Automate Management of Fixed Assets
and Lease Accounting Compliance

NetSuite FixedAssets Management

NetSuite Fixed Assets Management provides you withthe power to eliminate spreadsheets and manual effort
from your company’s asset and lease management
processes. NetSuite’s solution gives you an easyto-manage single version of the truth for companyowned and leased assets, a flexible depreciation andamortisation schedules, detailed asset reporting andseamless integration with NetSuite’s coreaccounting functionality.
NetSuite Fixed Assets Management enables you tomaintain and control the complete asset lifecycle fromcreation to depreciation, revaluation and retirement.
Its detailed asset management functionality supports
multiple depreciation calculation types, handling ofdepreciating and non-depreciating assets, maintenanceschedules, lease accounting and insurance.

Key Benefits• Manage the complete asset lifecycle.
• Completely integrate asset managementwith accounting.
• Maintain accurate records for complianceand reporting.
• Eliminate manual effort and multiple spreadsheets.
• Easily track company-owned and leased assets.
• Leverage support for all standard and custom
depreciation methods.
• Ensure compliance with lease accounting
standards and regulations.
• Automatically post asset transactions directly toNetSuite accounts.
• Accurately report valuation, depreciation,expense and amortisation.
• Manage asset data and lease agreements
department and other segments.

Australia

Hong Kong

India

Singaporenetsuite.com.au

netsuite.com.hk

netsuite.com/in

netsuite.com.sg

NetSuite Fixed Assets Management allows you theflexibility to select which accounting period to depreciate.
As an example, with fixed assets seasonal withdrawal anddepreciation, you can choose not to depreciate the asset
using asset lifetime usage. Instead, you have the option
to stop the asset depreciation during downtime.
You can assign tax depreciation methods to an asset.
These assignments enable tax reporting or corporate
reporting methods to be tracked on the asset. Tight
integration with NetSuite Financials creates accounting
entries and fixed assets from purchases to help ensurethat no equipment slips through the cracks.

Acquire, