ANS-0930 · ACCOUNTING & FINANCIAL CONFIGURATION
How to Generate Fixed Asset Proposals from Various NetSuite Transactions
Understand which NetSuite transaction types contribute to the Fixed Asset Proposal, ensuring proper asset tracking and accounting.
Short answer
NetSuite's Fixed Asset Proposal captures new assets created from specific transaction types such as Assembly Builds, Vendor Bills, Inventory Adjustments, and Journal entries. For an asset to be included, the transaction must impact the Fixed Asset GL accounts configured for the relevant Asset Types.
Scenario
Users often need to understand how new assets are identified and included in NetSuite's Fixed Asset Proposal. This process is crucial for accurately tracking capital expenditures and ensuring that all eligible assets are properly recorded for depreciation and reporting purposes.
Solution
New assets are captured in the Fixed Asset Proposal when they originate from specific transaction types and impact the designated Fixed Asset GL accounts. The following transaction types can create new assets that are included in the Fixed Asset Proposal: - Assembly Build - Vendor Bill - Inventory Adjustment - Inventory Transfer - Item Receipt - Journal - Credit Card - Expense Report Additionally, for a transaction to be captured, it must be hitting the Fixed Asset GL accounts maintained or related to the Asset Types configured in NetSuite.
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