.
2. From the Record Type list, select FAM Depreciation History.
3. Select your CSV file, and then click Next.
3. In the Import Assistant Step 2 – Import Options screen:
1. Set Data Handling to Add.
2. From the Custom Form list, select Standard FAM Depreciation History.
4. Step through the CSV Import Assistant to import the depreciation history records using the
following mapping:

Important: If you are importing Depreciation History Records that should be associated
with the Tax Methods, you must map the Internal ID of the FAM Alternate Depreciation
to the "Alternate Depreciation" NetSuite Field. You must also set the Reference Type to
"Internal ID". Otherwise, the imported Depreciation History Records will be associated to
the Accounting Method.

Your Field NetSuite Field

Set the Reference Type to “Internal ID” Asset

Asset Type Asset Type

Last Depreciation Date Date

Current Net Book Value Net Book Value

Set the Default Value to “Depreciation” Transaction Type

Subsidiary Subsidiary

Quantity Quantity

Name Name

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 Creating Mid-life Assets by Importing CSV Records 47

Your Field NetSuite Field

Set the Reference Type to “Internal ID” Alternate Depreciation

Depreciation Period Depreciation Period

Accounting Book Accounting Book

To set default values and reference types on fields, see Setting Default Values and Reference Types.

Creating and Importing Depreciation History Records as

CSV
To create Depreciation History records, you must create a saved search that pulls the appropriate fields
from the Fixed Assets Management - Asset record. You then export the results of the search to a CSV
file. Then you import the CSV file to create the Depreciation History - Depreciation record. Read the
following topics for more information:

■ Original Asset Record versus Depreciation History Records

■ Step 1: Export Depreciation History Records as a CSV file
■ Step 2: Import the CSV File as a Depreciation Record

Original Asset Record versus Depreciation History Records

The following table shows sample values of an original asset record:

ID Name Asset Asset Original Cost Current Net Book Cumulative Depreciation Start Last Depreciation
Type Value Depreciation Date Date

FAM002488 Balcony Super-str 1000.00 983.33 16.67 08/03/2011 08/31/2011

ucture

After the asset values have been imported for use in the Fixed Assets Management SuiteApp, the
Depreciation History record will be created, similar to those shown in the following table for a single
company account.

Asset Asset Type Transaction Net Book Transaction Date Transaction Type
Amount Value

FAM002488 Superstructure 16.67 983.33 08/31/2011 Depreciation

Balcony

The table shows a Depreciation History Asset of transaction type Depreciation.

Note: When importing into a OneWorld account, an additional column for the subsidiary is
required.

Creating Depreciation History Records from an Original

Asset Record

Step 1: Export Depreciation History Records as a CSV file

The first step to creating Depreciation History records is to create a saved search that pulls the
appropriate fields from the Fixed Assets Management - Asset record and then export the search results
to a CSV file.

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 Creating Mid-life Assets by Importing CSV Records 48

To create the saved search and export to a CSV file:

1. Create a saved search on the Fixed Assets Management - Asset record as follows:
1. Go to Fixed Assets > Searches > Asset Register.
2. Click Edit this search.
3. Enter a new search title.
4. On the Criteria subtab, edit the filters as necessary.
5. On the Results subtab, add or remove fields as necessary. You must have the following
fields:
■ Internal ID
■ ID
■ Name
■ Asset Type
■ Asset Original / Current Cost
■ Current Net Book Value
■ Depreciation Start Date
■ Last Depreciation Date
■ Subsidiary (for OneWorld accounts)
6. On the Available Filters subtab, add your required filters.
7. Click Save.
2. Access the saved search at Lists > Search > Saved Searches.
3. Run the saved search by clicking its Results link.
4. On the saved search results, click Export - CSV to export the Search results as a CSV file:
Example: Original Asset Import CSV File

Example: Depreciation History CSV File Exported from Saved Search

Next, take the resulting CSV file and use it to create Depreciation records.

Step 2: Import the CSV File as a Depreciation Record

After creating the CSV file, you can now import it to create the depreciation history record.

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 Creating Mid-life Assets by Importing CSV Records 49

Note: To ensure that your CSV files are successfully imported, review the Import Guidelines for
Mid-life Assets.

To import the CSV file as a Depreciation History record:

1. Go to Setup > Import/Export > Import CSV Records.

2. In the Import Assistant Step 1 – Scan & Upload CSV File screen:.
1. From the Import Type list, select Custom Records.
2. From the Record Type list, select FAM Depreciation History.
3. Select the asset history CSV file.
4. Click Next.
3. In the Import Assistant Step 2 – Import Options screen:
1. Set Data Handling to Add.
2. From the Custom Form list, select Standard FAM Depreciation History.
4. Step through the CSV Import Assistant to import the depreciation history records using the
following mapping:

Your Field NetSuite Field

Set the Reference Type to “Internal ID” Asset

Asset Type Asset Type

Last Depreciation Date Date

Current Net Book Value Net Book Value

Cumulative Depreciation Transaction Amount

Set the Default Value to “Depreciation” Transaction Type

Subsidiary Subsidiary

Set the Default Value to “Accounting Method” Depreciation Method

Quantity Quantity

Name Name

Depreciation Period Depreciation Period

Accounting Book Primary Accounting Book

To set default values and reference types on fields, see Setting Default Values and Reference Types.

Setting Default Values and Reference Types

When mapping the NetSuite fields for depreciation, you must set default values for Transaction Type,
Reference Type, and Depreciation Method.

The following screenshot shows the default value for the Transaction Type being set to Depreciation.

Fixed Assets Management

 Creating Mid-life Assets by Importing CSV Records 50

The following screenshot shows the Reference Type for Asset being set to Internal ID.

The following screenshot shows the Depreciation Method default value being set to Accounting Method.

Fixed Assets Management

 Creating Mid-life Assets by Importing CSV Records 51

When mid-life assets have been successfully imported into the NetSuite Fixed Assets Management
system, you can view the asset records at Fixed Assets > Lists > Assets. The depreciation history of an
asset can be viewed on the Depreciation History subtab of the asset record.

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 Updating Fixed Assets Management Records 52

Updating Fixed Assets Management

Records
To update your asset records and depreciation methods in the Fixed Assets Management SuiteApp, read
the following topics:

■ Updating Asset Records Using CSV Import

■ Adding Alternate Depreciation Methods Using CSV Import
■ Manually Editing Asset Records
■ Restricting the Editing of Asset Values
■ Triggering the Asset Reset Process

Updating Asset Records Using CSV Import

You can use the CSV Import Assistant in NetSuite to update data that is already in the Fixed Assets
Management SuiteApp. If the updates affect the original cost, depreciation start date, or cumulative
depreciation, then you may also need to update the original asset history records.

On the Fixed Assets Management System Setup page, you can define which roles can edit asset values.
For more information, see Restricting the Editing of Asset Values.

Important: Before you attempt to import asset data, it is best to perform a test import to verify
that your CSV import works without errors. Set up a test CSV file of a few assets and review the
formatting carefully to ensure that data is imported with correct values. Make sure that the asset
type in the CSV file appears exactly the same as how it is set up in your NetSuite account.

Important: To ensure that FAM bundle scripts are running on new assets created using CSV
import, you must enable Run Server Scripts on CSV Import (Fixed Assets > Setup > System
Setup) and Run Server SuiteScript and Trigger Workflows (Setup > Import/Export > CSV Import
Preferences).

To update asset records using CSV import:

1. Prepare an Import File by creating a custom view from the existing Fixed Asset list in NetSuite.
1. Go to Fixed Assets > Lists > Assets.
2. Click Customize View.
3. Set Criteria to filter the list as necessary.
4. Choose the fields to be updated and add them to the Results subtab of the new custom
view.

Important: The NetSuite Internal ID of the Asset is required to link the updated
information to the correct asset.

5. Click Preview.
6. Click Export - CSV and save the CSV file.
2. On Fixed Assets > Setup > System Setup, make sure that the Run Server Scripts on CSV Import
box is not checked. If this box is left checked then information such as Cumulative Depreciation,
Last Depreciation Date and Last Depreciation Period will be auto-populated with default values of

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 Updating Asset Records Using CSV Import 53

0 even if true amounts are included in the import file. For more information, see Import Guidelines
for Mid-life Assets.
3. Go to Setup > Import/Export > Import CSV Records. In the Import Assistant Step 1 - Scan & Upload
CSV File screen:
1. From the Import Type list, select Custom Records.
2. From the Record Type list, select FAM Asset.
3. Select the CSV file to upload.
4. Click Next.
4. In the Import Assistant Step 2 - Import Options screen:
1. Set Data Handling to Update.
2. From the Custom Form list, select Standard FAM Asset Form.
3. Click Next.
5. In the Import Assistant Step 4 - Field Mapping screen:
1. Map the fields in your CSV file to the NetSuite fields.
■ Make sure that the Internal ID mapping type is set to Internal ID.

■ Review the CSV fields and NetSuite fields to verify that all desired fields are mapped.
2. Click Next.
6. In the Import Assistant Step 5 - Save Mapping and Start Import screen:
1. Enter an Import Map Name and Description.
2. Click Save & Run.

Adding Alternate Depreciation Methods Using CSV

Import
In the Fixed Assets Management SuiteApp, you can use the CSV import Assistant in NetSuite to update
alternate depreciation methods assigned to asset records.

Important: Before you attempt to import asset data, it is best to perform a test import to verify
that your CSV import works without errors. Set up a test CSV file of a few assets and review the
formatting carefully to ensure that data is imported with correct values.

To add alternate depreciation methods to asset records using CSV import:

1. Prepare an Import File by creating a custom view from the existing Fixed Asset list in NetSuite.
1. Go to Fixed Assets > Lists > Assets.

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 Adding Alternate Depreciation Methods Using CSV Import 54

2. Click Customize View.

3. Set Criteria to filter the list as necessary.
4. Choose the fields to be updated and add them to the Results subtab of the new custom
view.
To see the necessary fields to be imported, read FAM Alternate Depreciation Sublist.

Important: The Asset's NetSuite Internal ID is required to link the updated

information to the correct asset.

5. Click Preview.
6. Click Export - CSV and save the CSV file.
2. On Fixed Assets > Setup > System Setup, make sure that the Run Server Scripts on CSV Import
box is not checked. If this box is left checked then information such as Cumulative Depreciation,
Last Depreciation Date, and Last Depreciation Period will be auto-populated with default values of
0 even if true amounts are included in the import file. For more information, see Import Guidelines
for Mid-life Assets.
3. Go to Setup > Import/Export > Import CSV Records. In the Import Assistant Step 1 - Scan & Upload
CSV File screen:
1. From the Import Type list, select Custom Records.
2. From the Record Type list, select FAM Alternate Depreciation.
3. Select the CSV file to upload.
4. Click Next.
4. In the Import Assistant Step 2 - Import Options screen:
1. Set Data Handling to Add.
2. Click Next.
5. In the Import Assistant Step 4 - Field Mapping screen:
1. Map the fields in your CSV file to the NetSuite fields.
■ Make sure that the Internal ID mapping type is set to Internal ID.

■ Review the CSV fields and NetSuite fields to verify that all desired fields are mapped.
2. Click Next.
Example: CSV values

Example: Mapping
Fixed Assets Management
 Adding Alternate Depreciation Methods Using CSV Import 55

6. In the Import Assistant Step 5 - Save Mapping and Start Import screen:
1. Enter an Import Map Name and Description.
2. Click Save & Run.

Triggering the Asset Reset Process

The Fixed Assets Management system records the changes to asset fields that are used in the
depreciation formula, or affect the DHR data and summarization. When the reset process is triggered, the
system deletes the forecast amounts for all affected records.

The reset process is triggered in any of the following ways:

Note: To ensure the process runs smoothly, add the FAM Asset Reset Data permission to your
custom role, and set the level to Create.

■ Summarization — Any change to the summarization (Summarize by field in the System Setup page)
will automatically trigger the reset process and will reset all asset records.
■ Scheduled Script — The FAM Trigger Reset Process (Scheduled) SS script triggers the reset
process daily, if the system detects record changes that require a reset. You can manually run the
script, or you can change the time when the script runs. For more information, see Changing the
Scheduled Script Runtime.
■ Fixed Assets Transactions and Field Mapping — When you run certain FAM transactions or
make changes to the field mapping, the Asset Reset process will be triggered. The following FAM
transactions triggers the reset process:
□ Asset Split
□ Asset Depreciation
□ Asset Disposal (includes bulk disposal)
□ Generate Depreciation Schedule
□ Asset Revaluation
□ Depreciation Schedule Report
□ Asset Transfer (includes bulk transfer)
■ Reset Asset Values in the System Setup Page — If the system detects record changes that will
require an asset reset, the Reset Asset Values button will be visible on the System Setup page. You
can go to Fixed Assets > System Setup, and click the button to trigger the reset process.
The following table lists fields that can trigger asset reset:

Asset Field Subtab Resets Due To

Fields that will always trigger reset

Asset Lifetime Update Forecast records

Parent Asset Summarization of Journals

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 Triggering the Asset Reset Process 56

Asset Field Subtab Resets Due To

Repair & Maintenance Category Maintenance Summarization of Journals

Repair & Maint Subcategory A Maintenance Summarization of Journals

Repair & Maint Subcategory B Maintenance Summarization of Journals

Project Journal Grouping

Depreciation Rules General Depreciation Formula

Inactive Update Forecast records

Depreciation Account Accounts Update Forecast records

Depreciation Charge Account Accounts Update Forecast records

Depreciation Active General Update Forecast records

Custom Segment fields Journal Grouping

Fields that will trigger reset only if included in the Depreciation Method formula

Asset Original Cost Depreciation Formula

Asset Current Cost Depreciation Formula

Residual Value Depreciation Formula

Residual Value Percentage Depreciation Formula

Depreciation Method Depreciation Formula

Asset Lifetime Usage Depreciation Formula

Current Net Book Value Depreciation Formula

Depreciation Start Date General Depreciation Formula

Depreciation End Date General Depreciation Formula

Last Depreciation Period General Depreciation Formula

Last Depreciation Amount General Depreciation Formula

Financial Year Start General Depreciation Formula

Annual Method Entry General Depreciation Formula

If Asset Reset is triggered, the following processes will be added to the Process Status page. You can click
the Details link on any process to view the process stage details.

Process Process Stage Process Stage Description

Reset Asset Prepare Data to Gather changes to the record that will affect associated assets or tax methods.
Reset Records

Reset Asset Values Removes the tag that identifies the record as having forecast amounts.

Delete Old Deletes old forecast records and summary records with no associated records.
Forecast Values

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 Triggering the Asset Reset Process 57

Process Process Stage Process Stage Description

Note: Forecast values will be generated when the system runs the
script to generate the depreciation schedule. You can manually run the
script or change its schedule. For more information, see Managing Fixed
Assets Scripts.

Manually Editing Asset Records

If you have enabled the Allow Asset Value Editing preference on the Fixed Assets Management System
Setup page (Fixed Assets > Setup > System Setup), administrators have full permission to edit values in
asset records. Other roles may also edit values in asset records if their roles are selected in the User Roles
field on the Fixed Assets Management System Setup page.

If the Allow Asset Value Editing box is not checked, most of the fields on the asset record are
uneditable. See Restricting the Editing of Asset Values for a list of fields that cannot be edited.

Note: To enter negative values in asset records, you must also check the box for the Allow
Negative Asset Cost preference on the Fixed Assets Management System Setup page.

When an asset record is set to inactive, the depreciation schedule values for the asset’s accounting and
tax method will be deleted to prevent it from depreciating.

Note: Due to a system limitation, forecast amounts are not deleted if you check the Inactive
box from the Asset List view (Fixed Assets > Lists > Assets). To make sure that forecast amounts for
inactive assets are deleted, check the Inactive box from the Edit view of the asset record.

Restricting the Editing of Asset Values

On the Fixed Assets Management System Setup page, you have the option to restrict the editing of asset
values. Editing asset values can be done manually on the Edit FAM Asset page, or by inline editing on the
Asset list, or by CSV import.

On the System Setup page, checking the Allow Asset Value Editing box gives the Administrator role full
permission to edit values in asset records. But you can also grant permission to additional roles let other
users edit asset values.

If the Allow Asset Value Editing box is not checked, then most fields are set to read-only to prevent
asset editing.

■ The following fields are set to read-only to prevent manual editing by anyone, regardless of the asset
condition and user's role:
□ Cumulative Depreciation
□ Last Depreciation Period
□ Last Depreciation Amount
□ Last Depreciation Date
□ Asset Status
■ When depreciation has started for an asset (the Cumulative Depreciation field has a value more than
zero), or when the Asset Status is Disposed, the following fields are set to read-only to prevent manual
editing by anyone, regardless of the user's role:

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□ Accounting Method
□ Residual Value Percentage
□ Residual Value
□ Asset Lifetime
□ Asset Lifetime Usage
□ Asset Original Cost
□ Asset Current Cost
□ Purchase Date
□ Depreciation Start Date
□ Depreciation End Date
□ Depreciation Rules
□ Currency
□ Quantity
□ Asset Serial Number (not editable only if a value has been saved for this field)
□ Alternate Asset Number (not editable only if a value has been saved for this field)
□ Current Net Book Value (even if the field is disabled, the value can be updated if the asset is new)

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Manually Creating Asset Records

In the Fixed Assets Management SuiteApp, you can enter fixed assets into the system by importing
previous fixed asset data, manually creating asset records, or generating asset records from transaction
records. Generating asset records from transaction records is typically done for newly acquired assets.

The asset record defines the asset and its depreciation rules, and displays the asset's net book value,
depreciation life to date, last depreciation date, original cost, and residual value. After asset types are
entered, details of individual assets can be entered on individual asset records. Some information are
automatically populated with the default values when the asset type is selected so that details do not
require re-keying.

Important: Unlike for assets generated from transaction records, values for assets that are
created manually or migrated into NetSuite using the CSV import feature are not automatically
posted to the fixed asset general ledger accounts. You must create the journal entries manually to
post the values for these assets.

Important: To ensure that FAM bundle scripts are running on new assets created using CSV
import, you must enable Run Server Scripts on CSV Import (Fixed Assets > Setup > System
Setup) and Run Server SuiteScript and Trigger Workflows (Setup > Import/Export > CSV Import
Preferences).

To create an asset record:

1. Go to Fixed Assets > Lists > Assets > New.
2. Enter values for the following fields:

Note: The ID is system-generated.

■ Name – Enter a name for the asset.

■ Asset Description – Enter a brief description of the asset.
■ Asset Serial Number – Enter a serial number to track or identify the asset.
■ Alternate Asset Number – Enter an additional asset reference number.
■ Parent Asset – If this asset is part of a collection of assets, select the parent asset that
this asset belongs to. Child assets are automatically depreciated when the parent asset is
depreciated, and could also be affected by other operations upon the parent asset.
■ Project – Select the project that the asset is related to. You can set the Depreciation Active
setting to On Project Completion for assets related to a project. This will automatically start
asset depreciation when the project completes. For more information on Depreciation Active,
see General Subtab.

Note: If the asset record is generated from a proposal, the Project field will be
populated based on the defined project on the transaction or proposal record. The
project name will also be visible on the Name field in the depreciation journal entries.

■ Asset Type – Select the asset type for this asset.

When you select an asset type, default values based on the asset type will automatically
populate most of the asset record fields. The asset type also categorizes assets in reports and
other processes.
■ Asset Original Cost – Enter the original (purchase) cost of the asset.

