ANS-1831 · ACCOUNTING & FINANCIAL CONFIGURATION
Why are NetSuite Fixed Assets not depreciating after import?
Imported NetSuite fixed assets require all relevant accounting periods to be configured for depreciation to process correctly.
Short answer
NetSuite fixed assets imported with a cutoff balance date will not depreciate if the accounting periods between that date and the current period are not fully configured. To resolve this, set up all missing accounting periods. This ensures the depreciation schedule can run completely and without errors.
Scenario
Clients importing fixed assets into NetSuite may encounter issues where these assets fail to depreciate as expected. This typically occurs when assets are uploaded with a specific cutoff balance date, such as September 2014, but the subsequent accounting periods (e.g., October and November 2014) have not been fully configured in the system. Attempting to process depreciation for these assets results in an error, indicating a gap in the required accounting period setup.
Solution
When fixed assets are imported into NetSuite with a specified cutoff balance date, all accounting periods between that cutoff date and the current period must be fully configured for depreciation to process correctly. If, for example, assets were uploaded with a September 2014 cutoff balance date, but only the December 2014 accounting period was initially set up, attempting to correct the last depreciation date to September 2014 will result in an error. This error occurs because the intervening accounting periods, such as October and November 2014, are not yet established in the system. To resolve this issue and enable proper depreciation, ensure that all missing accounting periods are created and properly configured in NetSuite.
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