Financial Management

Fixed Asset Management

Fixed Asset Management

Are you still using Excel spreadsheets for asset tracking and depreciation? Struggling to track and maintain a record of employee used equipment, or equipment that needs to be insured or regularly maintained?

NetSuite Fixed Asset Management provides you with an easy-to-manage single version of the truth for your assets. It enables you to maintain and control the complete asset lifecycle across depreciating or non-depreciating assets from creation to depreciation, revaluation and disposal. NetSuite Fixed Asset Management supports detailed asset management including maintenance schedules and insurance, while providing tight integration that creates accounting entries and fixed assets from purchases ensuring that no equipment slips through the cracks.

Benefits

  • Eliminate Excel spreadsheets and manual effort from the fixed asset management process
  • Manage the complete fixed asset lifecycle from acquisition to depreciation and disposal
  • Tightly weave your asset acquisition process into your accounting processes
  • Quickly report on all assets, current valuations, asset types and more.

Highlights

  • Asset Acquisition, Depreciation, Disposal and Revaluation

    • Easily track depreciating or non-depreciating company assets
    • Quickly create assets based on unlimited asset types and easily report on them
    • Non-depreciating asset tracking ensures ease of tracking employee-owned items
    • Maintain all relevant detail for assets, including insurance and maintenance schedules
    • Automated defaults enable asset creation, depreciation and eventual retirement with minimal effort.
  • Flexible Depreciation Management

    • Supports all standard depreciation methods, including, Straight Line, Fixed Declining, Sum of Years Digits, and by Asset Usage
    • Unlimited user-defined depreciation methods
    • "Chain" depreciation methods to support comprehensive asset valuations
    • Supports multiple depreciations per asset for both financial and reporting depreciations.
  • Complete Asset Process Accounting Automation

    • Depreciation postings and asset retirements posted directly to NetSuite accounts
    • Automates the entire process, including journal posting, bill posting, and PO billing posting.
  • Real-Time Asset Reporting

    • Comprehensive reporting across assets, valuation and depreciation
    • Slice and dice assets across locations, subsidiaries, asset types and much more.

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