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■ Asset Current Cost – Enter the current cost of the asset. This will include any write-down
amounts which have been applied to the asset.
■ Residual Value Percentage – Enter the percentage value of the original cost that the asset
will be worth at the end of its lifetime. For example, an asset purchased for $1,000.00 may be
worth $100.00 at the end of its lifetime, so the residual value percentage would be 10% (10% of
$1,000.00 is $100.00). Entering a residual value will always override the default value calculated
using the percentage. The default value is set by asset type.
For Operating Lease Asset Types, this field will be set to 0% and will not be editable.
■ Residual Value – Enter the value that the asset will be worth at the end of its lifetime. For
example, an asset purchased for $1,000.00 may be worth $100.00 at the end of its lifetime.
The Residual Value for Operating Lease will be equal to the total interest amount, but will be
shown as a negative value
■ Accounting Method – Select the depreciation method (formula) to use when depreciating this
asset. This accounting method will be used to calculate the values that will be entered into the
accounting system. The default method is set by asset type.
■ Asset Lifetime – Enter the expected lifetime of the asset, in multiples of the depreciation
period. Only months is currently supported.
If an Asset Lifetime value is entered, the system automatically populates the Depreciation
End Date field if a date is also manually entered in the Depreciation Start Date field on the
General subtab (see General Subtab). If no value is entered in the Asset Lifetime field, the
system automatically computes the asset lifetime if valid values are manually entered in the
Depreciation Start Date and Depreciation End Date. If either the Depreciation Start Date or
Depreciation End Date is changed and the new value entered is valid, the system automatically
computes the new asset lifetime. The system displays a notification message whenever the
asset lifetime is automatically changed.

Note: The Acquisition History Record is automatically created if you defined a

depreciation start date for the asset. The SuiteApp does not currently support the
automatic recalculation of the Asset Lifetime value if the Depreciation End Date is
changed using CSV import or by scripting.

■ Depreciation Period – Inline HTML text showing the Depreciation Period of the selected
Accounting Method. For information, see Depreciation Methods.
■ Asset Lifetime Usage – If the depreciation of the asset is governed by the use made of that
asset (for example, vehicle mileage), enter a lifetime usage figure that represents the total
number of units available for the asset. When the total usage to date equals the lifetime usage,
the asset will have reached the end of its lifetime.
■ Current Net Book Value – The current book valuation of the asset.
■ Cumulative Depreciation – The total depreciation amount applied to date to the asset.
■ Asset Status – Defaults to ‘New'. Asset Status is automatically set to ‘Disposed' when the asset
is disposed of.
■ Customer Location – Select a customer or create a new customer record.
3. Enter values in the fields on each of the subtabs:
■ General Subtab
■ Accounts Subtab
■ Lease Subtab
■ Insurance Subtab
■ Maintenance Subtab

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■ Asset Sale/Disposal Tab

4. Click Save. Enter values on the additional subtabs that appear:
■ Tax Methods Subtab
■ Depreciation History Subtab
■ Asset Usage Subtab
■ Sub-Assets Subtab
■ Income/Expense Subtab
5. Click Save.

Asset Values Record

Each asset record has a corresponding asset values record to store the values that are regularly updated
when you depreciate the asset. Whenever an asset record is created, manually or from transactions, the
system automatically creates the associated asset values record.
To speed up the depreciation process, only the asset values record is updated whenever an asset is
depreciated. Depreciation fields on the asset record will also be updated because their values are sourced
from the asset values record.
To view the asset values records, go to Customization > Lists, Records, & Fields > Record Types. On the
Record Types page, click the List link next to FAM Asset Values.

Note: Manually making changes to the asset values record is not recommended because this
can cause problems with your Fixed Assets records.

Recovering Asset Values

Starting with Fixed Assets Management 19.1, all assets currently in use should already have asset values.
If the assets do not have asset values, the following fields will be removed or deleted from the system:

■ Current Net Book Value

■ Last Depreciation Amount
■ Last Depreciation Date
■ Last Depreciation Period
■ Prior Year NBV

If you still need these values, you can use a script to recover the asset values for the affected assets.

To recover deleted values:

1. Search for all assets that do not have asset values and get their internal IDs.
2. Go to Customization > Scripting > Script Deployment.
3. Look for the FAM Retrieve Asset Values MR script, and click the Edit link beside it.
4. On the Script Deployment page, click the Parameters subtab.
5. In the Asset ID field, enter the Internal ID of the assets, separated by a comma.

Compound Assets
Compound assets are parent or primary assets that are comprised of multiple child assets, called
components. Simple assets, in comparison, are regular or single assets that do not have components. A
component can be a simple asset or also a compound asset.

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This feature lets you create a compound asset by attaching multiple components (child assets) to the
parent asset. You can add components that have the same asset type, subsidiary, and accounting method
as the compound asset. The status of each component must either be new, depreciating, or partially
disposed. You cannot add fully depreciated or disposed assets as a component in a compound asset.

Note: You should limit the compound asset to five levels, with a total of 1000 assets and 1000
tax methods. To avoid performance issues, make sure that compound assets are built within the
recommended limit of the Fixed Assets Management SuiteApp.

To build a compound asset:

1. Go to Fixed Assets > Lists > Build Compound Asset.
2. Provide values for the following fields:
■ Asset Name – Enter a name for the asset.
■ Asset Type – Select the asset type for the compound asset.
■ Accounting Method – Select the accounting method to use when depreciating the compound
asset.
■ Subsidiary – Select the subsidiary for the compound asset.
■ Asset Cost – This will be automatically populated, and will show the combined asset cost of all
the components.
■ Current Cost – This will be automatically populated, and will show the combined current cost of
all the components.
3. In the Components section, add a component to the compound asset by selecting from a list of
existing assets, or by adding a new asset.
■ To add an existing asset as a component, click the arrow in the ID/Name field, and then select
an asset from the list.
■ To add a new asset as a component, click the ID/Name dropdown, and then select New or
click the + icon that appears next to the field. Provide information for the new asset. For more
information on creating asset records, see Manually Creating Asset Records.
4. Click Build to create the compound asset. You will be redirected to the Process Status page.

General Subtab
On the General subtab, provide values for the following fields:

■ Department – Enter a department for this asset.

■ Class – Enter a class for this asset.
■ Location – Enter a location for this asset.

Note: If location, department, or class are mandatory fields for a journal entry, then these
fields must be set on the asset record. For example, if your System Setup requires journal
entries to be posted on department change, then you must enter a department on the asset
record. For more information, see Setting Up the Fixed Assets Management System.

■ Subsidiary – If a you are using a OneWorld account, select the subsidiary for this asset.
For more information about transferring assets between subsidiaries, see Asset Transfer Accounts.
■ Currency – Displays the name of the base currency of the subsidiary.
■ Custodian – Select the employee responsible for the asset. The Assets subtab on the Employee record
displays a list of assets that the employee is a custodian of.

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■ Physical Location – Enter the location of the asset.

■ Include In Reports – Check to include the asset in the Asset Register and Asset Summary Report. By
default, all assets are included in the report.
■ Purchase Date – Enter the date when the asset was purchased.
■ Depreciation Start Date – Enter the date that the asset depreciation will start. For example, an asset
can be purchased but not received or put into service until a couple of months later.
■ Depreciation End Date – Enter the date that the depreciation of the asset is expected to finish. This
defaults to the asset's depreciation start date plus the useful lifetime.
The system displays an error message when the depreciation end date entered is earlier than the
start date. If values are entered in the Depreciation End Date and Depreciation Start Date fields,
and the values are valid, the system automatically computes the Asset Lifetime value. If the end date
is changed and the new value is valid, the system automatically adjusts the asset lifetime. The system
displays a notification message whenever the depreciation end date is automatically changed.

Note: The SuiteApp does not currently support the automatic recalculation of the Asset
Lifetime value if the Depreciation End Date is changed using CSV import or by scripting.

■ Last Depreciation Period – Defaults to zero.

■ Last Depreciation Amount – Defaults to zero.
■ Last Depreciation Date – Defaults to 1/1/1980.
■ Target Depreciation Date – Enter the next depreciation date as part of the depreciation process.
■ Depreciation Active – Select whether the asset is active and included in depreciation processing. An
asset related to a project can be set to automatically start depreciation when the project is completed.

Note: The Acquisition History record will automatically be created when the Depreciation
Start Date is already defined. When Depreciation Active is set to False, no Acquisition History
record is created. When Depreciation Active is set to On Project Completion, the Depreciation
Start Date will automatically be populated when the project is completed.

■ Depreciation Rules – Select from the following values:

□ Acquisition – Asset is depreciated in the same period as it is first made active.
□ Disposal – Asset is depreciated in the final period of its lifetime.
□ Pro-rata – Asset will depreciate in proportion to a partial month in both the period of acquisition
and of disposal, based upon a standardised 30-day month. For example, if depreciation starts on
June 18, 2011 and ends on September 17, 2011, then 13 days worth of depreciation is recorded in
the first depreciation period, and 17 days worth of depreciation is recorded in the final depreciation
period.
The following examples illustrate depreciation computation by Pro-rata when depreciation starts
on the last day of the month:
▬ If depreciation starts on the last day of a 30–day month (for example, April 30) or of a 31–day
month (for example, January 31), depreciation is recorded for 1 day in the acquisition period,
and for 29 days in the disposal period.
▬ If depreciation starts on the last day of February, depreciation in the acquisition period is
calculated for 1 day plus the number of days to complete 30 days. The asset depreciates for
the corresponding partial month in the disposal period. For example, if depreciation starts on
February 28, three days (the 28th plus 2 days to make 30) worth of depreciation is recorded
for the first depreciation period, and 27 days worth of depreciation is recorded in the final
depreciation period.
□ Mid-month – If Depreciation Start Date falls within the first half of the month (for example, July 11,
2011), then depreciation starts on the same month of the asset acquisition (July). If Depreciation

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Start Date falls within second half of the month (for example, June 18, 2011), then depreciation
starts on the month after the month of asset acquisition (July).
■ Revision Rules – Controls how revisions (revaluation) affect the asset. When ‘Current Period' is
selected, the depreciation of the asset to date is recalculated using the revised values, and the
difference between the calculated depreciation and the previously posted depreciation is entered in
the current period. When ‘Remaining Life' is selected, the revision applies to the asset from this point
forward, so the revision only affects future depreciation calculations. Default set by asset type.
■ Manufacturer – Enter the manufacturer of the asset.
■ Date of Manufacture – If known, enter the date of manufacture of the asset.
■ Supplier – Enter the supplier (vendor) the asset was purchased from.
■ Purchase Order – Select the purchase order for this asset.
■ Parent Transaction – Select the transaction that this asset was generated from, or otherwise
represents the acquisition of this asset.

Accounts Subtab
The Accounts subtab lists the ledger accounts that will be used when posting asset transactions. These
accounts are set by default when the asset type for this asset is selected, but you can edit the accounts on
this subtab.
Account values must be populated if the tax method is associated to an accounting book. For more
information, see Linking Accounting Books to an Asset.

Lease Subtab
Use the Lease Proposal subtab under the Lease Subtab to view details of the lease agreements for the
asset.

■ Lease Proposal – This field displays the link to the lease proposal record.
■ Lease Company – This field displays the company the asset is leased from.
■ Lease Contract Number – This field displays the contract number of the lease agreement.
■ Lease Start Date – This field displays the start date for the lease.
■ Lease End Date – This field displays the end date for the lease.
■ Finance Lease – This check box indicates if the asset is subject to a finance lease or operating lease.
■ Rental Frequency – This field displays the frequency of rental payments.
■ Lease Term – This field displays the expected term of lease.
■ Annual Interest Rate – This field displays the implicit interest rate to be charged on the financing of
this asset.
■ Total Interest - This field displays the total interest based on the lease payments.
■ Total NPV – This field displays the total net present value based on the lease payments.
■ Total Lease Payment – This field displays the total lease payments based on the lease payment
amounts.

Insurance Subtab
Use the Insurance subtab to enter details of insurance policies and claims taken out or made for this
asset. Policy dates can be recorded here.

■ Insurance Company – Select the insurance company that this asset is insured with.

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■ Insurance Policy Number – Enter the policy number of the insurance policy covering this asset.
■ Policy Start Date – Enter the insurance policy start date.
■ Policy End Date – Enter the insurance policy end date.
■ Insurance Value – Enter the value that the asset has been insured for.
■ Payment Frequency – Enter payment frequency in months.
■ Payment Amount – Enter the periodic payment amount.

Maintenance Subtab
Use the Maintenance subtab to enter details of any maintenance or warranty schedules applicable to this
asset.

■ Maintenance Company – Select the company that maintains this asset.

■ Maintenance Contract – Enter the contract number of the maintenance contract applicable to this
asset.
■ Inspection Required – Check this box if inspections are required for this asset.
■ Inspection Interval – If the asset requires inspection, enter the inspection interval, in months, of the
asset.
■ Last Inspection Date – Enter the date of the last inspection.
■ Next Inspection Date – Enter the date when the next inspection is due.
■ Warranty – Check this box if this asset is covered by a warranty agreement.
■ Warranty Period – If the asset is under warranty, enter the warranty period for the asset.
■ Warranty Start Date – Enter the start date of the warranty period.
■ Warranty End Date – Enter the expiry date of the warranty period.
■ Repair & Maintenance Category – Select a category of repair and maintenance.
■ Repair & Maint Subcategory A – Select a subcategory of repair and maintenance.
■ Repair & Maint Subcategory B – Select a subcategory of repair and maintenance.
■ Quantity – Enter the quantity of this asset.
■ Units of Measurement – Enter the units of measurement for this asset.
■ Quantity Disposed – Enter the quantity of assets disposed.

Components Subtab
The components subtab lists the components that make up the compound asset. From the components
sublist, you can modify the component’s asset record by clicking the Edit link next to the component.

In the Tax Methods sublist, you can view all the alternate method of each component. The values are
grouped by accounting book, alternate method, depreciation method, and currency.

In the depreciation history sublist, you can find the depreciation history for each component of the
compound asset. Values are grouped by accounting book, alternate method, depreciation method, asset
type, schedule, and date.

Tax Methods Subtab

Use the Tax Methods subtab to assign tax depreciation methods to an asset. Each method can have a
different asset lifetime and residual value. These assignments enable tax reporting or corporate reporting

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methods to be tracked on the asset. Values are calculated automatically when you run a Depreciation
Schedule report for the asset type of the asset. Tax depreciation methods are used for analysis purposes
and do not generate financial transactions.

First create an asset record, select an asset type, and then save the asset. The Tax Methods subtab will
only be displayed after saving the asset record.

If the Asset Type you selected has default alternate depreciation methods (see Other Methods Subtab),
those alternate depreciation methods will automatically be populated on the asset record's Tax Methods
subtab upon saving.

You can add more tax depreciation methods on the Tax Methods subtab (see FAM Alternate Depreciation
Sublist).

The Tax Methods subtab shows the FAM Alternate Depreciation sublist and the Alternate Depreciation
History sublist.

FAM Alternate Depreciation Sublist

The FAM Alternate Depreciation sublist in the Tax Methods subtab is where you can view each alternate
method defined on the asset record, and where you can also add more alternate methods.

Note: The Store History box is already checked by default.

To add alternate methods to a new asset record:

1. Go to Fixed Assets > Lists > Assets and use one of the following options to access the Tax Methods
subtab.
2. Click the View link of an asset.
3. On the FAM Asset page, click the Tax Methods subtab, and then click New FAM Alternate
Depreciation or click the Edit link of the defined FAM Alternate Depreciation.

Note: You can click the Remove link to delete the FAM Alternate Depreciation record.
Deleting the Alternate Depreciation record will also remove its associated Depreciation
History records. Any affected journal entries must be updated or deleted manually.

4. Select values for the fields. Most of the fields are already automatically populated.

Note: If the Override Flag is checked in the Alternate Method record (Fixed Assets >
Setup > Alternate Methods), the Depreciation Method, Convention, Asset Life , Financial
Year Start, and Period Convention fields are editable when this tax method is added to
an asset record. For information about fields on the Alternate Method record, see Creating
Alternate Methods (Tax Depreciation Methods).

■ Accounting Book – Select the accounting book that you want to associate to this tax method.
■ Posting – Check this box if you want this tax method to generate depreciation journal entries.

Note: You can set only one posting tax method per secondary accounting book. The
check box will be disabled if a tax method in the selected accounting book has been set
as posting.

■ Alternate Method – Select a tax method name from the dropdown, or click New to open a New
FAM Alternate Methods record and create a tax method. See Creating Alternate Methods (Tax
Depreciation Methods).

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Note: Available alternate methods are filtered based on the value of the asset record’s
Subsidiary field in the General subtab.

■ Depreciation Method – Defaults to the depreciation method defined in the selected Alternate
Method.
■ Original Cost – Sourced from the Asset record.
■ Current Cost – Sourced from the Asset record.
■ Residual Value Percentage – Sourced from the Asset record.
■ Residual Value – Sourced from the Asset record.
■ Asset Life – Sourced from the Alternate Method record.
■ Book Value – Sourced from the Asset Current Cost.
■ Cumulative Depreciation – Defaults to zero.
■ Asset Status – Select the status of this tax method.
5. Under the General subtab, specify values for the following fields:
■ Subsidiary – Sourced from the Asset record.
■ Depreciation Start Date – Shows the date when the tax method starts to depreciate.
■ Depreciation End Date - Date that the depreciation of the asset is expected to finish. This
defaults to the asset’s depreciation start date plus the useful lifetime.
■ Last Depreciation Date - The date of the most recent depreciation of this tax method.
■ Last Depreciation Amount – The value of the most recent depreciation of this asset. Defaults
to zero.
■ Last Depreciation Period - The period number (within the lifetime of the tax method) in which
the asset was most recently depreciated.
■ Depreciation Active - Select whether the asset is active and included in depreciation
processing. An asset related to a job can be set to automatically start depreciation when the job
is completed. Default set by asset type.
■ Depreciation Rules - Select from the following values:
□ Acquisition – Asset is depreciated in the same period as it is first made active.
□ Disposal – Asset is depreciated in the final period of its lifetime.
□ Pro-rata – Asset will be depreciated in proportion to a partial month in both the period of
acquisition and of disposal, based on a standardized 30-day month.
□ Mid-month – If the Depreciation Start Date falls within the first half of the month, then
depreciation starts on the same month of the asset acquisition. Otherwise, depreciation will
start on the month after the asset acquisition month.
■ Revision Rules - Select how revisions (revaluation) affect the asset.
□ Current Period - The depreciation of the asset to date is recalculated using the revised
values, and the difference between the calculated depreciation, and the previously posted
depreciation is entered in the current period.
□ Remaining Life - The revision applies to the asset from this point forward, so the revision
only affects future depreciation calculations.
■ Financial Year Start – Sourced from the Alternate Method record.
■ Annual Method Entry – Select if the annual depreciations are posted on the Anniversary
(based on the depreciation start date) or the Fiscal Year (based on the last day of the fiscal
year).

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■ Convention – Sourced from the Alternate Method record.

Averaging conventions determine the treatment of depreciation during the first year of an
asset's depreciation. Conventions are supported for alternate methods only, and default value
is None. If the depreciation period is monthly, the supported convention is Mid-Month. If the
depreciation period is annually, the supported conventions are Half Year and Mid-Quarter. If
the convention is set to Mid-Quarter, the asset will start to be depreciated for half of the first
quarter, regardless of when in that period the asset came into service.

Note: If the Convention value is set to None, depreciation processing will follow the
depreciation rule selected in the parent asset record. For details on the depreciation
rules, see General Subtab.

■ Period Convention – Sourced from the Alternate Method record.

■ Depreciation Period – Sourced from the Depreciation Method record.
■ Prior Year NBV – Sourced from the Asset Original Cost on the Asset record.
The Prior Year Net Book Value is the asset's net book value for the selected tax method at the
end of the prior financial year. The start and end of the year for the method is determined by
the Financial Year Start field on the Alternate Method record. The Prior Year NBV is updated
when the month being depreciated for an Alternate Method (tax method) is the same as the
month set as the Financial Year Start. This captures the NBV value as it was for the financial year
that ended.
■ Group Depreciation – Sourced from the Alternate Method record.
■ Group Master – This box can only be checked if the Group Depreciation box is checked.
■ Allow Override - Sourced from the Alternate Method record. If this box is checked, you will
be able to edit the Depreciation Method, Convention, Asset Lifetime, Financial Year Start, and
Period Convention fields.
6. Click Add to add the alternate method to the asset. You can add as many tax methods as needed.
7. Check the Store History box if you want to store depreciation history records. Otherwise, clear the
box.

