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Split Fully Depreciated Assets in NetSuite 2023.2

Split fully depreciated assets with new features in NetSuite 2023.2, including bulk asset splitting via CSV import.

·2 min read·3 views·NetSuite 2023.2·From NetSuite Release Notes PDF

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.

Frequently Asked Questions (4)

Does the ability to split fully depreciated assets apply to all NetSuite users?
The new feature specifically impacts administrators, accountants, and finance teams who manage fixed asset records and depreciation, so they will benefit directly from this capability.
Are there any prerequisites for using the bulk asset split feature?
The article does not specify any particular prerequisites, but users should be familiar with the Asset Split page and have the necessary permissions to manage asset records.
What happens to existing asset records after performing a bulk split?
The article does not provide detailed information about the implications for existing asset records after a bulk split; therefore, it is recommended to test the feature in a safe environment before executing in a live setting.
Do I need to enable a feature flag for the asset splitting functionality?
The article does not mention the need for a feature flag, suggesting that the functionality is automatically available to users in NetSuite 2023.2.
Source: Split Fully Depreciated Assets — NetSuite Release Notes PDF. This article was generated from official Oracle documentation and enriched with additional context and best practices.

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