Split Fully Depreciated Assets in NetSuite 2023.2

What's New in NetSuite 2023.2

Starting in NetSuite 2023.2, the Fixed Assets Management SuiteApp introduces a significant enhancement that allows users to split fully depreciated assets. This feature not only improves asset management efficiency but also facilitates more accurate asset record maintenance.

Key Features

• Asset Split Page Functionality: You can now select fully depreciated assets using the Asset Name/ID field on the Asset Split page, simplifying the process of asset management.
• Bulk Asset Split via CSV Import: NetSuite has enhanced the asset splitting process by introducing the ability to perform bulk splits. Users can import a CSV file containing details of multiple assets to create new asset records in a single transaction.

Using the Bulk Asset Split Feature

1. Navigate to the Asset Split page.
2. Click on the Import CSV button to access the Bulk Asset Split page.
3. Download the sample CSV file linked on the page.
4. Edit the sample file to include details of the assets you wish to split.
5. Upload the completed CSV file on the Bulk Asset Split page to execute the transaction.

This feature is a game-changer for organizations managing large volumes of fully depreciated assets, allowing for a streamlined workflow and reducing manual entry errors.

Who This Affects

This update primarily impacts:

• Administrators: Responsible for configuring and managing fixed asset records.
• Accountants: Who manage financial records and asset depreciation.
• Finance Teams: Involved in asset tracking and reporting.

Key Takeaways

• Ability to split fully depreciated assets is now available in NetSuite 2023.2.
• Bulk asset splitting can be conducted using a CSV import feature, enhancing efficiency.
• Simplified asset management processes support better accuracy in financial reporting.