Important: Asset depreciation performance will be affected if the Store History box is
checked.

8. Click Save.
For more information on tax depreciation methods, see Using Tax Depreciation Methods.

For more information on tax depreciation methods, see Using Tax Depreciation Methods.

Asset Sale/Disposal Tab

Use the Asset Sale/Disposal subtab to provide details about the sale or disposal of the asset.

Note: Displayed values reflect the latest disposal that was processed for the asset. Previous
disposal values are overwritten.

■ Disposal Date – The date that the asset was disposed of, by sale or write-off.
■ Disposal Type – The disposal type to indicate whether the asset was sold or written off.
■ Disposal Item – The sales item used on the sales invoice generated when the asset was sold.
■ Customer – The customer to whom the asset was sold.

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■ Sales Amount – The amount that the asset was sold for.
■ Sales Invoice – The invoice relating to the sale of this asset.

Depreciation History Subtab

The Depreciation History subtab is automatically added to the asset record when a new asset record is
saved. The subtab displays a list of the accounting and tax method associated to the asset.

You can click the View link to open a new page where the history record for the selected accounting or
tax method is displayed. The Transaction Type column displays the history of asset activity (acquisition,
depreciation, revaluation, and disposal). Where this activity relates to financial adjustments, the
transaction detail can be viewed through the posting reference.

Note: When the depreciation amount is zero, a zero-value depreciation history record with a
blank Posting Reference field is generated. No journal entry is created.

The Depreciation History subtab shows history records for both accounting and tax methods. Clicking
the View link for a specific depreciation method opens the Depreciation History page in a new window
or tab. The Depreciation History page contains information about the depreciation history records and, if
applicable, links to the journal entries.

The Schedule filter on the Depreciation History page provides the following options:

■ Yes – Displays only transactions from Depreciation Schedule Reports (Fixed Assets > Reports >
Depreciation Schedule).
■ No – Displays transactions from Asset Depreciation (Fixed Assets > Transactions > Asset Depreciation).
■ All – Displays all depreciation history.

Asset Usage Subtab

The Asset Usage subtab is automatically added to the asset record when the asset record is saved. Details
of the usage (number of units used) of an asset, for use when depreciating by units rather than by time,
are recorded and displayed here. You can create new usage transactions on this subtab.

To enter asset usage from the Asset Usage subtab:

1. Click New FAM Asset Usage.
2. Provide values for the following fields:
■ Date – Enter the date of usage.
■ Period – Enter the period in which the usage took place. This could be a month, a week, an
accounting period name, or any other meaningful period.
■ Units Used – Enter the number of units used.
■ Comments – Enter any comments or reference text relating to the usage.
3. Click Save.

Sub-Assets Subtab
The Sub-Assets subtab is automatically added to the asset record when a new asset record is [Link]
the Sub-Assets subtab to add child assets to an asset.

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 Manually Creating Asset Records 70

To add a sub-asset to an Asset record:

1. Go to View or Edit mode of an asset record that you want to add sub-assets to. This asset is the
parent asset.
2. Click the Sub-Assets subtab.
3. Click New FAM Asset.
On the New FAM Asset page, the Parent Asset field displays the name of the parent asset.
4. Provide values for the fields and subtabs of the new asset record.
For more information, see Manually Creating Asset Records.
5. Click Save.
The new asset appears on the Sub-Asset subtab of the parent asset record. The FAM Asset ID is
automatically generated. You can click the sub-asset's FAM Asset ID to open the record and add or
edit information.
6. Repeat steps 3 to 5 to add more sub-assets to the asset.

To create a sub-asset by selecting a parent asset on the Asset

record:
An alternative way to create a sub-asset is by going to Fixed Assets > Lists > Assets > New, and then
selecting a parent asset from the Parent Asset dropdown list. Enter values in the fields and subtabs (see
Manually Creating Asset Records) and save the record.

Income/Expense Subtab
The Income/Expense subtab is automatically added to the asset record when the asset record is saved.
The Income/Expense subtab shows income you have gained from the asset or expenses you have
incurred such as fuel or maintenance costs. It also shows you the journal reference for quick access.

Notes Subtab
Use the Notes subtab to add notes related to this asset.

Files Subtab
Use the Files subtab to attach files related to this asset.

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 Creating Asset Records from Transactions 71

Creating Asset Records from Transactions

The Fixed Assets Management SuiteApp enables new assets to be created from transactions that
have been entered in the system. By default, the SuiteApp searches for new assets from the following
transaction types that have accounts that post against a fixed asset account:

■ Assembly Build
■ Vendor Bill
■ Inventory Adjustment
■ Inventory Transfer
■ Item Receipt
■ Journal
■ Credit Card
■ Check
■ Expense Report

On the Invoice, Journal Entry, and Vendor Bill transaction forms, a related asset may be added to a
transaction line in the Items sublist. This creates a custom record that will be attached to the asset, and
will be available in the asset record’s Income/Expense subtab. The related asset only acts as a reference,
no further computation or revaluation is processed.

There are two pages where asset records can be created from transactions:

■ Asset Proposal
■ Asset Creation

Both pages can be used, but typically one would be used for each period of asset creation.

Assets created from either page are created using background processes. If there are plenty of assets to
be created this may take some time.

For details about creating asset records from transactions, read the following topics:

■ Asset Proposal and Generation

■ Asset Creation
■ Multiple Asset Proposal

To monitor the status of the asset creation process, go to Fixed Assets > Background Processing > Status.

Asset Proposal and Generation

The Asset Proposal feature in the Fixed Assets Management SuiteApp enables you to capture the original
transaction (for example, purchase, expense, or inventory transfer) that indicates a new asset has been
recorded in the general ledger. This posting gives an original cost for the asset, and can include other
asset information such as the purchase date and supplier (if the original posting was from a payable
ledger transaction). Capturing transactions in this manner helps prevent assets from being overlooked,
and saves re-keying some of the asset details.

The Asset Proposal page (Fixed Assets > Transactions > Asset Proposal) enables you to create asset
proposals for the transactions that have been posted against the fixed asset general ledger accounts. You
then review the list of proposed assets and select which ones to create asset records for.

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 Asset Proposal and Generation 72

Note: If you encounter a permission violation when trying to view the Asset Proposal page,
make sure that your role has sufficient permission. For more information, see Setting Fixed Assets
Management Permission Levels. If you have the appropriate permissions, but are still experiencing
a permission error, ask an administrator to view the page first. Doing so will initialize the settings
for other users to be able to view the page.

Important: If Propose Approved Transactions Only is disabled, the system automatically

proposes assets from all transactions posted against the fixed asset general ledger accounts
regardless of transaction status. To enable the setting, go to Fixed Assets > Setup > System Setup.

Note: Asset Proposal no longer captures assets created from transactions relating to asset
transfers across asset types. For more information, see Transferring Assets Across Asset Types.

Proposing New Assets

1. Go to Fixed Assets > Transactions > Asset Proposal.
2. On the Asset Proposal page, enter values for the following fields:
■ Date Range — Select a date range value. The start date of the transactions that you want to
propose will be calculated based on the selected range and the specified end date.

Note: The date range will be set to Custom if you change the values for the Start Date
or End Date.

■ Start Date and End Date — Enter the date of the transactions that you want to propose. The
search will retrieve transaction records with dates that fall within the specified start date and
end date.
■ Subsidiary - Select the subsidiary of the transactions that you want to propose.
■ Include Children - Check this box to search transactions within the child subsidiaries of the
selected subsidiaries.
■ Asset Types - In the Asset Types sublist, select one or more asset types.
You cannot add an asset type that has the same operating lease and account name value as
another asset type that is already on the list.

Note: Lease journals for operating lease will only be proposed for asset types that are
tagged as Operating Lease.

3. Click Propose New Assets to manually run a check for new transactions and create proposals. The
system searches for new assets with transaction dates that fall within the start date and end date
values. An Asset Proposal record will be created for these assets and the records will be displayed
in a list on the Manage Proposals page.
You will be redirected to the Process Status page where you can track the progress of the asset
proposal.

Note: For Operating Lease Asset Types, the Residual Value will be equivalent to the
negative total interest.

Note: There is no limit to the number of assets that the Fixed Assets Management
SuiteApp can handle from one journal entry.

4. On the Proposed Assets sublist, mark or unmark asset proposal records as required.

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 Asset Proposal and Generation 73

Managing Asset Proposals

1. Go to Fixed Assets > Transactions > Manage Asset Proposal.
2. On the Proposed Assets Filters, enter values for the filters to limit the Proposed Assets result based
on the specified criteria.
■ Asset Type - Select Asset Type(s) to filter the list of proposals based on the Asset Type.
■ Subsidiary - Select Subsidiary(s) to filter the list of proposals based on the Subsidiary.
■ Include Children - Check this box to include the child subsidiaries as filter.
3. On the Proposed Assets sublist, mark or unmark asset proposal records as required.

Note: The search will only retrieve asset proposal records with New status.

4. Edit proposals if necessary.

For more information, see Editing Asset Proposal Records.
5. Click Generate Assets to create new assets from the marked Asset Proposal records.

Important: Make sure to click Generate Assets before moving on to a different page.
The system throws an error if you move away from a page where you have marked records
but did not run asset creation or rejection (see Rejecting Asset Proposals).

You will be redirected to the Process Status page, where you can track the status of the asset
proposal. On the Process Status page, the following processes will be queued for asset proposal.
You can click the Details link on any process to view the process stage details.

Process Process Stage Process Stage Description

Asset Proposal Propose New Assets Creates asset proposal records for new
assets.

Asset Generation Generate Asset Records Creates new assets from the proposal
records.

Generate Depreciation Generate Depreciation Creates a depreciation schedule for assets

Schedule Schedule Values and tax methods.

Customizing the Asset Proposal Sublist

You can customize the asset proposal sublist to add or remove certain FAM fields or transaction fields.
You can add the fields that are necessary for you to properly review the proposal records. You can also
remove the fields that are not relevant to you.

1. Go to Fixed Assets > Transactions > Manage Asset Proposal.

2. On the Proposed Asset sublist, click Customize to open the Customize Sublist window.
3. The Customize sublist window lists the fields, including custom fields, that you can add to the
proposal sublist. Check the box for fields that you want to add to the Proposed Asset sublist. Clear
the boxes for fields you want to remove from the sublist.

Important: If you want to delete or inactivate a field record, you must first clear the box
for that field in the Customize sublist.

Note: You cannot remove the ID, Transaction, Quantity, and Process fields.

4. Click Submit.

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 Asset Proposal and Generation 74

You will be redirected to the Manage Asset Proposal page, where you can view the changes you
made to the sublist.

Editing Asset Proposal Records

1. Go to Fixed Assets > Transactions > Manage Asset Proposal.
2. On the Manage Proposals page, click the Edit link of the asset proposal.
3. On the FAM Asset Proposal page, make your changes to the asset proposal record.
4. On the Other Methods subtab, click New FAM Proposal Alt Depreciation to add an alternate
depreciation method to the asset proposal.
Available alternate methods in the dropdown list are filtered by the asset proposal's Subsidiary
field in the General subtab. You can click Edit to modify Alternate Depreciation records that are
already defined.

Note: The Alternate Method and Residual Value Percentage fields are mandatory.

5. Click Save.

Splitting Asset Proposal Records

You can split an asset proposal record to process a certain number of assets in the original proposal
record separately. If the proposal record contains multiple quantities of an asset, a link to split the asset
proposal will be available on the Proposed Asset sublist.

1. Go to Fixed Assets > Transactions > Manage Asset Proposal.

2. On the Proposed Assets sublist, click the Split link for the proposal record that you want to split.
You will be redirected to the Proposal Split page.

Note: The Split link is available only if the proposal contains multiple quantities of an
asset.

3. On the Split Details sublist, provide values on the following columns:

■ Cost – Enter the cost of the total cost of the asset proposal record and quantity of assets to allot
to the proposal record.
■ Quantity – Enter the quantity of assets to allot to the proposal record.
■ New Item Description – Enter a description for the asset. This will represent the name and
description of the asset record.
4. Click Add.
The Remaining Quantity and Remaining Cost field on the Primary Information will be updated to
reflect the quantity and cost left to split.
5. On the Primary Information field group, check the Split Remaining box to equally split the
remaining quantity and cost into individual proposal records.

Note: You can split both the remaining quantity and cost only if their value is greater than
zero.

6. Click Split to split the original proposal record.

You will be redirected to the Process Status page, where you can track the status of the asset
proposal split. On the Process Status page, the following processes will be queued for asset
proposal split. You can click the Details link on any process to view the process stage details.

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 Asset Proposal and Generation 75

Process Process Stage Process Stage Description

Asset Proposal Split Asset Splits asset proposal records according to specified details.
Split Proposals

Update Related In case of failure, changes made in the previous stage will be
Records reverted. If the proposal split is successful, the status of the original
proposal record will be set to Split.

Rejecting Asset Proposals

On the Manage Asset Proposal page, select the proposed assets you want to reject and then click Reject
Proposals. Make sure to click Reject Proposals before moving on to a different page of proposals.

Unless you have Administrator access, the Reject Proposals box is not available if the Restrict Ability to
Reject Proposals box is checked on the Fixed Assets Management System Setup page (Fixed Assets >
Setup > System Setup).

Asset Creation
The Asset Creation feature in the Fixed Assets Management SuiteApp enables you to create assets
automatically without the need to propose them first.

When you use the Asset Creation feature, you can specify the start and end dates of the transactions
for which you want to create an asset. However, you will not be able to select individual transactions to
generate asset records for.

To create asset records:

1. Go to Fixed Assets > Transaction > Asset Creation.
2. On the Asset Creation page, enter values for the following fields:
■ Date Range — Select a date range value. The start date of the transactions that you want to
create assets for, will be calculated based on the selected range and the specified end date.

Note: The date range will be set to Custom if you change the values for the Start Date
or End Date.

■ Start Date and End Date — Enter the date of the transactions for which you want to create an
asset record. The search will retrieve transaction records with dates that fall within the specified
start date and end date.
■ Subsidiary - Select the subsidiary of the transactions that you want to create assets for.
■ Include Children - Check this box to search transactions within the child subsidiaries of the
selected subsidiaries.
■ Asset Types - In the Asset Types sublist, select one or more asset types.
You cannot add an asset type that has the same operating lease and account name value as
another asset type that is already on the list.

Note: Lease journals for operating lease will only be proposed for asset types that are
tagged as Operating Lease.

3. Click Create Assets.

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 Asset Creation 76

The system automatically creates asset records for all transactions that match the filter criteria and
have been posted against the fixed asset general ledger accounts.

On the Process Status page, the following processes will be queued for asset creation. You can click the
Details link on any process to view the process stage details.

Process Process Stage Process Stage Description

Asset Creation Prepare data to Generate Prepare data from transactions posted against the
Assets fixed asset general ledger accounts.

Generate Asset Records Create asset records.

Generate Depreciation Generate Depreciation Create depreciation history records for generated
Schedule Schedule Values assets and tax methods.

Assets that are already proposed will not be processed by Asset Creation. To create asset records for
proposed assets, use the Generate Assets option (Fixed Assets > Transactions > Asset Proposal). For more
information, see Asset Proposal and Generation.

In some cases, you may want to review, edit, and select the transactions before creating asset records for
them. For example, you may want to create parent-child relationships between asset proposal records if
you want to track them as a single asset. To combine assets, see Multiple Asset Proposal.

Note: Asset Creation no longer captures assets created from transactions relating to asset
transfers across asset types. For more information, see Restricting the Editing of Asset Values.

Multiple Asset Proposal

Within the Fixed Assets Management SuiteApp, the asset proposal process searches for new transactions
in the system and identifies potential assets. In some cases, multiple individual components may need to
be combined and tracked as a single asset.

You can edit an asset proposal and select a parent proposal to create a parent-child relationship between
asset proposal records.

To add a parent proposal to an asset proposal record:

1. Go to Fixed Assets > Transactions > Asset Proposal.

Note the ID of the proposal record that you want to assign as the parent.
2. In the Proposed Assets sublist, click Edit next to the asset proposal that you want to assign as the
child.
3. In the Parent Proposal field, select the ID of the parent proposal record.
4. In the Asset Description field, you can modify the description for this asset to describe its
relationship to the parent proposal.
5. Click Save.
You can modify the asset description on the parent proposal to describe the combined entity.

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 Multiple Asset Proposal 77

Parent Proposal

The child proposal record will no longer appear on the Proposed Assets sublist. You can find the
child proposal on the Subproposal tab of the parent proposal record.

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 Multiple Asset Proposal 78

Child Proposal

When the parent proposal is used to generate assets, the value of the child proposal is
accumulated into the parent. A single asset record is created using the asset description of the
parent and other details from the parent record.

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 Multiple Asset Proposal 79

Combined Asset Proposal

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 Managing Assets 80

Managing Assets
Important: Scripts triggered through script deployment does not have a corresponding FAM
process record. The FAM process record is a required parameter for FAM scripts, and without it,
the script will fail. Whenever possible, you should use the appropriate user interface for running
or generating FAM transactions and reports. The FAM process record is automatically created
when scripts are triggered through the appropriate user interface.

■ Asset Depreciation
■ Group Tax Depreciation
■ Asset Disposal by Sale or Write-Off
■ Partial Disposal of an Asset
■ Revaluation of an Asset
■ Asset Split
■ Asset Transfer

Asset Depreciation
Note: As of the latest version of Fixed Assets Management, custom journals cannot be used
with Multi-book accounting.

In the Fixed Assets Management SuiteApp, you can run Asset Depreciation to depreciate assets for the
first time or to depreciate an asset following a revision of the depreciation method or period.

Asset depreciation can be performed periodically for a single asset type or for several asset types. This
procedure is run to depreciate assets for the next period. The Fixed Assets Management SuiteApp will
decide which assets require depreciation by checking the depreciation start date, last depreciation period,
and depreciation rules. When posting the depreciation values, the system will create a batch of GL journal
entries.

An asset will depreciate for each period set on the depreciation method. An asset will depreciate for each
of its period intervals up to the date entered on the Depreciate Assets page.

For example, if an asset has a monthly depreciation period, and its last depreciation is in January, a
depreciation run for June will cause a depreciation to happen for February, March, April, May, and June.

Note: Depreciation processing ends when the last depreciation period has been reached for
both the accounting and alternate/tax methods assigned to the asset.

Important: If you enabled the accounting preferences Make Departments Mandatory, Make
Classes Mandatory, and Make Locations Mandatory, but the asset’s department, class, or
location is not set, the system will not process the depreciation. No depreciation history records or
journal entries will be created.

To depreciate assets for the period:

1. Go to Fixed Assets > Transactions > Asset Depreciation.

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 Asset Depreciation 81

2. Enter values for the following fields:

■ Asset Type(s) — Select one or more asset types.
■ Subsidiary(s) — Select one or more subsidiaries. An additional option to Include Children
indicates that any selected subsidiaries should also include any child subsidiaries (and their
children, to the end of the hierarchy).
■ Depreciation Period —Enter a date up to which assets will be depreciated.
■ Depreciation Reference —Enter a depreciation reference to be used as the base reference on
all generated journals. Leave this field blank to use the default reference.
3. Click Depreciate Assets. The Fixed Assets Management SuiteApp calculates the value to be
depreciated based on the depreciation method and period entered.
You will be redirected to the Process Status page, where you can track the status of the
depreciation. On the Process Status page, the following processes will be queued for asset
depreciation. You can click the Details link on any process to view the process stage details. For
more information, see Background Processing of Fixed Assets.

