Fixed Assets Management Enhancements in NetSuite 2024.1
Discover Fixed Assets Management enhancements in NetSuite 2024.1, including new report formats and custom CSV options.
Starting in NetSuite 2024.1, Fixed Assets Management (FAM) introduces key enhancements designed to improve reporting capabilities. These updates are crucial for businesses that rely on accurate asset management and depreciation reporting.
What's New?
4-4-5 Week Period Format in Depreciation Schedule Reports
NetSuite now supports a 4-4-5 week period format for depreciation scheduling. This enhancement allows finance teams to generate reports that reflect periods aligned with their accounting practices, making it easier to analyze asset performance over time.
Display Custom Columns in CSV Reports
Users can now customize their CSV reports by adding custom columns. This feature allows for more tailored financial reporting, enabling teams to include relevant data points that are essential for their unique business needs.
Who This Affects
- Finance Teams: Helps in creating more accurate and aligned asset depreciation schedules.
- Accountants: Can leverage the new CSV customization to include specific financial metrics in their reports.
- Administrators: Responsible for implementing and managing these enhancements within the FAM module.
Key Takeaways
- NetSuite 2024.1 introduces a 4-4-5 week format for improved depreciation reporting.
- Users can now add custom columns to CSV reports for enhanced data analysis.
- Enhancements focus on the needs of finance teams and accountants to streamline asset management processes.
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