Process Process Stage Process Stage Description

Asset Depreciation Generate Depreciation Creates depreciation history records for assets and tax
Schedule Values methods with no existing depreciation schedule. If the asset
and tax methods already have a depreciation schedule, the
status will show Not Required.

Create Journal Entries Creates journal entries posting to the fixed asset depreciation
and expense accounts entered for the assets on the
Accounts tab. A journal entry is created per asset type and
per period of depreciation.

Prepare Data to Gets updated values from journal entries, and identifies which
Update Records records to update. The status will show Not Required if no
journal entry was created in the previous step.

Update Asset Records Updates values on the asset record. If Multi-book Accounting
is enabled on your account, this process also updates tax
methods with accounting books.

Update Tax Methods Updates tax methods. If Multi-book Accounting is enabled in

your account, this process also updates tax methods without
accounting books.

Update Compound Updates compound asset records.

Assets

Update Component Updates component asset records.

Assets

If you have enabled the Custom Transactions and Use Custom Journals preference, a specific
journal entry will be created for asset depreciation. You can view these journal entries in Fixed
Assets > Transactions > Journal Types. Note that you have to manually set the status of the journal
entry to Approved before it is posted. For more information, see Viewing and Approving Custom
Journal Entries.
Note that if the Require Approvals on Journal Entries preference is enabled, and you do not
have permission to approve journal entries, the system will require administrator approval before a
journal entry is posted.
When an adjustment period is included in the accounting period setup, the depreciation journal
entries will be posted to the end of the base period, if the period is still open. If the period is
already closed, the journal entry will be posted to the next open period.

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 Asset Depreciation 82

Note: When the depreciation amount is zero, a zero-value depreciation history record
with a blank Posting Reference field is generated. No journal entry is created.
The depreciation date should fall within an existing accounting period, otherwise no journal
entry will be created. If the accounting period is closed, the depreciation will be posted to
the next open accounting period.

Generating Depreciation Schedule Values

The latest version of the Fixed Assets Management SuiteApp includes the ability to forecast depreciation
values for both accounting and tax methods. This process automatically creates the depreciation
schedule for the entire life of the asset, upon its acquisition (when asset record is generated from a
proposal).
For assets that are manually created and imported via CSV, a scheduled script runs every Sunday to check
which assets do not have a depreciation schedule. The script creates the depreciation schedule based
on the asset’s depreciation start date, and depreciation period. The scheduled script will also adjust the
depreciation schedule values when there are changes to the depreciation history record during the
course of the asset’s life.

Note: You can set a different schedule for when the script runs, depending on your preference.
For more information, see Managing Fixed Assets Scripts.

A depreciation schedule cannot be created for assets in the following cases:

■ If the depreciation methods use the CU variable in their formula. For example, Asset Usage.
■ If the asset is included in a group depreciation.
■ If the Use Accounting Period Dates for Depreciation preference is enabled in your account, a
depreciation schedule will be created only up to the accounting period you have set up.

This feature is automatically enabled for newly-installed bundles.

Depreciation of Compound Assets

Although the components are depreciated together with the compound asset, they are treated as
individual assets. Each component will have a depreciation history record on its asset record. The
compound asset record will have a list that shows the total of all the component depreciation, including
alternate depreciation, but will have no journal entries. You can find the journal entries in the component
asset record under the Components > Depreciation History subtab.
The depreciation start date of the compound asset is set to the date of the component with the earliest
depreciation start date. The end date will follow the date of the component with the latest depreciation
end date.
For more information on depreciating an asset, see Asset Depreciation.

Sample Scenarios for Compound Asset Depreciation

The following describes different scenarios that you may encounter when depreciating a compound
asset. A corresponding table shows sample values for the compound asset and the component before
and after depreciation. For each scenario described, the straight line accounting method is used to
depreciate the assets on a monthly basis.

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 Asset Depreciation 83

Scenario 1: Depreciate a new compound asset that contains new components, all of which have the same
depreciation start date, for 1 month. Selected depreciation period is 1/31/2015.

Before Depreciation After Depreciation

Compound Component 1 Component 2 Compound Component 1 Component 2

Asset Status New New New Depreciating Depreciating Depreciating

Depreciation Start Date 1/1/2015 1/1/2015 1/1/2015

Asset Life 6 3 6

Asset Original Cost 900 300 600

Asset Current Cost 900 300 600

Current Net Book Value 900 300 600 700 200 500

Cumulative 200 100 100

Depreciation

Last Depreciation 1 1 1
Period

Last Depreciation 200 100 100

Amount

Last Depreciation Date 1/31/2015 1/31/2015 1/31/2015

Scenario 2: Fully depreciate all components of a compound asset. Each component has a different
depreciation end date. Selected depreciation period is 9/14/2015.

Before Depreciation After Depreciation

Compound Component 1 Component 2 Compound Component 1 Component 2

Asset Status New New New Fully Depreciated Fully Depreciated Fully Depreciated

Depreciation Start 1/1/2015 6/15/2015 1/1/2015

Date

Depreciation End Date 9/14/2015 9/14/2015 8/14/2015

Asset Life 9 3 6

Asset Original Cost 900 300 600

Asset Current Cost 900 300 600

Current Net Book 900 300 600 0 0 0

Value

Cumulative 900 300 600

Depreciation

Last Depreciation 9 3 6
Period

Last Depreciation 100 100 100

Amount

Last Depreciation Date 9/30/2015 9/30/2015 8/31/2015

Scenario 3: Depreciate a compound asset whose component depreciation history record has no
transaction amount. Selected depreciation period is 1/31/2015.

Before Depreciation After Depreciation

Compound Component 1 Compound Component 1

Asset Status New New Depreciating Depreciating

Depreciation Start 1/1/2015 1/1/2015

Date

Depreciation End Date 3/31/2015 3/31/2015

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 Asset Depreciation 84

Before Depreciation After Depreciation

Compound Component 1 Compound Component 1

Asset Life 3 3

Asset Original Cost 0 0

Asset Current Cost 0 0

Current Net Book 0 0 0 0

Value

Cumulative 0 0
Depreciation

Last Depreciation 1 1
Period

Last Depreciation 0 0
Amount

Last Depreciation Date 1/31/2015 1/31/2015

Depreciation history record: 1/1/2015 — 1/31/2015; Transaction amount: 0

Depreciation of Assets with Zero and Negative Costs

The Fixed Assets Management SuiteApp supports the depreciation of assets that have zero and negative
costs, so long as the combination of the affected asset costs is any of the following:

Original Cost Current Cost Residual Value

Negative Negative Negative

Negative Negative Zero

Negative Zero Zero

The minimum value that you can enter for an asset's Residual Value is zero. By default, the system uses
the absolute value of all negative asset costs. Therefore, depreciation for assets with negative values is
calculated using the absolute values of the original and current costs up to the zero or absolute Residual
Value.
You can manually enter negative values in asset records only if the Allow Negative Asset Cost
preference is enabled. For more information, see Setting Up the Fixed Assets Management System.

Important: For the Accounting method, the system does not depreciate assets with negative
costs if Allow Negative Asset Cost is not enabled. No depreciation history records or journal
entries are created. Note that even if the Allow Negative Asset Cost preference is not enabled,
negative costs can be entered in asset records depending on preference settings for CSV import.
For more information, see Import Guidelines for Mid-life Assets.

Group Tax Depreciation

To use group tax depreciation methods for a group of assets, do the following tasks:

1. Create an alternate depreciation method to use for group tax depreciation.

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 Group Tax Depreciation 85

2. Define assets for group tax depreciation.

3. Create a group master record for group tax depreciation.
4. Run Asset Depreciation for the group of assets.
5. Generate an Asset Depreciation Schedule Report. For more information, see Generating Asset
Reports.

Create an alternate depreciation method to use for group tax depreciation

1. Go to Fixed Assets > Setup > Alternate Methods.
2. Provide values for the fields and be sure to check the Pool Flag box. For more information, see
Creating Alternate Methods (Tax Depreciation Methods).
3. Click Save. The next step is to define the assets for group tax depreciation.

Define assets for group tax depreciation

1. Go to Fixed Assets > Lists > Assets.
2. Select the asset record to be included in the group depreciation.
3. Click the Tax Methods subtab of the asset record
4. Click New FAM Alternate Depreciation Method.
5. In the Alternate Method field, select the group tax depreciation method that you created. Notice
that the Group Depreciation box is already checked.
6. Enter the Book Value (NBV).
7. Enter or edit values in the other fields.
8. Click Save.
9. Repeat steps 1 to 8 for as many assets in the same subsidiary until you have defined all assets
that are required in the group. The next step is to create a group master record for group tax
depreciation.

Create a group master record for group tax depreciation

1. Go to Fixed Assets > Lists > Assets > New.
2. Type a name for this group master record.
3. On the General subtab, select a Subsidiary. The subsidiary of this group master record must be
the same as the subsidiary of the assets defined for the group depreciation.
4. Set Original Cost and Residual Value to zero.
5. Provide values for the following mandatory fields: Asset Type, Accounting Method, and Asset
Lifetime. Asset Type can be of any value.
6. Provide values for the other fields.
7. Click Save.
8. Click the Tax Methods subtab.
9. Click New FAM Alternate Depreciation.
10. In the Alternate Method field, select the group tax depreciation method.
11. Check the Group Master box.
Group Master box is available only if the selected Alternate Method is a group depreciation method
(Group Depreciation box is checked).
12. Click Save.

To run Asset Depreciation for the group, see Asset Depreciation.

To generate a Depreciation Schedule report for the group, see Generating Asset Reports.

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 Group Tax Depreciation 86

After assets have been depreciated, you can open the group master asset record and view its
depreciation history. The FAM Alternate Depreciation Sublist can be found in the Tax Methods subtab of
the asset record. The Show Schedule Entries filter provides the following options:

■ Yes – Display only transactions from the Depreciation Schedule Reports (Fixed Assets > Reports >
Depreciation Schedule).
■ No – Displays transactions from the Asset Depreciation (Fixed Assets > Transactions > Asset
Depreciation).
■ All – Displays all depreciation history.

Asset Disposal by Sale or Write-Off

The Fixed Assets Management SuiteApp enables you to write-off or sell a simple or compound asset.
When a fixed asset is disposed during, or at the end of its useful economic life, an adjustment needs to be
made to the depreciation provision account so that the account balance represents only the accumulated
depreciation to date on fixed assets held at that point in time.
Disposing an asset by sale lets you enter a proceeds value and post the difference between the net book
value and the proceeds earned from the sale of the asset to the general ledger. A sales invoice is created
using the Disposal Item as the line item, and the asset status is set to Disposed.
Writing off an asset will post the net book value and cumulative depreciation of the asset to the general
ledger and set the book value and cumulative depreciation of the asset to zero.
During asset disposal, the system creates depreciation histories for the asset's accounting methods and
tax methods (Depreciation History and Alternate Depreciation History Sublist). Asset disposal is applied
for both accounting and alternate/tax methods, where the amount sold is separately calculated for each
of the methods. For accounting methods, the amount is sourced from the Asset Current Cost in the
FAM Asset record. For alternate/tax methods, the amount is sourced from the Current Cost in the FAM
Alternate Depreciation record.
To access the Asset Sale/Disposal page, go to Fixed Assets > Transactions > Asset Disposal.

To sell an asset:
1. Go to Fixed Assets > Transactions > Asset Disposal.
2. On the Primary Information field group, provide values for the following fields:
■ Disposal Type – Select Sale.
■ Disposal Date – Enter a posting date for the disposal.

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 Asset Disposal by Sale or Write-Off 87

■ Consolidate Line Items on Invoice – Check this box to sum up the sales amount of all assets
for disposal, and consolidate it into a single line item on the invoice. Clear this box to itemize
each asset for disposal on the invoice.
■ Customer – Select the customer that the asset is being sold to.
■ Sales Tax Code – Select the tax code that applies to this sale.

Note: If SuiteTax is enabled on your account, the SuiteTax engine will automatically set
the tax code on the invoice. This field is not available if you are using SuiteTax. For more
information, see the help topic General SuiteTax Topics.

■ Sale Item – Select the sale item that will appear on the invoice.

Note: The Sale Item list is unfiltered and may contain items which are not valid for
disposal through sale. When you select an invalid item, an error will prompt you to select
an item for sale or resale.

Note: For OneWorld accounts, the customer, asset, sales tax code, and sale item must
have the same subsidiary.

3. On the Disposal Details field group, provide values for the following fields:
■ Asset ID/Name – Select the desired asset by name or ID. You can enter a simple asset,
compound asset, or component asset.

Note: If you selected a compound asset, all of its components will be added to the
page for disposal. The disposal process is the same for simple assets and component
assets.

■ Quantity To Dispose – Enter the quantity of assets being sold.

■ Sales Amount – Enter the sales amount.
■ Location – If the Multi-Location Inventory (MLI) feature is enabled, asset disposal by sale
requires setting a location value. If available, the location value is sourced from the FAM asset
record by default and cannot be edited to prevent untracked location transfers. If not available
from the asset record, you must select the value in the Location list on the Sale/Disposal page.
4. Click Add.
If you want to dispose multiple assets in a single transaction, enter another asset in the Disposal
Details section. Repeat step 3 as necessary.

Important: Check to make sure that the asset you are currently processing is the asset
that you want to dispose. Disposed assets can no longer be retrieved.

5. Click Dispose.
A Sale depreciation history record and a book generic sales invoice is created and the asset status
is set to Disposed.
If you have enabled the Custom Transactions and Use Custom Journals preference, a specific
journal entry will be created for asset disposal. You can view these journal entries in Fixed Assets
> Transactions > Journal Types. Note that you have to manually set the status of the journal entry
to Approved before it is posted. For more information, see Viewing and Approving Custom Journal
Entries.
Note that if the Require Approvals on Journal Entries preference is enabled, and you do not
have permission to approve journal entries, the system will require administrator approval before a
journal entry is posted.

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To dispose (write off) an asset:

1. Go to Fixed Assets > Transactions > Asset Disposal.
2. On the Primary Information section, provide values for the following fields:
■ Disposal Type – Select Write-off.
■ Disposal Date – Enter a posting date for the disposal.
3. On the Disposal Details section, provide values for the following fields:
■ Asset ID/Name – Select the desired asset by name or ID. You can enter a simple asset,
compound asset, or component asset.

Note: If you selected a compound asset, all of its components will be added to the
page for disposal. The disposal process is the same for simple assets and component
assets.

■ Quantity To Dispose – Enter the quantity of assets being sold.

■ Location – If available, the location value is sourced from the FAM asset record by default and
cannot be edited to prevent untracked location transfers. If not available from the asset record,
you must select the value in the Location list on the Sale/Disposal page.
4. Click Add.
If you want to dispose multiple assets in a single transaction, enter another asset in the Disposal
Details section. Repeat step 3 as necessary.

Important: Check to make sure that the asset you are currently processing is the asset
that you want to dispose. Disposed assets can no longer be retrieved.

5. Click Dispose. Writing off an asset sets the book value of the asset to zero.
A Disposal depreciation history record will be created. When the Multi-Book Accounting feature
is enabled on your account, a journal entry will also be generated to write off tax methods that are
associated to accounting books.
If you have enabled the Custom Transactions and Use Custom Journals preference, a specific
journal entry will be created for asset disposal. You can view these journal entries in Fixed Assets
> Transactions > Journal Types. Note that you have to manually set the status of the journal entry
to Approved before it is posted. For more information, see Viewing and Approving Custom Journal
Entries.
Note that if the Require Approvals on Journal Entries preference is enabled, and you do not
have permission to approve journal entries, the system will require administrator approval before a
journal entry is posted.

You will be redirected to the Process Status page, where you can track the status of the disposal. On the
Process Status page, the following processes will be queued for asset disposal. You can click the Details
link on any process to view the process stage details.

Process Process Stage Process Stage Description

Asset Disposal Dispose Asset Processes the asset for disposal.

Update Related Records Links the invoice to the asset record, if disposal is
successful. In case of failure, changes made in the previous
stage will be reverted.

Delete Old Forecast Values System deletes the existing depreciation schedule since it is
longer accurate after the asset is disposed.

Update Compound Assets Updates compound asset records.

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 Asset Disposal by Sale or Write-Off 89

Process Process Stage Process Stage Description

Update Component Assets Updates component asset records.

Generate Depreciation Generate Depreciation Creates new depreciation history records for generated
Schedule Schedule Values assets and tax methods.

To process multiple asset disposals using CSV import

Note: You cannot add columns or custom fields to this type of import.

1. Go to Fixed Assets > Transactions > Asset Disposal.

2. On the Asset Sale/Disposal page, click Import CSV.
3. On the Bulk Asset Disposal page, click Choose File to open the file browser, and then select the
CSV file that contains the records you want to process.
You can click the link below Choose file button to view a sample file.
4. Check the Consolidate Line Items on Invoice box to sum up the sales amount of all assets for
disposal, and consolidate it into a single line item on the invoice.
5. Click Submit.
The following table shows sample disposal values for a CSV import:

Disposal Disposal Date Customer Tax Code Sale Item Asset Quantity to Sale Amount Location
Type Dispose

Sale 1/31/2015 Customer -Not Item for 79 3 7,000.00 California

ABC Taxable- Disposal

Use the following mapping to enter values in your CSV file:

Header Value

Disposal Type Must match the disposal type.

Disposal Date Must match the disposal date and must not be earlier than the last depreciation date.

Important: To avoid inaccuracies when disposing the asset, make sure that
the date format in the CSV file follows the date format set by the administrator in
the General Preference page (Setup > Company > General Preference). To check
the date format, contact your account administrator.

Customer Must match the customer name. The asset and the customer must be under the same
subsidiary. Leave blank if the disposal type is Write Off.

Tax Code Must match the applicable tax code for the customer’s subsidiary.

Important: Remove this field or leave it blank if you are using SuiteTax, or if
the disposal type is Write Off.

Sale Item Must match the name of the non inventory item to be used for disposal. The asset and the
sale item must be under the same subsidiary. Leave blank if the disposal type is Write Off.

Asset Must match the asset internal ID.

Quantity to Must match the quantity of assets to be disposed.

Dispose

Sale Amount Enter the value to sell the asset. Must not be zero (0) or less. Leave blank if the disposal
type is Write Off.

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 Asset Disposal by Sale or Write-Off 90

Header Value

Location Must be under the same subsidiary as the asset’s current location.

When the Multi-Book Accounting feature is enabled on your account, a journal entry will also be
generated to write off tax methods that are associated to accounting books. For information on multi-
book asset disposal, see Disposing an Asset in Multiple Books.

Partial Disposal of an Asset

The Fixed Assets Management SuiteApp enables you to dispose a partial quantity of an asset. Asset
sale or disposal enables a partial quantity to be processed, in which case the quantity disposed must
be entered. The remaining value of the asset is reduced (similar to an asset write-down) so that future
depreciation calculates correctly. The quantity disposed is tracked on the asset record and asset will
retain its current status.
On the Asset Disposal page, you can specify the quantity of assets that you want to sell or write off in the
Quantity Disposed field. For more information, see Asset Disposal by Sale or Write-Off.

Revaluation of an Asset
The Asset Revaluation feature enables you to write down or revaluate an asset. A write-down is a form of
depreciation that involves a partial write-off. Writing down the asset lets you enter a new net book value
for the asset and post the difference to the general ledger. Revaluation is a procedure that adjusts the
true value of the fixed assets owned. Asset Revaluation is supported for accounting methods only. It does
not apply to alternate/tax methods that are not associated to an accounting book.
Starting with Fixed Assets Management version 18.1, asset and tax records are linked to an accounting
book. For non multi-book accounts, all records are tagged to the primary accounting book. With this
change, the tax methods will be visible in the Asset Revaluation page when you select an asset. Records
are arranged by accounting book, GL posting tax methods, and then non GL posting tax methods.

To revaluate an asset:
1. Go to Fixed Assets > Transactions > Asset Revaluation.
2. On the Asset Revaluation page, enter values for the following fields:
■ Asset ID/Name — Select the desired asset by name or ID.
Selecting an asset will display the revaluation section, showing the revaluation amount details
per accounting book and depreciation method.
■ Accounting Books — Select the accounting book that you want to revalue.

Note: This field is available only if you have enabled the Multi-book Accounting feature
in your account.

■ Write-down % — Enter the write-down percentage for revaluation. This will be applied to tax
methods associated to an accounting book.
For compound assets, the write-down percentage will be applied to all components. If you want
to apportion a different write-down percentage for each component, go to Step 4.
■ Transaction Date — Enter a date for the journal entry for this transaction. If the field is blank,
the system will use the date when the revaluation is processed.
The revaluation date must be on or after the Last Depreciation Date.
■ Transaction Reference — Enter a reference to identify the journal entry for this transaction.

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 Revaluation of an Asset 91

■ Write-down Amount – The write-down amount will be computed based on the Current Cost
and the Write-down %. You can enter a write-down amount to override the calculated value.
This amount is subtracted from the current net book value.
For compound assets, the write-down amount will display the total write-down of all the
components.
■ Adjusted Residual Value – Enter the new residual value of the asset.
■ Adjusted Lifetime – Enter the new lifetime of the asset.
When the adjusted lifetime is changed to a period that is equal to the last depreciation period,
the status of the asset will be set to Fully Depreciated. If the asset’s revision rule is set to
Current Period, the current net book value will equal the residual value, and the cumulative
depreciation will equal the asset current cost.
■ Adjusted Depreciation Method – Select the new depreciation method that will be used to
depreciate this asset.
3. Click Calculate to compute the write-down amount based on the write-down percentage.
If the Multi-Book Accounting feature is enabled on your account, clicking Calculate will also
enable the revaluation fields of the selected accounting books. If this feature is not enabled on
your account, you do not have to click Calculate. The revaluation fields will be enabled when you
select an asset.

Note: If you are revaluing a simple asset, any changes you make to the accounting
book selection and the write-down percentage requires you to recalculate the write-down
amount. When you removed an accounting book for example, you need to click Calculate
to remove the accounting method of that book from the revaluation. If you are revaluing
a compound asset, you can click Process Revaluation regardless of any changes you make
after calculating the write-down amount.

4. If you want to revalue only a specific component, or enter different write-down percentages
for each component, go to the Component section. Enter the write-down percentage for the
component you want to revalue.
5. Click Process Revaluation.
Journal entries are created to post the difference in value.
A revaluation depreciation history record will be written to each component of the compound
asset. The compound asset record will have a list that shows the total of all the component
revaluation, but will have no journal entries. You can find the journal entries in the component
asset record under the Components > Depreciation History subtab.
If you have enabled the Custom Transactions and Use Custom Journals preference, a specific
journal entry will be created for asset revaluation. You can view these journal entries in Fixed Assets
> Transactions > Journal Types. Note that you have to manually set the status of the journal entry
to Approved before it is posted. For more information, see Viewing and Approving Custom Journal
Entries.
Note that if the Require Approvals on Journal Entries preference is enabled, and you do not
have permission to approve journal entries, the system will require administrator approval before a
journal entry is posted.
You will be redirected to the Process Status page, where you can track the status of the revaluation.
On the Process Status page, the following processes will be queued for asset revaluation. You can
click the Details link on any process to view the process stage details.

Process Process Stage Process Stage Description

Asset Revaluation Revalue Asset Adjusts the value of the asset.

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 Revaluation of an Asset 92

Process Process Stage Process Stage Description

Update Related Records In case of failure, changes made in the previous stage
will be reverted. If the revaluation is successful, this
process is skipped and the status will be set to Not
Required.

Delete Old Forecast System deletes the existing depreciation schedule since
Values it is longer accurate after the asset is revalued.

Update Compound Updates compound asset records.

Assets

Update Component Updates component asset records.

Assets

Generate Depreciation Generate Depreciation Creates new depreciation history records for generated
Schedule Schedule Values assets and tax methods.

For information on asset revaluation in multi-book accounting, see Revaluating an Asset in Multiple Books.

Asset Split
The Fixed Assets Management SuiteApp enables you to split assets that are not yet fully depreciated, have
not been disposed of, or are not defined as inactive on the asset record.

The quantity field on the Maintenance subtab of the asset record tracks the number of individual
elements that form the asset. Asset split enables a specified quantity to be separated from the original
asset and create a new asset.

When splitting assets, new values must be provided for the cost and depreciation fields. Asset
depreciation will continue to work on each asset as a whole. If different depreciation rules need to be
applied to some of the quantity, then that quantity must be split to create a separate asset. Likewise, if
some of the asset quantity will be transferred to a different class, department, location or subsidiary, the
asset quantity must first be split to a separate asset and then moved. It is not possible to combine assets
(for example, reverse the process of splitting an asset).

To split an asset:
1. Go to Fixed Assets > Transactions > Asset Split.
2. In the Asset ID/Name field, select an asset to split.
The Split Details and Tax Methods subtabs will be available when you select an asset. Tax methods
associated with the selected asset will be displayed in the Tax Methods subtab.
3. Enter the Split Quantity in the field provided.
Details of the new and old asset values are available on the Split Details subtab. New asset values
are calculated based on the split quantity. These values can be edited. Take note of the following
conditions when modifying the split details:
■ Split quantity must not be zero.
■ The net book value must not be greater that the current cost for both the old and new assets.
■ The sum of the net book value and depreciation to date must equal the current cost.
■ The last depreciation amount must not be greater than the depreciation to date.
■ The residual value must not be greater than the current cost and net book value for both old
and new assets.
4. Click Split to create a new split asset and update the original asset.

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 Asset Split 93

You will be redirected to the Process Status page, where you can track the status of the asset split.
On the Process Status page, the following processes will be queued for asset split. You can click the
Details link on any process to view the process stage details.

Process Process Stage Process Stage Description

Asset Split Split Assets Splits assets according to the specified quantity.

Delete Old Forecast Values System deletes the existing depreciation schedule
since it is longer accurate after the asset is split.

Generate Depreciation Generate Depreciation Creates new depreciation forecast for the asset
Schedule Schedule Values and its associated tax methods

For information on asset split in multi-book accounting, see Splitting an Asset in Multiple Books.

Asset Transfer
The Fixed Assets Management SuiteApp enables you to transfer simple and compound assets across
asset types, subsidiaries, classes, departments, or locations. For asset transfers across subsidiaries,
records of valid asset transfer accounts are required. For more information, see Asset Transfer Accounts.

Starting with Fixed Assets Management version 4.0, Asset Transfers are processed in the Asset Transfer
page. You will not be able to transfer the Asset Type at the same time as the Subsidiary, Department,
Class, or Location. The Subsidiary, Department, Class, Location, and Asset Type fields on the Asset Record
are greyed out even if the Allow Asset Value Editing preference is enabled.

Note: The Fixed Assets Management SuiteApp does not support asset transfers using inline
editing. Inline editing lets you change values on the asset record, but this method cannot transfer
the asset's current cost and cumulative depreciation amount, nor does it create journal entries.
Also, asset transfer through mass updates is currently not available in the SuiteApp.

To process an asset transfer:

1. Go to Fixed Assets > Transactions > Asset Transfer.
2. On the Asset Transfer page, select an Asset ID or Name from the list. You can enter a simple asset,
compound asset, or component asset.
3. On the Transfer Date field, specify the effective transfer date for the asset. You can enter a future
date if you have enabled the Allow Future-dated Depreciation preference. For more information,
see Setting Up the Fixed Assets Management System.

Note: For future-dated transfers that require currency conversions, the system will use
the current foreign exchange rate at the time that you se the transfer date value.

4. Select the new Department, Class, Location, Subsidiary, or Asset Type for the asset.
When you transfer a compound asset, all of its components will be transferred as well. If one of
the components is also a compound asset, the transfer will also affect the components. You can
process a transfer for individual components, but only to another class, department, or location.

Note: When transferring a compound asset to another subsidiary, the components’ class,
department, and location remains the same. The transfer will not be processed if the asset’s
current class, department, and location is not a part of the subsidiary, where it is being
transferred to.

5. When you are finished, click Process Transfer.

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 Asset Transfer 94

When you transfer an asset, a catch-up depreciation will be computed to ensure that depreciation
is up-to-date.
You will be redirected to the Process Status page, where you can track the status of the asset
transfer. On the Process Status page, the following processes will be queued for asset transfer. You
can click the Details link on any process to view the process stage details.

Process Process Stage Process Stage Description

Asset Validate Asset Transfer Checks if the details of the asset being transferred, and its child
Transfer Values records, are valid.

Catch-up Creates new depreciation history records based on the asset’s last
Precomputation depreciation date and depreciation start date, up to the period
before the transfer date. This process will include the asset’s child
records.

Catch-up Journal Creates catch-up journal entries for posting records (assets or tax)
Creation based on the asset’s last depreciation date and depreciation start
date, up to the period before the transfer date. This process will
include the asset’s child records.

Note: In case a journal fails, the assets associated to

the failed journal entry are not transferred.

Prepare Data to Update Gets updated valued from journal entries, and identifies which
Records records to update. The status will show Not Required if no journal
entry was created in the previous step.

Update Asset Records Updates posting asset or tax methods based on its depreciation
values.

Update Tax Methods Updates non-posting tax methods based on its depreciation
values.

Transfer Assets Processes the transfer of the asset to the specified asset type,
subsidiary, class, department, or location.

Note: When the asset transfer fails, the catch-up

depreciation will not be rolled back.

Update Compound Updates affected compound assets.

Assets

Update Related In case of failure, changes made in the previous stage will be
Records reverted. If the asset is transferred successfully, this stage will be
skipped, and the status will be set to Not Required.

Delete Old Forecast System deletes the existing depreciation schedule since it is no
Values longer accurate after the asset is transferred.

If you have enabled the Custom Transactions and Use Custom Journals preference, a specific
journal entry will be created for asset transfer. You can view these journal entries in Fixed Assets >
Transactions > Journal Types. Note that you have to manually set the status of the journal entry to
Approved before it is posted. For more information, see Viewing and Approving Custom Journal
Entries.
Note that if the Require Approvals on Journal Entries preference is enabled, and you do not
have permission to approve journal entries, the system will require administrator approval before a
journal entry is posted.

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 Asset Transfer 95

Important: You need to update depreciation history records for asset transfers with a ‘Sale or
Disposal’ transaction type and a blank asset disposal type. The transaction type must be set to
‘Transfer’.

To process multiple asset transfers using CSV import:

Note: You cannot add columns or custom fields to this type of import.

1. On the Asset Transfer page, click Import CSV.

2. Click Choose File to open the file browser, and then select your CSV file.
You can click the link below the Choose File button to view a sample file.

Note: When using the sample CSV template, make sure to either provide a value for each
header or remove the headers that you do not need. If a header has no value, the existing
value for that header will be changed to blank when the transfer is complete.

3. Click Submit.
The following table shows sample transfer values for a CSV import:

Asset Asset Type Subsidiary Class Department Location

79 Computer Parent Company Servers Accounting California

Use the following mapping to enter values in your CSV file:

Header Value

Asset Must match the asset record’s internal ID

Asset Type Must match the asset type

Subsidiary Must match the asset’s subsidiary

Class Must match the asset’s class

Department Must match the asset’s department

Location Must match the asset’s location

Transferring Assets Across Subsidiaries

Important: Transferring assets across subsidiaries requires valid asset transfer records. For
more information, see Asset Transfer Accounts.

When you transfer an asset to another subsidiary, the system will journal the asset current cost and its
accumulated depreciation from the origin subsidiary accounts into the destination subsidiary accounts.

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 Asset Transfer 96

On asset transfer, the asset value will automatically be converted to the base currency of the destination
subsidiary. Depreciation Journal Entries created, and reports generated after the transfer will reflect the
new base currency. The Asset Original Cost, Asset, Current Cost, Residual Value, Current Net Book Value,
Prior Net Book Value, Cumulative Depreciation, and Last Depreciation Amount will also be converted to
the new base currency on asset transfer.

Historical records of the asset activities are tracked for both the accounting and alternate/tax methods.

Transferring Assets Across Classes, Departments, or Locations

When you transfer an asset to a different class, department, or location, the resulting transfer carries
over the asset's current cost and cumulative depreciation amount from the origin subsidiary to the
destination subsidiary. The transfer may generate journal postings depending on the setting for the Post
on Location Change, Post on Class Change and Post on Department Change preferences. For more
information, see Setting Up the Fixed Assets Management System.

Historical records of the asset activities are tracked for the accounting method only. No historical records
for alternate tax methods are created when transferring assets across classes, departments, or locations.

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 Asset Transfer 97

To record journal entry upon change of location, make sure that you have enabled the Post on Location
Change preference in Fixed Assets > Setup > System Setup.

Note: No journal entry is created for transfers to a class, department, or location, if the original
transfer value is null.

Transferring Assets Across Asset Types

Changing the asset type will also change the general ledger asset, depreciation account assignments,
and asset life. The last posted amounts for the asset current cost and cumulative depreciation are carried
over from the old to the new accounts through sale and reversal transactions. The asset life value will be
inherited from the asset life of the new asset type.

Historical records of the asset activities are tracked for both the accounting and alternate/tax methods.

Note that the tax methods with accounting book values on the original asset type must also be present
on the default alternate depreciation list of the destination asset type. Otherwise, the transfer will not be
processed. See the following example:

Accounting Book Alternate Depreciation

Secondary Book Depreciation Method 8

Original Asset Type
Secondary Book Depreciation Method 9

Empty Depreciation Method 9

Accounting Book Alternate Depreciation

Destination Asset Type Secondary Book Depreciation Method 8

Secondary Book Depreciation Method 9

Note: In the preceding example, the original asset type’s third alternate method (with an empty
accounting book) will also be transferred to the destination asset type.

Deleting Assets
This feature lets you remove invalid assets (including its related records) from the system. You can use
this feature to delete assets without associated journal entries and proposal records. If the asset has a
journal entry, you must manually remove the journal entry before deleting the asset.

Note: You cannot use this feature to delete compound assets. You can, however, delete non-
compound component assets.

To delete invalid assets:

1. Go to Fixed Assets > Setup > Delete Assets.
2. In the Delete Invalid Assets page, you can add the assets to delete through the Asset Details sublist
or through CSV import.
■ To add assets through the Asset Details list:

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 Deleting Assets 98

1. From the Asset Details list, select the asset ID or name that you want to delete, and then
click Add.
2. Click Delete.
A confirmation dialog pops up. Click OK to delete the assets and its associated records.
■ To add assets through CSV import:
1. Click Import CSV.
The system will redirect you to the Bulk Asset Deletion page.
2. In the Bulk Asset Deletion page, click Choose File to locate the CSV file from your
computer.
You can click the link below the Choose File field to view a sample CSV file.
3. Click Submit to upload your CSV file. You will be redirected to the FAM Process Status
page.

Viewing and Approving Custom Journal Entries

Important: You must enable the Use Custom Journals preference (from the FAM System
Setup page) and the Custom Transactions feature (from Setup > Company > Enable Features >
SuiteCloud > SuiteGL). As of the latest version of Fixed Assets Management, this feature cannot be
used with Multi-book accounting.

1. Go to Fixed Assets > Journal Types, and then select the journal type that you want to view.
The page displays a list of custom journal entries for a specific fixed asset transaction.
2. To approve a custom journal, click the Edit link for the journal entry that you want to approve.
3. In the Status list, select Approved.
4. Click Save.

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 Fixed Assets Lease Accounting 99

Fixed Assets Lease Accounting

The Lease Accounting feature is introduced in the Fixed Assets Management SuiteApp to comply with the
IFRS 16 and ASC 842 standards for lease. This standard requires lessees to recognize nearly all leases and
transfer all operating leases to the balance sheet starting on January 1, 2019.

The Lease Accounting feature lets you perform the following tasks using the Fixed Management SuiteApp:

■ Creating a Lease Record

■ Adding Lease Payments
■ Generating the Lease Amortization Schedule
■ Creating Lease Journal Entries
■ Recording Lease Interest
■ Modifying Lease Records

Prerequisites

Enable Required Feature

To ensure that you have access to the Lease record, you must enable the Custom Transactions feature. To
do so, go to Setup > Company > Enable Features > SuiteCloud and check Custom Transactions.

Setting up Permissions for Lease Accounting

To set up additional permissions for Lease Accounting:

1. Go to Setup > Users/Roles > Manage Roles.

2. Click the Edit link next to the custom role.
3. Under the Permissions subtab, click Custom Record.
4. Add the following permissions:

Subtab Permission Level

Transaction Lease Edit

Lists Vendors View

Custom Record Lease Payments Full

Setting Up General Ledger Accounts for Lease Accounting

Lease Accounting for Fixed Assets Management lets you recognize the right-of-use asset and lease
liability, and accrue interest. To take advantage of these features, you must create new GL accounts and
set it to the Lease record.

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 Prerequisites 100

Go to Lists > Accounting > Accounts > New, and add the following accounts:

Account Type

Right-Of-Use Asset Fixed Asset

Acc. Dep. — Right-Of-Use Asset Fixed Asset

Lease Liability Accounts Payable/Other Cur

Interest Expense Expense

Gain on Modification Other Income

Creating a Lease Record

The Lease record lets you propose a lease asset, define the terms of the lease, add lease payments, and
create the lease amortization schedule. When a lease journal has been generated, a link to the journal
entry will be available in the record page.

You can manually create a Lease record through the user interface, or upload the records through CSV
import.

To create a lease record manually:

1. Go to Fixed Assets > Leases > Lease > New.

2. Provide values for the following fields:
Primary Information
■ Lease Company – Enter the company where the asset is being leased from.
■ Lease Contract Number – Enter the contract number of the lease agreement.
■ Asset Description – Enter the name of the lease asset.
■ Lease Start Date – Enter the start date for the lease.
■ Lease End Date – Enter the end date for the lease.
■ Finance Lease – Check this box if the asset is under a finance lease. Leave the box unchecked if
the asset is under an operating lease.
■ Rental Frequency – Select the frequency of the rental payments:
□ Annual – Select this option if the lease is paid annually.
□ Monthly – Select this option if the lease is paid monthly.
■ Lease Term – Enter the expected term of lease.
■ Annual Interest Rate – Enter the implicit interest rate to be charged on the financing of this
asset.
Classification
■ Subsidiary – If you are using a OneWorld account, select the subsidiary of the lease company.
■ Class – Select the class of the lease asset to be leased.
■ Department – Select the department of the lease asset to be leased.
■ Location – Select the location of the lease asset to be leased.
■ Currency — This field shows the base currency of the subsidiary.

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Note: Multi-currency is currently not supported.

3. Click Save.
The status of the Lease will be shown at the top of the record page. The following table lists the
possible status for the Lease record:

Status Description

Pending Lease The record displays this status if it has no or incomplete lease payments. To enter
Payments lease payments, see Adding Lease Payments.

Pending Lease The record displays this status when lease payments have been entered, but
Schedules the lease schedules have not been created. To generate a lease schedule, see
Generating the Lease Amortization Schedule.

Pending Lease The record displays this status when lease schedules have been created, but the
Journal Creation lease journals have not been generated. The Create Lease Journal button will be
shown next to the Edit button at the top of the page. To generate a lease journal,
see Creating Lease Journal Entries.

Journal Created The record displays this status when a lease journal to recognize the right-of-use
asset and lease liability has been created. A link to the generated journal will be
available in the Lease record.

Asset Proposed The record displays this status when an asset proposal record has been created
for the lease journal entry. The generated Asset Proposal will be linked back to the
Lease record. For more information, see Asset Proposal and Generation.

Asset Created The record displays this status when an asset record has been generated for the
lease asset. The created Asset will be linked back to the Lease record.

To import lease records:

1. Go to Setup > Import/Export > Import CSV Records.

2. In the Import Assistant Step 1 – Scan & Upload CSV File screen:
a. From the Import Type list, select Transactions.
b. From the Record Type list, select Leases.
c. Select the proposal CSV file.
d. Click Next.
3. In the Import Assistant Step 2 – Import Options screen:
a. Set Data Handling to Add.
b. Click Next.
4. In the Import Assistant Step 4 – Field Mapping screen:
a. Map the fields in your CSV to the NetSuite fields.
b. Review the CSV fields and NetSuite fields to verify that all desired fields are mapped.

Note: If you remove the Date field from the import file, the system will
automatically use the current date.

c. Click Next.
Sample mapping:

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5. In the Import Assistant Step 5 - Save Mapping and Start Import screen:
a. Enter an Import Map Name and Description.
b. Click Save & Run.

The Lease record contains the following subtabs:

■ Posting Reference Subtab

■ Accounting Books Subtab
■ Lease Amortization Schedule Subtab

Posting Reference Subtab

From the Posting Reference subtab, you can set the accounts used to track the right-of-use asset, lease
liability, and interest expense. The subtab displays the following fields:

■ Right-of-Use Asset – Select the account that will be used to track the right-of-use asset.
■ Lease Liability – Select the account that will be used to track the lease liability.
■ Interest Expense – Select the account that will be used to track the interest expense.

Accounting Books Subtab

For Multibook-enabled accounts, this subtab shows information about the base currency of the
associated secondary books. These values will be carried over to generated lease journal entries.

Lease Amortization Schedule Subtab

The Lease Amortization Schedule subtab contains information about the lease payments, interest, and
related journals for this lease. The subtab displays the following columns:

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■ Date – Shows the date of the lease payments.

■ Lease Payments – Shows the lease payments amount.
■ Net Present Value – Depending on the rental frequency, this value is computed using the following
formula:
□ For annual rentals: NPV = lease payment / (1+annual interest rate) ^ period
□ For monthly rentals: NPV = lease payment / (1+(annual interest rate / 12)) ^ period
■ Balance – This value is computed by subtracting the principal from the previous balance. The initial
balance is equal to the total net present value.
■ Interest – This value is computed by multiplying the interest rate with the previous balance. The
computation will vary depending on the rental frequency:
□ For annual rentals: Interest = interest rate * previous balance
□ For monthly rentals: Interest = (interest rate * previous balance)/12
■ Principal – This value is computed by subtracting the interest from the lease payments.
■ Journal – This column shows the link to the journal for each lnterest lease payment.

At the end of the schedule, the rounding off difference will be applied to the principal. The computation is
as follows:

■ Principal Amount = Previous Balance

■ Interest Amount = Payment Amount – Principal Amount
■ Balance = Previous Balance – Principal Amount

Adding Lease Payments

You can add your lease payments through the Lease Amortization Schedule subtab or through CSV
import. From the Lease Amortization subtab, you can enter lease payments one at a time on the Payment
sublist. You can also enter up to 120 payments at once using the Generate Payments button.

To add lease payments through the Lease Amortization Schedule subtab:

1. Go to Fixed Assets > Leases > Lease > New.
2. On the Lease page, click Edit next to Lease record for which you want to add a lease payment.

Note: You can enter lease payments upon creation of a lease record. If you have an
existing lease record without lease payments or incomplete lease payments, you can enter
the payments one at a time.

3. Click the Lease Amortization Schedule subtab on the Lease record:

■ To enter up to 120 payments at once:
1. In the Start Date field, enter the start date for the payments that will be generated.
2. In the Amount field, enter the fixed amount for the payments that will be generated.
3. Click Generate Payments.

Note: The Generate Payments button is available when you create a new
lease or when you enter lease payments on modified lease records.

■ To enter lease payments one at a time:

1. In the Date column, enter the lease payment date.

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2. In the Amount column, enter the lease payment amount.

3. Click Add.

Note: If the first lease payment date falls on or before the 15th of the month, no interest
will be computed. and the principal amount will be equal to the lease payment amount.

4. Click Save.
The net present value, balance, interest, and principal will be computed when the lease payment is
saved.

Adding or Updating Lease Payments through CSV Import

You can add or update lease payments to add the interest journals through CSV import. To do so, you
must perform the following steps:

■ Creating a Saved Search for the Lease Payments

■ Adding Interest Journals to the CSV File
■ Importing Lease Payments

Important: If you created a lease record through lease migration, you must update lease
payments first before you can finalize the migration.

CSV Import Guidelines

Before importing your lease payments, take note of the following import guidelines:

■ A Lease record must be created first, before you can add lease payments through CSV import.
■ Make sure your CSV file contains the following columns: Lease Payments, Date, Lease.
■ When you are entering your data to the CSV file, make sure that you use the Internal ID of the lease
record in the Lease column.
■ The Lease Payment Date should be unique and should fall within the lease start and end dates.
■ Lease Payments should not be a negative value.
■ Amortization schedules will not be created automatically when lease payments are imported.

Creating a Saved Search for the Lease Payments

To create a saved search for lease payments:
1. Go to Transactions > Management > Saved Searches > New.
2. On the New Saved Searches page, click Lease Payments.
3. On the Saved Lease Payments Search page, enter a title for your saved search.
4. On the Criteria subtab, select Leases as a filter.
5. On the popup window that appears, click the lease record that you have migrated, and then click
Set.
6. On the Results subtab, under the Columns subtab, remove the Script ID field, and then add the
following:
■ Internal ID

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■ Leases
■ Date
7. Click Save & Run.
8. Click the Export – CSV icon to export your search to a CSV file.

Adding Interest Journals to the CSV File

To add the interest journals to the CSV file:

1. On your computer, open the CSV file of the lease payments saved search.
2. Add a Journal column next to the Date column.
3. In the Journal column, enter the Journal ID that correspond to the date of the lease payments on
the CSV file.

Note: You must add journal IDs only up to the date where you have an interest journal
generated.

4. Save the file as CSV.

Importing Lease Payments

To import lease payments:

1. Go to Setup > Import/Export > Import CSV Records.
2. In the Import Assistant Step 1 – Scan & Upload CSV File screen:
a. From the Import Type list, select Custom Records.
b. From the Record Type list, select Lease Payments.
c. Select the lease payments CSV file.
d. Click Next.
3. In the Import Assistant Step 2 – Import Options screen:
a. Set Data Handling to any of the following:
■ Add — If you are adding lease payments for a new lease asset.
■ Update — If you are updating lease payments for an existing lease asset.

Note: If you have an existing

b. Click Next.
4. On the Import Assistant Step 3 – Field Mapping screen:
a. Map the fields in your CSV file to the following NetSuite fields:

b. Click the pencil icon next to Journal to show the Default Value or Reference Type popup.

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 Adding Lease Payments 106

c. In the Choose Reference Type dropdown, select Internal ID, and then click Done.
d. When you are finished, review the CSV and NetSuite fields to verify that all desired fields are
mapped, and then click Next.
5. On the Import Assistant Step 5 – Save Mapping and Start Import screen:
a. Enter an Import Map Name and Description.
b. Click Save & Run.

Generating the Lease Amortization Schedule

The Lease Amortization Schedule is the schedule of the net present value and interest for the lease. You
can generate a lease amortization schedule if you have previously entered lease payments for the Lease
record. The status of the Lease record should show Pending Lease Schedules if there are no schedules
created yet.

To generate the lease amortization schedule:

1. Go to Fixed Assets > Lease Management.

2. Select the Lease record for which you want to generate a Lease Amortization Schedule.
3. Click the Generate Schedules button at the top of the page.
The system will compute for the Net Present Value, Interest, and Principal.

Creating Lease Journal Entries

When the interest schedules for the lease record have been generated, the Create Lease Journal button
will be visible on the Lease record. This button will only be available if no journal entry has been created
for the lease record.

This process will debit to the Right-of-use asset and credit to the Lease Liability. The generated lease
journal will be used to propose and create a leased asset. The leased asset will also go through the whole
asset life cycle.

To create a lease journal entry:

1. Go to Fixed Assets > Leases > Lease.

2. Select the Lease record for which you want to generate a journal entry.
3. On the Lease page, click Create Lease Journal.

The journal entry will be created and a link to the journal entry will be available in the Journal field on the
Lease record.

Recording Lease Interest

The Record Lease Interest page lets you recognize the interest amount per period. The interest amount is
taken from the lease amortization schedule of the lease record. A link to the associated Lease record will
be available in the Interest journal.

To utilize this feature, you must create the set up additional GL accounts. For more information, see
Setting Up General Ledger Accounts for Lease Accounting

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To record the interest incurred on your leased assets:

1. Go to Fixed Assets > Lease Management > Record Lease Interest.
2. Provide values for the following fields:
■ Date – Enter a date for the lease payments.
■ Subsidiaries – Select the subsidiaries of the leased assets.
3. Click Record Interest.

Note: You can record interest only for Lease records with an Asset Created status.

The system will create an interest journal for all lease payments without a lease interest, dated on or
before the date entered. A link to the interest journal entry will be available in the Lease Amortization
Schedule subtab in the Lease record.

The interest journal lines will be as follows:

■ For finance Lease:

□ Debit to Interest Expense
□ Credit to Lease Liability
■ For operating lease:
□ Debit to Accumulated Depreciation – Right-Of-Use Asset
□ Credit to Lease Liability

Note: The GL accounts used in the interest journal is sourced from the accounts that you set in
the Posting Reference subtab of the Lease record. The journal created is automatically approved
if it is created by a user with permission to approve journals or if Require Approvals on Journal
Entries is disabled. The journal will be set to pending approval if the preference is enabled and will
be create by the user without journal approval permission.

Asset Proposal and Generation

If an asset is generated from a lease record, the Asset is Leased box on the asset record will
automatically be checked. The Lease subtab on the Asset Record will contain information about the lease,
and a link to the lease record. For more information about generating an asset from a proposal, see Asset
Proposal and Generation.

The lease information from the lease record will be carried over to the Lease tab of the asset record. The
Lease tab will show the following information:

■ Lease record link

■ Lease Company
■ Lease Contract Number
■ Lease start and end dates
■ Finance Lease checkbox
■ Rental Frequency
■ Lease Term
■ Annual Interest Rate

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Note: Existing Lease fields will not be used and will be set to deprecated.

Migrating Existing Lease Details

With the introduction of the Lease Accounting feature, the existing lease details in the asset record (Lease
subtab > Deprecated subtab) will no longer be used. The lease details of all newly-created lease assets
will be available in the Lease subtab under the Lease subtab. You can migrate lease details to create a
Lease record for the existing lease assets.

To migrate existing lease details:

1. Go to Fixed Assets > Lists > Assets.
2. Click the Deprecated subtab under the Lease subtab, and then click the Migrate Lease Details
link.

Note: The Migrate Lease Details link is available only if the asset is subject to a finance
lease.

The following values are taken from the asset record:

■ Original Cost = Net Present Value
■ Asset Lifetime = Lease Term
■ Depreciation Start Date = Lease Start Date
■ Interest Rate (Deprecated) = Annual Interest Rate
3. Click Save to save the lease record.
4. After saving the migrated lease record, you must add existing interest journals through CSV
import. See Adding or Updating Lease Payments through CSV Import.
5. After updating the interest journals for the lease asset, click Finalize Migration on the Lease page.
When the lease migration has been finalized, the status of the proposal record will be changed to
Asset Created.
After finalizing the migration, interest journals for pending payments will be generated when you
Recognize Lease Interest.

Modifying Lease Records

Important: To modify lease records, make sure that the Allow Lease
Modifications preference is enabled in the FAM System Setup page. For more information, see
Setting Up the Fixed Assets Management System.

Modifying lease records allows you to make changes to the original terms and conditions of the lease.
The Modify Lease Record button will be available on Lease records with associated assets, if the Asset
Lifetime is equal to the Lease Term and the Depreciation Period is equal to the Rental Frequency.

A Lease Contract record will be generated every time you create a new lease or modify an existing
lease. The Lease Contract record contains the lease details and links to the Lease record and the
Journal.

You can also modify leases from the Lease Modification page.

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To modify lease records:

1. Go to Fixed Assets > Leases > Lease Modifications.
2. On the Lease Modifications page, provide the following fields:
Primary Information:
■ Lease – Select the lease record that you want to modify.

Note: You can modify lease records with associated assets, if the asset life is equal to
the Lease Term and its depreciation period is equal to the Rental Frequency. If you want
to modify a lease record after a journal has already been created, you must first reverse
the lease journal. For more information, see Reversing a Lease Journal.

■ Effective Date – Set the date when the lease modification is approved by both the lessee and
the lessor.
Lease Modification Details:
■ Modified Lease Term – Enter the new term of the lease.
■ Modified Annual Interest Rate – Enter the new implicit rate of the lease.
■ Modified Lease End Date – The modified lease end date is automatically computed based on
the modified lease term and start date.
3. Click Process to update your lease records.

Asset adjustment will be applied to the accounting method only. You can manually adjust the tax methods
through asset revaluation. For more information, see Revaluation of an Asset.

The Lease record status will be updated to Pending Process and a link to the Process Status page
will be displayed. The Process Status page shows the Deactivate Payment process. This process sets
the payment records associated with the modified lease record where the payment date is greater than
or the same as the effective date, or inactive.

The following processes will be triggered when you apply the modifications to your lease:

■ A lease modification journal entry will be created to record the adjustments to the Lease Liability and
Right-of-Use Asset accounts.
■ A reversal interest journal entry will be recorded to reverse the interest expense recorded to lease
payments after the effective date of modification
■ The lease modification journal entry will be associated to the newly created Lease Modification DHR.
The Asset Current Cost and Net Book Value will then be updated.

Note: It is recommended for you to use Straight Line Remaining Depreciation Method,
since the depreciation after modification should be computed based on the current net
book value or remaining life. If you use other depreciation methods, for example, Straight
Line method, the depreciation after modification will be computed as Current Cost divided by
the Asset Life.

Viewing Lease Modification Details

If you have modified your lease, the Lease Modification subtab will be available on the Lease record. You
can view the modified terms of the lease from this Lease Modification subtab.

To view the lease modification details:

1. Go to Fixed Assets > Leases > Lease.

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 Modifying Lease Records 110

2. Select the lease record that you want to view.

3. On the Lease page, click the Lease Modification subtab. The following information is available in the
Lease Modification subtab:
■ Contract ID — This columns shows a link to the Contract record.

Note: You cannot edit the Contract record. The Lease Payments subtab on the
Contract record will show the amortization schedule of the contract, total lease
payments, total NPV, total lease liability, total interest, and total principal.

■ Effective Date — This column shows the effective date of the lease modification. For the
original contract, the effective date is the same as the lease start date.
■ Journal ID — This column shows a link to the journal record.
■ Annual Interest Rate — This column shows the modified implicit rate of the lease.
■ Term — This column shows the modified lease term.
■ End Date — This column shows the modified end date for the lease.

Reversing a Lease Journal

Reversing a lease journal allows you to modify lease records that already have an associated journal
record. This process will reverse the original lease journal and unset the journal from the lease record.
You can then make changes to the lease record and create a new lease journal.

To reverse a lease journal:

1. Go to Fixed Assets > Leases > Lease.
2. On the Leases page, select the Lease record that you want to modify.
3. On the Lease record page, click Reverse Journal.
After reversing the original lease journal, the status of the lease will revert to Pending Lease Journal
Creation.

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Fixed Asset Error Recovery Script

You may sometimes encounter system errors during a depreciation run. The cause of the error and the
specific process where the error occurred—these details are available in the Process Status page. For
more information, see Asset Depreciation and Background Processing of Fixed Assets Assets.

Modifying the Script Deployment to Create Summary

Records
If an error was caused by missing summary records, you can modify a script to create the summary
records.

To modify the script deployment:

1. Go to Customization > Scripting > Scripts.
2. In the Filters pane, set the Type to Scheduled.
3. Click the View link next to FAM Trigger Error Handling SS.
4. On the Script page, click the Deployments subtab, and then click FAM Trigger Error Handling SS
to view the deployment record.
5. On the Script Deployment page, click Edit.
6. Click the Parameters subtab, and then set Type to Check Summaries.
7. Click Save and Execute.

Modifying the Script Deployment to Update Asset Values

If an error occurred on the fourth stage of Asset Depreciation (Update Asset Records), you can modify
and run the recovery script to update the asset values.

To modify the script deployment:

1. Go to Customization > Scripting > Scripts.
2. In the Filters pane, set the Type to Scheduled.
3. Click the View link next to FAM Trigger Error Handling SS.
4. On the Script page, click the Deployments subtab, and then click FAM Trigger Error Handling SS
to view the deployment record.
5. On the Script Deployment page, click Edit.
6. Click the Parameters subtab, and then set Type to Asset Update
7. Click Save and Execute.

Related Topics

■ Fixed Assets Management Overview

■ Fixed Assets Management SuiteApp
■ Depreciation Methods
■ Managing Assets
■ Asset Depreciation

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■ Group Tax Depreciation

■ Background Processing of Fixed Assets

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Fixed Assets Saved Searches

The Fixed Assets Management SuiteApp provides the following saved searches that you can customize
and export. These are available at Fixed Assets > Searches.

Note: To customize a saved search, open the saved search from Fixed Assets > Searches, and
then click Edit this Search.

For more information about Saved Searches, see the help topic Saved Searches.

■ Additions – Shows new asset purchases.

■ Disposals – Shows assets that are disposed, sold, and written off.
■ Asset List – Shows the Net Book Value for each asset for a specified date.
■ Asset Register – Shows the Net Book Value for a specified date, but with different columns.
■ Proposal History – Shows the asset proposal activity.
■ Inspections Due – Shows the assets with maintenance schedules and their inspection due dates.
■ Insurance Renewals Due – Shows the assets with insurance renewal due dates.
■ Expiring Leased Assets – Shows the expiry dates of leased assets.

Lease Accounting Reports

The following saved searches are available for Lease Accounting:

■ Lease Liability Detail Report — This report shows details about the lease liability. You can filter the
reporting period based on the lease start date, accounting book, or subsidiary. The report shows the
current period by default, but the user can define the date range.
The following information is available in the lease liability detail report:
□ Lease Start Date
□ Number (Document Number)
□ Transaction
□ Lease Liability Account
□ Lease Company
□ Total Lease Liability
□ Total Interest
■ Right-of-Use Asset Listing Report — This report shows a list of all leased assets. You can filter the
report to show assets under an operating or finance lease.
The following information is available in the right-of-use asset listing report:
□ ID
□ Asset Name
□ Lease Start Date
□ Lease End Date
□ Lease Term
□ Total Net Present Value
□ Total Lease Payments

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 Lease Accounting Reports 114

□ Finance Lease
■ Short Term Lease Liability Report — This report shows details for short term lease liability, which is
the sum of the principal amount for the current fiscal year.
The report shows active leases with the following information for the current fiscal year:
□ Lease Liability Account
□ Lease Company (Vendor)
□ Asset
□ Sum of Liability (Principal)
■ Long Term Lease Liability Report — This report shows the details for long term lease liability, which
is the sum of the principal amount on or after the start of the next fiscal year.
The report shows active leases with the following information for the next fiscal year:
□ Lease Liability Account
□ Lease Company
□ Asset
□ Principal

When customizing FAM saved searches or creating a custom search for FAM records, make sure the
following fields are sourced from the Asset Values record:

■ Current Net Book Value

■ Last Depreciation Period
■ Last Depreciation Date

Check the Results tab on your custom saved search to ensure that the fields are sourced from the correct
record. Otherwise, your saved search may return values that are not accurate.

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Asset Reports
The Fixed Assets Management SuiteApp provides several reports that offer comprehensive reporting
across assets, valuation and depreciation. With these reports, you can report on assets across locations,
subsidiaries, asset types, and more.

Report values are arranged per subsidiary and accounting book. Within a subsidiary and accounting book
combination, the values are further organized per asset type.

Important: Scripts triggered through script deployment does not have a corresponding FAM
process record. The FAM process record is a required parameter for FAM scripts, and without it,
the script will fail. Whenever possible, you should use the appropriate user interface for running
or generating FAM transactions and reports. The FAM process record is automatically created
when scripts are triggered through the appropriate user interface.

Asset Register Report

This report lists cost, accumulated depreciation, and net book value for each asset between the periods
selected. Depreciation history records with blank Accounting Book fields are assumed to be DHRs for the
Primary Book. In the asset register report, these DHRs will be displayed under the Primary Book.

The following information is available in the asset register report:

■ Asset Type — This shows the class or type where the asset belongs to.
■ ID — This shows the asset ID.
■ Name — This shows the name of the asset record.
■ Depreciation Start Date — This shows the date when the asset depreciation started.
■ Asset Life — This shows the life of the asset.
■ Beginning Balance — This shows the balance of all assets before the report date. This column
contains the following information:
□ Beginning Cost — This shows the acquisition amount of the asset before the report start date
□ Beginning Depreciation — This shows the asset’s accumulated depreciation before the report
start date.
□ Beginning Net Book Value — This shows the asset’s net book value before the report start date.
■ Acquisitions — This shows the cost of all assets acquired within the report period.

Note: If the asset was transferred to another class, department, or location, the Acquisition
column will show the asset cost and the transferred amount.

■ Transfer — This shows the current cost of the asset that was transferred.
■ Sale — This shows the amount of assets disposed through sale during the report period.
■ Disposals — This shows the amount of assets written off during the report period.
■ Depreciation — This shows the amount of accumulated depreciation within the report period.
■ Revaluation — This shows the amount of adjustment done to the asset because of the revaluation.
■ Write Down — This shows the asset’s write down amount.
■ Lease — This shows the lease adjustment amount. The previous period lease adjustment is
considered in the computation of the cost beginning balance.
■ Net Book Value — This shows the net book value of the asset at the end of the report period.

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 Asset Reports 116

Asset Summary Report

This report lists cost or valuation, depreciation, and net book value totals for the selected asset types and
the specified period. Depreciation history records with blank Accounting Book fields are assumed to be
DHRs for the Primary Book. In the asset summary report, these DHRs will be displayed under the Primary
Book.
The report is divided into the following three sections:

■ The Cost section will include the following information:

□ Beginning Balance — This shows the balance of the asset types at the start of the report period.
□ Additions — This shows the cost of all new assets acquired during the report period.
□ Sale — This shows the amount of assets disposed through sale during the reporting period.
□ Disposal — This shows the amount of assets written off during the reporting period.
□ Revaluation — This shows the write off amount.
□ Ending Balance — This shows the balance of the asset types at the end of the report period.
■ The Depreciation section will include the following information:
□ Beginning Balance — This shows the balance of depreciation of the asset types at the start of the
report period.
□ Additions — This shows the depreciation within the report period.
□ Sale — This shows the amount of assets disposed through sale during the reporting period.
□ Disposal — This shows the amount of assets written off during the reporting period.
□ Revaluation — This shows the depreciation adjustment.
□ Ending Balance — This shows the total depreciation of the asset types at the end of the report
period.
■ The Net Book Value section will include the following information:
□ Beginning Balance — This shows the net book value of the asset at the start of the report period.
□ Ending Balance — This shows the net book value of the asset at the end of the report period.
This can be computed as Asset Cost (ending balance) – Depreciation Ending Balance = NBV Ending
Balance.
■ The Total NBV section will include the following information:
□ Additions — This shows the additional asset acquisition and depreciation within the report period.
□ Sale — This shows the total sales adjustments within the report period.
□ Disposals — This shows the total write-off adjustments within the report period.
□ Revaluation — This shows the total revaluation adjustments within the report period. This is
calculated as the sum of the write-down amount and depreciation adjustments.
□ Lease — This shows the lease adjustment amount.

Depreciation Schedule Report (Net Book Value and Period

Depreciation)
The depreciation schedule net book value report shows the current value of the asset for the specified
period. The depreciation schedule period depreciation report shows the total depreciation of each asset
for the specified period. Depreciation history records with blank Accounting Book fields are assumed to
be DHRs for the Primary Book. In the depreciation schedule report, these DHRs will be displayed under
the Primary Book.
The following information is available in the depreciation schedule report:

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Note: To view forecast amounts for depreciation, you can generate an asset depreciation
schedule report for future periods.

■ Asset Type — This shows the class or the asset type of the asset.
■ ID — This shows the asset ID.
■ Name — This shows the name of the asset.
■ Asset Life — This shows the life of the asset.
■ Depreciation Method — This shows the asset’s depreciation method.
■ Periods — This shows the depreciation period of the asset. Maximum period is 12 months. For report
periods that exceeds 12 months, the succeeding months are presented in the following pages.

Important: If the Subsidiary does not have an amount for the specified report period, it will be
listed in the Subsidiary with zero value section of the report.

Depreciation Monthly Report

The depreciation monthly report shows the depreciation expense for the period by asset, the asset
records, and journal entries. Depreciation history records with blank Accounting Book fields are assumed
to be DHRs for the Primary Book. In the depreciation monthly report, these DHRs will be displayed under
the Primary Book.
The following information is available in the depreciation monthly report:

■ Date — Shows the last depreciation date of the asset.

■ Asset ID — Shows the asset ID.
■ Asset Name — Shows the name of the asset.
■ Posting Reference — Shows the journal entry information.
■ Transaction Amount — Shows the depreciation amount.

Asset Listing Report (Anlagenspiegel)

The Asset Listing report shows the total acquisition or production costs, additions, disposals, transfers,
and write-ups for the fiscal year. It is an annual report, and by default, is set to the current year.
Customers, however, may also run the report monthly or quarterly.
The Asset Listing report uses the format for Germany’s consolidated financial statements, in accordance
with the German Commercial Code. This report is targeted for German accounts and subsidiaries, and
available to users with Austria and Switzerland accounts.
The following information is available in the Asset Listing report:

■ Asset Record (Anlageposten) – Shows the asset name

■ Asset ID (Anlagen-ID) – Shows the asset ID
■ Asset Type (Anlagentyp ) – Shows the class or type where the asset belongs to
■ Opening Balance – Cost (Gesammtte AK/HK) – Show the beginning balance at the start of the report
period
■ Acquisition (Zugaenge) – Shows new acquisitions for the selected period
■ Disposals (Abgaenge) – Shows disposals for the current year
■ Transfer (Umbuchungen) – Shows the adjustments, including WiP to activated assets and
interdepartmental transactions
■ Revaluation (Zuschreibungen) – Shows the revaluation

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■ Accumulated Depreciation (Abschreibungen Kumuliert) – Shows the accumulated depreciation or

YTD depreciation
■ Net Book Value (Buchwert Abschlussjahre) – Shows the NBV of the current financial year
■ NBV Previous Years (Buchwert Vorjahre) – Shows the NBV of the previous financial year
■ Depreciation (Abschreibung Abschlussjahre) – Shows the current financial year depreciation

Schedule 16 Reports
Schedule 16 reports are supplemental documents used to calculate corporate tax and are available to
Japanese account and accounts with a Japanese subsidiary. The Schedule 16 reports will only include
posting DHRs. Assets with an asset life of 1 or more than 50 are excluded from these reports. The
following Schedule 16 reports are available:

■ Schedule 16 (1) - This report includes assets, leased assets, disposed and fully depreciated assets that
use the Japan Straight-Line depreciation method. This report does not include leased assets that use
the straight line depreciation method, and assets where the Depreciation Active is false.
■ Schedule 16 (2) - This report includes assets, leased assets, disposed and fully depreciated assets that
use the Japan 200% Declining Balance and Japan 250% Declining Balance depreciation methods. This
report does not include leased assets that use the old declining balance method, and assets where the
Depreciation Active is false.
■ Schedule 16 (4) — This report includes all leased assets, disposed and fully depreciated assets that
use the standard Straight Line depreciation method. This report does not include leased assets that
uses the Japan Straight Line and Japan Declining Balance depreciation methods, and assets where the
Depreciation Active is false.

Generating Asset Reports

The fixed asset reporting tool uses the Advanced PDF format. This enables you to print the report or
to view and download it in CSV (for Depreciation Schedule Report), PDF, or XML format. To generate
the fixed asset reports, you must enable the Advanced PDF/HTML Templates feature from Setup >
Company > Enable Features > SuiteCloud.
Asset reports that you generated can also be exported to an Excel file. For more information, see
Exporting Asset Reports to an Excel File.

Note: Fixed Assets Management does not currently support Depreciation Schedule Reports for
assets with negative costs. For more information, see Setting Up the Fixed Assets Management
System.

Important: You need to update depreciation history records for asset transfers with a ‘Sale or
Disposal’ transaction type and a blank asset disposal type. The transaction type must be set to
‘Acquisition’ and the transaction amount must be set to a negative value. On fixed asset reports,
asset transfers will be shown as an Acquisition with a negative value.

To generate fixed asset reports:

1. Go to Fixed Assets > Reports > Generate Reports.
2. Provide values for the following fields:
■ Report Type — Select the type of report you want to generate.
□ Asset Register — This report lists cost, accumulated depreciation, and net book value for
each asset between the periods selected.

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Note: For Fixed Assets Management version 4.01.2 and later, two types of
depreciation history records (DHR) will be generated for disposals— a ‘Sale’ DHR for
assets disposed by sale, and a ‘Disposal’ DHR for assets disposed by write-off. On the
Asset Register saved search, columns for SALE and DISP will be added.

□ Asset Summary — This report lists cost or valuation, depreciation, and net book value totals
for the selected asset types and specified period.
□ Depreciation Schedule Net Book Value — This report shows the current value of each
asset for the period.
□ Depreciation Schedule Period Depreciation — This report shows the total depreciation of
each asset for the period.

Note: To view forecast amounts for depreciation, you can generate an asset
depreciation schedule report for future periods.

□ Depreciation Monthly Report — Shows the depreciation expense for the period by asset,
the asset records, and journal entries.
□ Asset Listing Report — Shows the total acquisition or production costs, additions,
disposals, transfers, and write-ups for the fiscal year. This report is targeted for German
accounts and subsidiaries, and available to users with Austria and Switzerland accounts.
□ Schedule 16 (1) - This report shows assets, leased assets, disposed and fully depreciated
assets that use the Japan straight line depreciation method.
□ Schedule 16 (2) - This report shows assets, leased assets, disposed and fully depreciated
assets that use the Japan 200% declining balance and Japan 250% declining balance
depreciation method.
□ Schedule 16 (4) — This report includes all leased assets, disposed and fully depreciated
assets that use the standard Straight Line depreciation method.
■ Show Components in Reports — Check this box if you want to view only the components on
the report. Otherwise, clear this box to view only the parent compound asset on the report.

Note: This option is available only when you are generating an Asset Register Report
or Asset Listing Report.

■ Save Report as CSV — Check this box to save the generated report as a CSV file. When the
setting is enabled, no XML or PDF output will be available.

Note: This option is available only when you are generating a Depreciation Schedule
Report or Depreciation Monthly Report.

■ Start Date — Enter or select a start date for the report period you want to generate.
■ End Date — Enter or select an end date for the report period you want to generate.
■ Assets to Include — Select which of the following assets to include in the report: All Assets, All
Assets Except Leased, or Leased Only.

Note: If you selected Depreciation Monthly report, this field will be set to All Assets.

■ Alternate Depreciation — Select the depreciation method.

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Note: If you select Accounting Method, the Accounting Book filter will be set to
Primary Accounting Book, and Books to Include will be set to GL Posting. This is true
for all reports, except the Depreciation Monthly report.

■ Asset Types — Select one or more asset types to categorize assets in the report. Note that
default values will be assigned to most of the asset configuration based on the asset type.
■ Subsidiary — Select the subsidiary or subsidiaries for which you want to generate a report.
This field is available only to OneWorld accounts.
■ Include Children — Check this box to include assets of the child subsidiaries in the report.
■ Accounting Books — Select the accounting book or books for which you want to generate a
report.

Note: This field is available only if the Multi-Book Accounting feature is enabled in
your account.

Selecting None will generate a report that contains the following information:
□ All depreciation history records for accounting methods and tax methods that were created
before the Multi-Book feature was enabled.
□ Tax methods that are not associated to an accounting book.
■ Books to Include — Select whether to include GL Posting, Non GL Posting, or Both books in
the report.

Note: If you select Depreciation Monthly Report, this option will be set to GL Posting.

■ Departments — Select a department if you want the report to only include assets associated
with a specific department.
This field is available only if the Departments feature is enabled in your account.
■ Class — Select a class if you want the report to only include assets associated with a specific
class.
This field is available only if the Classes feature is enabled in your account.
■ Location — Select a location if you want the report to only include assets associated with a
specific location.
This field is available only if the Locations feature is enabled in your account.
3. Click Generate.
You will be redirected to the Process Status page, where you can see the progress of the report.
From My Reports page (Fixed Assets > Reports > My Reports), you can view the generated report as
PDF or XML. When viewing the report as XML, make sure you open the report using an application
that can properly display XML files.

Important: The following will not be included in the report: (1) manually created assets
without depreciation history records and (2) assets disposed before or after the report
period.

To view a list of reports that you generated for the past 30 days, see Viewing Fixed Asset Reports.

Exporting Asset Reports to an Excel File

1. Go to My Reports page (Fixed Assets > Reports > My Reports).

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2. Right click the XML link for the report that you want to export to Excel, and then save it to your
computer.
3. Locate the downloaded XML report on your computer, and then open it using Excel.
You will be able to view the report and save it as an Excel file.

Note: You can configure some Web browsers to use Excel as the default program to open an
XML file.

Related Topics

■ Viewing Fixed Asset Reports

■ Background Processing of Fixed Assets

Customizing the Fixed Assets Report Template

The Fixed Assets Management SuiteApp lets you customize the default fixed assets report template to fit
your company’s requirements. You can customize the report templates through XML manipulation and
through the user interface. Please read the following topics to learn more:

■ Customizing the Fixed Assets Report Template through the User Interface
■ Customizing the Fixed Assets Report XML Template
■ Mapping Asset Values to FAM Reports

Customizing the Fixed Assets Report Template through the

User Interface
Starting with Fixed Assets Management v19.1, you can now customize the FAM report template through
the user interface. You can add fields from the asset and alternate depreciation record to the following
report templates:

■ Asset Register Report

■ Depreciation Monthly Report
■ Depreciation Schedule NBV Report
■ Depreciation Schedule PD Report
■ Asset Listing Report

To customize the report template:

1. Go to Fixed Assets > Reports > Customize Report Template.

2. Set values for the following fields:
■ Report Type - Select the report template that you want to customize.
■ Set as Preferred Template – Check this box if you want the system to use the custom template
to generate the report.
■ Paper Size - Set the default paper size for this report template.
■ Paper Orientation - Set the orientation for the report template.

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3. In the Customize Report sublist, click Add Column to add columns to the report template. Enter
the following information in the dialog that pops up:
a. Column Label – Enter the name of the column as it should appear in the report.
b. Show – Check this box to display the field in the generated report.
c. Source Record – Select the source record for the field that you want to add.
d. Source Field – Select the field that you want to add.
e. Click Save.
The same source field may be added to the report template multiple times. The new field
appears in the Customize Report sublist.
4. Click the View Column Information sublist to view all the columns that are included in the report
template.
5. Click Preview to see a sample report using your custom template.
The sample report will be downloaded to your computer as a PDF file. The report contains sample
data for each field or column.
6. Click Save to create your template.

Reverting to the Standard FAM Report Template

When you no longer want to use the custom template for FAM reports, you can opt to use the standard
FAM report template. Reverting to the standard template will remove all the customizations you applied
to the report template.

To revert to the standard report template:

1. Go to Fixed Assets > Reports > Customize Report Template.
2. On the Customize FAM Report Template page, select the report type that you want to change back
to the standard template.
3. Under the Customize Report Columns sublist, click Revert to Standard Template.
The system shows a preview of the standard report template. At this point, the changes are not yet
applied.
4. Click Save to make your changes permanent.

Customizing the Fixed Assets Report XML Template

Important: Basic knowledge in Freemarker and XML is required to customize the report
template.

You can download the default report template and customize it to add or remove fields on the asset
register and depreciation schedule report.

You can set the report template that you want to use to generate fixed assets report on the System Setup
page.

Read the following help topics to learn more about how you can customize the asset report template:

■ Supported Asset Fields

■ Downloading the Default Asset Report Templates
■ Adding a Placeholder for New Fields in the Asset Report

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■ Adding or Removing a Field from the Default Asset Report Template

■ Setting a Custom Template for Asset Reports

Supported Asset Fields

You can add or remove the following asset fields from the default report template:

Primary Information

■ Asset Description
■ Asset Serial Number
■ Alternate Asset Number
■ Parent Asset
■ Project (Job)
■ Accounting Method
■ Depreciation Period
■ Asset Lifetime Usage
■ Asset Status
■ Customer Location

General Tab

■ Department
■ Class
■ Location
■ Custodian
■ Physical Location
■ Purchase Date
■ Depreciation End Date
■ Last Depreciation Period
■ Last Depreciation Date
■ Target Depreciation Date
■ Depreciation Active
■ Depreciation Rules
■ Revision Rules
■ Manufacturer
■ Date of Manufacture
■ Supplier
■ Purchase Order
■ Parent Transaction
■ Prior Year NBV
■ Fiscal Year Start
■ Annual Method Entry

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Downloading the Default Asset Report Templates

To download the default asset report templates:
1. Go to Documents > Files > File Cabinet.
2. On the left navigation pane, click SuiteBundles > Bundle 266022 > src > resource.
3. From the resource folder, click the Download link for the report template that you want to
customize:
■ Asset Register Report – FAM_RegisterReport_Template.xml
■ Asset Summary Report – FAM_SummaryReport_Template.xml
■ Depreciation Schedule Report – FAM_ScheduleReport_Template.xml

To download the default asset report templates:

1. Go to Documents > Files > File Cabinet.
2. On the left navigation pane, click SuiteBundles > Bundle 266022 > src > resource.
3. From the resource folder, click the Download link for the report template that you want to
customize:
■ Asset Listing Report – FAM_ListingReport_Template.xml
■ Asset Register Report – FAM_RegisterReport_Template.xml
■ Asset Summary Report – FAM_SummaryReport_Template.xml
■ Depreciation Schedule Report – FAM_ScheduleReport_Template.xml
■ Depreciation Monthly Report – FAM_DeprMonthlyReport_Template.xml

To begin customizing the default asset report templates, perform the following steps in the order shown:

1. Adding a Placeholder for New Fields in the Asset Report

2. Adding or Removing a Field from the Default Asset Report Template
3. Setting a Custom Template for Asset Reports

Adding a Placeholder for New Fields in the Asset Report

The report line custom record links the asset record to the report. An entry in the custom record
represents a line item in the asset report. When you add a field to this custom record, you are creating a
placeholder for the asset value that you want to add to the report.

To add a field to the report line custom record:

1. Go to Customization > List, Records, & Fields > Record Types.

2. Click the corresponding report line record for the report template you want to customize.

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■ FAM Asset Register Rep Line – for Asset Register and Asset Listing report
■ FAM Depreciation Schedule Report Line – for Asset Depreciation Schedule report
■ FAM Depreciation Monthly Report Line – for Depreciation Monthly report
3. On the Custom Report Type page, click New Field on the Fields subtab.
4. On the FAM Asset Register Rep Line Field or the FAM Depreciation Schedule Report Line Field page,
provide values for the following fields:
■ Label – Enter the label of the new field that will appear on the report
■ ID – Enter a unique ID for the field. The ID will be used to add the field to the report template.
■ Type – Select a field type that is similar to the asset field you want to add. See the following
table for sample values:

Asset Field Type List/Record

Asset Description Free-Form Text

Accounting Method List/Record FAM Depreciation Method

Lifetime Usage Integer Number

Depreciation End Date Date

■ List/Record – If the Type selected is List/Record, select the corresponding list or record for the
asset field that you want to add.
■ Store Value – Check this box.
■ Show in List – Check this box.
5. On the Sourcing & Filtering subtab, provide values for the following fields:
■ Source List – Select Source Asset.

Important: To ensure that the field you are adding gets its value from the asset
record, the Source List must always be set to Source Asset.

■ Source From – Select the asset field to use as a value source for the new field.
For example, select Asset Status if you want the new field to display the status of the asset on the
report.
6. Click Save.
7. Repeat steps 3 to 6 to add more fields to the report line custom record.

Adding or Removing a Field from the Default Asset Report

Template
Note: It is recommended, but not limited, for you to use the following procedure to customize
the asset report templates.

To add or remove a field from the default report template:

1. Open the default asset report template that you want to modify.
2. Locate the asset loop part in the default template.
On the asset register template, this starts with <#list
report.recmachcustrecord_assetregister_repparent as line> and ends with its
corresponding </#list>.

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On the depreciation schedule template, this starts with <#list

report.recmachcustrecord_fam_schedrepline_parent as line> and ends with its
corresponding </#list>.

3. In Freemarker notation, add a new variable inside the asset loop of the default template. Insert a
‘line’ prefix to the ID of the new field.
For example, if the ID you defined in Step 1 is custrecord_ds_cust_asset_status, this would appear
in the template as: ${line.custrecord_ds_cust_asset_status}.

4. Add more variables depending on the number of fields that you want to add to your template.
5. If you want to remove a field from the report template, delete the variable that contains the ID of
the field.
6. Save your custom template.
To ensure that the system recognizes your custom template, make sure that you add the following
report name prefixes to the custom template filename:
■ FAM_AR – for asset register report template (e.g. FAM_AR_CustomTemplate.xml)
■ FAM_AS – for asset summary report template (e.g. FAM_AS_CustomTemplate.xml)
■ FAM_DS – for depreciation schedule report template (e.g. FAM_DS_CustomTemplate.xml)
■ FAM_DM — for Depreciation Monthly report template (eg. FAM_DM_CustomTemplate.xml)
■ FAM_AL — for Asset Listing report template (eg. FAM_AL_CustomTemplate.xml)
7. Upload your custom template to the file cabinet.

Mapping Asset Values to FAM Reports

When you customize your asset report templates, you must make sure that the Asset Values record is
updated accordingly. If you have included any of the following fields in your asset report template, you
must edit the report line to update the source values:

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■ Current Net Book Value

■ Last Depreciation Amount
■ Last Depreciation Date
■ Last Depreciation Period
■ Prior Year NBV

To change the values on the rep line of the depreciation monthly report:
1. Go to Customization > Lists, Records & Fields > Record Types.
2. On the Custom Record Type page, click FAM Depreciation Monthly Report Line.
3. On the Fields subtab, click the custom field added for any of the following:
■ Current Net Book Value
■ Last Depreciation Amount
■ Last Depreciation Date
■ Last Depreciation Period
■ Prior Year NBV
4. On the Sourcing & Filtering subtab, set the values for the following fields:
■ Source List — Select Source Asset Values.
■ Source From — Select the field to use as a value source.
5. Repeat Step 4 for each field mentioned above, if you have added them in FAM reports.

Setting a Custom Template for Asset Reports

To set a custom template for asset reports:
1. Go to Fixed Assets > Setup > System Setup.
2. On the Reports subtab, select a custom template for asset reports in any of the following fields:
■ Preferred Asset Register Template
■ Preferred Asset Summary Template
■ Preferred Depreciation Schedule NBV Template
■ Preferred Depreciation Schedule PD Template
■ Preferred Depreciation Monthly Template
■ Preferred Asset Listing Template

Note: Custom templates will only be available for selection in the corresponding fields if
you added a report name prefix to the custom template filename.

3. Leave the field blank to use the default report template.

4. Click Save.
The system will use your preferred templates when generating asset reports. For information on
generating asset reports, see Generating Asset Reports.

Viewing Fixed Asset Reports

You can view a list of the reports that you generated for the past 30 days from the My Reports page.

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To view fixed asset reports:

1. Go to Fixed Assets > Reports > My Reports.
The page displays the reports in reverse chronological order.
2. Click the Date Generated link to view or download the report.
3. If you have sufficient permission, you can click the Delete Report link next to the report you want
to delete.
4. If you are an account administrator, you can click Show All Reports to view all the reports you
generated on your account.

Note: This option is available when you enable the Allow Administrator to View All
Reports preference from Fixed Assets > Setup > System Setup.

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Background Processing of Fixed Assets

To optimize application and database servers, mechanisms have been implemented to govern the usage
of SuiteScript. SuiteScript thresholds are based on the volume of activity that a company's users can
manually generate, as well as a provision for automated functions.

This is why, in the Fixed Assets Management SuiteApp, processes for FAM transactions and report
generation are carried out in the background, and are controlled by scheduled server scripts and process
records.

processes (Asset Creation, Asset Proposal, Asset Generation, Asset Depreciation, Asset Revaluation, Asset
Disposal, Asset Split, Asset Transfer) (Asset Register Report, Asset Summary Report, and Depreciation
Schedule Report)

To view the status of a process, you can look at the FAM Process List.

Process Status Page

To view the status of a process, go to the Process Status page (Fixed Assets > Background Processing >
Status).

Note: The process status page displays the 20 most recent processes.

The following table describes each column on the Process Status page:

Column Description

Internal ID Click the internal ID to open the FAM process record, and view more details about the selected
process.

Process Name Identifies the process that was triggered.

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Column Description

Date Created Shows the date when the process was triggered.

Status Shows the current status of the process:

■ Queued – The process is Waiting for the process that is currently in progress to finish its run.
■ In Progress – The process is currently running. Only 1 process may be in progress at any time.
■ Deferred – The Generate Depreciation Schedule process, triggered by the precompute
scheduled script, may be deferred when another transaction is queued. The deferred process
will be resumed when no other process is queued.
■ Completed – The process was successfully completed, with no errors
■ Completed with Errors – The process was completed, but some errors were encountered. Click
the Error link to view information about the error that occurred.
■ Failed – The process was not completed. Click the Error link to view information about the error
that occurred.

Process Stage Identifies the specific stage of the process that is currently running. The process stage is visible only
when the process is currently running.

Details Click the Details link to view details about the specific stages in the process. For more information,
see Process Stage Details.

Errors Processes with a status of Failed or Completed with Errors are highlighted in red. You can click
the Error link to view details of the problem that occurred.

Process Stage Details

Column Description

# Indicates the total number of stages in the process as well as their order in the queue.

Process Stage Identifies the specific stages of the process.

Date Created Shows the date when the process stage was triggered.

Status Shows the current status of the process stage:

■ Not Required – The process stage was skipped.

■ Queued – The process stage is waiting for the in progress process to finish its run.
■ In Progress – The process stage is currently running. Only 1 process may be in progress at any
time.
■ Deferred – The Generate Depreciation Schedule process, triggered by the precompute
scheduled script, may be deferred when another process is queued. The deferred process will
be resumed when no other process is queued.

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Column Description
■ Completed – The process stage was successfully completed, with no errors
■ Completed with Errors – The process stage was completed, but some errors were
encountered. Click the Error link to view information about the error that occurred.
■ Failed – The process stage was not completed. Click the Error link to view information about the
error that occurred.

Start / End The start and end columns indicate the amount of time it took the process stage to complete its
run.

Message Shows the number of files or records that were created or updated by the process stage.

Errors The process stages with a status of Failed or Completed with Errors, are highlighted in red. You
can click the Error link to view details of the problem that occurred.

Note that when you are processing large volumes of data or records, you may see duplicate entries of the
same process.

Process List
You can see the status of a process by viewing the FAM Process record for that process in the FAM
Process List.

To view the process record:

1. Go to Fixed Assets > Background Processing > FAM Process List.
The current status of the background process is indicated by the message displayed in the Status
column.
2. Click the View link next to the required record to see more details about the message.

Scheduled Server Scripts for Controlling Asset Transactions

To view the status of any of the scheduled scripts controlling asset transactions, go to Setup >
Customization > Script Deployments > Status.

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Multi-Book Accounting for Fixed Assets

Management
The Multi-Book Accounting add-on to Fixed Assets Management lets you assign assets to multiple books.
The asset values will automatically be converted to the base currency of the book where the asset is
recorded.
Multi-Book Accounting for Fixed Assets Management provides the following features:

■ Parallel Currencies
With Parallel Currencies, each book in a subsidiary will have its own specific base currency. Parallel
currencies can be used for subsidiaries in different countries to update the foreign business
transactions in different currencies.
Fixed assets are recorded using the historical foreign currency rate. The initial conversion from the
transaction currency to the base currency will be done with different base currencies and exchange
rates. When an asset is acquired, its value in the subsidiary is recorded with the daily spot rate on the
acquisition date. Then, through the life cycle of this asset, all depreciation calculations will be based on
the base currency amount.
For example, your base currency is USD, you acquired an asset for GBP 100, and the daily rate on the
acquisition date is 1.5USD or GBP. With Parallel Currencies, the asset value will be recorded as USD
150. If the subsidiary has a secondary book that uses a different base currency, the original value from
the asset acquisition will be converted to the secondary book’s base currency as well.

■ Record Assets in Multiple Books

Multi-Book Accounting lets you assign an asset to multiple depreciation books that generate journal
entries for different general ledger set of books or to the same set of books. Each book can have an
unlimited number of depreciation methods per asset record.

Read the following topics for more information on Multi-Book Accounting for Fixed Assets Management:

■ Getting Started with Multi-Book Accounting for Fixed Assets Management

■ Managing Assets in Multiple Books

Getting Started with Multi-Book Accounting for

Fixed Assets Management

Prerequisites for Fixed Assets Multi-Book Accounting

You must perform the following tasks before proceeding:

■ Enable the Multi-book Accounting feature. Contact your account representative or NetSuite
Professional Services to find out how to get Multi-Book Accounting.
■ Set up an accounting book. For more information, see the help topic Multi-Book Accounting Overview.

Roles and Permissions

If you are using a custom role with Multi-Book Accounting for Fixed Assets Management, you need to set
the Accounting Book permission to View. This enables custom roles to set up accounting books. For
more information, see the help topic Roles and Data Access for Multi-Book Accounting.

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Updating Historical Depreciation History Records

The asset register report groups the depreciation history records by accounting book. To include entries
without an accounting book in the asset register report, you must update your depreciation history
record through mass update or CSV import.

Note: When you enable Multi-Book Accounting for the first time in your account, all historical
depreciation journals are automatically updated to Primary Accounting Book.

To update historical depreciation history records through mass update:

1. Go to Lists > Mass Update > Mass Updates.

2. Expand General Updates, and then under Custom Records, click the FAM Depreciation History
link.
3. In the Criteria subtab, add the following filters:
■ Accounting Book - Set to None to update only the depreciation history records with blank
accounting books.
■ Alternate Method – Set to None to update only the depreciation history records for the
accounting method of the asset.
4. In the Mass Update Fields subtab, check the Accounting Book field and then set the value to
Primary Accounting Book.
5. Click Preview.
6. Click Perform Update.

To update historical depreciation history records through CSV import:

1. Prepare an import file by creating a saved search for depreciation history records.
a. Go to Lists > Search > Saved Searches > New.
b. On the New Saved Search page, click the FAM Depreciation History link.
c. In the Criteria subtab, add the following filters:
■ Accounting Book - Set to None to update only the depreciation history records with
blank accounting books.
■ Alternate Method – Set to None to update only the depreciation history records for the
accounting method of the asset.
d. Click Preview, and the export the search results to CSV. For more information, see the help
topic Exporting Search Results.
e. Modify the CSV file to add a column for Accounting Book, and then set the value to
Primary Accounting Book.
f. Save the CSV file.
2. Import CSV file for depreciation history record.
a. Go to Setup > Import/Export > Import CSV Records.
b. In the Import Assistant Step 1 – Scan & Upload CSV File screen:
■ From the Import Type list, select Custom Records.
■ From the Record Type list, select FAM Depreciation History.
■ Select the CSV file to upload.

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■ Click Next.
c. In the Import Assistant Step 2 – Import Options screen:
■ Set Data Handling to Update.
■ Click Next.
d. In Import Assistant Step 4 – Field Mapping screen:

Map the fields in your CSV file to the NetSuite fields. Review the CSV fields and NetSuite fields
to verify that all desired fields are mapped. Make sure that the Internal ID mapping type is
set to Internal ID.
e. In the Import Assistant Step 5 – Save Mapping and Start Import screen:
■ Enter an Import Map Name and Description.
■ Click Save & Run.

Managing Assets in Multiple Books

Defining Asset Accounts and Values for Multiple Books

General ledger accounts on the Accounts tab of the Asset Type record will store the primary book values.
For more information on defining asset accounts, refer to Accounts Subtab.

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The Accounts subtab in the FAM Default Alternate Depreciation tab will be used to store secondary book
general ledger accounts. You can associate existing FAM default alternate depreciation to an accounting
book by assigning a Book ID and populating other secondary book fields.

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Changes to saved default alternate depreciation are prospective. Existing assets using the old default
alternate depreciation will not be affected. You can override the alternate depreciation for default asset
types in the Tax Method subtab of the asset record. For more information, see Tax Methods Subtab.

The Other Methods subtab in the asset type and the Tax Methods subtab in the asset record will be
displayed only after you save the Asset Type record

Note: You can set different depreciation methods per accounting book. .

Linking Accounting Books to an Asset

You can associate new and depreciating assets to an accounting book. The Asset Original Cost, Current
Cost, Current Net Book Value, Prior Year NBV, and Cumulative Depreciation values will be converted to
the base currency of the book it is associated to. The depreciation amount will be computed based on the
converted amount.

Note that fully depreciated and disposed assets cannot be associated to an accounting book. For most
FAM records, you can only select secondary books in the Accounting Book field.

The Tax Method tab will be used to store secondary book values. The secondary book might use a
different base currency from the primary book. But, if both the primary and secondary books share the
same base currency, they will have the same default values. You can override these default values by
editing the asset record attached to the asset.

Note: When depreciating a tax method, the system will use the base currency of the accounting
book, not the currency of the asset’s subsidiary.

OneWorld accounts can set the book base currency in the Currencies tab of the Subsidiary record. For
more information, see the help topics Creating Subsidiary Records and Foreign Currency Management.

To associate an accounting book to an asset:

1. Go to Fixed Assets > Lists > Assets, and then click the Tax Methods subtab.
2. In the Tax Methods subtab, do one of the following:
■ If you want to create a new alternate depreciation, click New FAM Alternate Depreciation.
■ If you want to edit an existing alternate depreciation, click the Edit link next to the alternate
depreciation.
3. In the FAM Alternate Depreciation page, select the Accounting Book that you want to associate to
this alternate depreciation.
You can only associate active books to alternate methods. If an alternate depreciation is already
associated to an accounting book, you can no longer change the Accounting Book value.

Note: If you select a value for the Accounting Book field, the Currency field will be
sourced from the book base currency of the subsidiary. If the Accounting Book field is blank,
the Currency field will be sourced from the currency of the subsidiary’s primary book.

4. In the Alternate Method list, select the depreciation method to use. The system automatically
populates other values on the form. These values are sources from the Asset Type record.
Asset values on the form, such as Asset Cost and Net Book Value, will be sourced from the Asset
Record. This value will be converted to the base currency of the secondary book. Values under the

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General tab are sourced from the Asset Record and values on the Accounts subtab are sourced
from the Asset Type.
If the asset is already depreciating, you will not be able to edit the fields unless Allow Asset Value
Editing is enabled. For more information, see Restricting the Editing of Asset Values.
5. Click Save.

No journal entries will be created for depreciation history records that already exist or are not associated
to an accounting book.

The Accounting Book field will be populated for newly created depreciation history records. For existing
depreciation history records, the Accounting Book field may be shown as blank or null.

The acquisition history record will be automatically created when you have defined a depreciation start
date. The acquisition value will be based on the amount of the asset in the primary book multiplied by the
secondary book’s base currency exchange rate at depreciation start date.

If the asset is partially depreciated for the accounting method only, and a new tax method is added to an
accounting book, the system will create monthly depreciation history records with journal entries. If you
run a depreciation on closed periods, the system will post the journal entries to the next open period.

If the asset is partially depreciated for both accounting and tax methods, a new depreciation history will
be created based on the last depreciation date. No catch-up depreciation histories will be created. You will
need to manually create a book specific journal entry for the cumulative depreciation.

Asset Proposal
The Asset Proposal record contains values for the primary book. Values on the FAM Proposal Alt
Depreciation subtab will be sourced from the secondary book of the Asset Type.

You can override the default general ledger accounts or proposal values per book by editing the Asset
Proposal record. For more information, see Asset Proposal and Generation.

For more information on asset proposal, see Asset Proposal and Generation.

Running Depreciation on an Accounting Book

Depreciation computation and journal entry creation in Multi-Book Accounting for Fixed Assets
Management is done per book. You can select the book that you want to depreciate, and the resulting
journal entries created will use the Book Specific Journal Entry form.

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Note: A depreciation journal entry will not be created for depreciation history records that are
not linked to an accounting book. These records will be depreciated when you run a depreciation
for any book.

The Alternate Depreciation History subtab under the Tax Methods tab is combined with the Accounting
Method Depreciation History in the Depreciation History tab. The combined subtab is named
Depreciation History.

For more information on depreciating assets, see Asset Depreciation.

Transferring Fixed Assets Within Multi-Book Accounting

When you transfer assets within Multi-Book Accounting for Fixed Assets Management, the transferred
asset will be recorded in the currency of the destination subsidiary. The currency will automatically be
converted to reflect the book’s base currency. Asset Cost, Asset Current Cost, Cumulative Depreciation,
Net Book Value will be converted to the book specific base currency of the destination subsidiary.
Any Depreciation Journal Entry created after the transfer will use the book specific base currency of the
destination subsidiary. The corresponding journal entry will also be book specific.

Important: If the destination subsidiary does not belong to any book, no transfers will be
processed. For Tax Methods not linked to any book, the transfer will be recorded in the Primary
Book.

An asset transfer account is necessary to process a successful transfer. For more information, see Asset
Transfer Accounts.

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There will be no separate asset transfer process for secondary books. Secondary book asset transfers will
be recorded when assets are transferred in the primary book.

For more information on asset transfer, see Asset Transfer.

Revaluating an Asset in Multiple Books

For multi-book enabled accounts, the Accounting Book field is added to the asset revaluation page. This
lets you select which accounting books (associated to the asset) you want to revalue. A Calculate button
is also added on the page to compute the write-down amount and to enable the revaluation fields for the
selected accounting books.

To revalue an asset, follow the procedure in Revaluation of an Asset.

Disposing an Asset in Multiple Books

Upon disposal, the asset will be disposed in all associated accounting books. The accounting and tax
methods associated to the accounting books will create depreciation histories.

When disposing an asset by write-off, a journal entry is generated to write-off the tax methods that are
associated to accounting books. Disposing an asset by sale generates a book generic invoice that uses
the primary book’s residual value.

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To dispose an asset, follow the procedure in Asset Disposal by Sale or Write-Off.

Splitting an Asset in Multiple Books

You can perform one split transaction per asset to generate the general ledger results that will be
posted to different books. New assets created because of the split transaction will have the same set of
alternate and tax depreciation as the original asset. An acquisition history record is created to reduce the
amount of the original acquisition cost. A depreciation history record will also be created to reduce the
depreciation amount and a journal entry will be generated if the asset is attached to an accounting book
or tax method. Tax methods that are not associated to an accounting book will still record depreciation
history records, but will not generate journal entries.

To split an asset, follow the procedure in Asset Split.

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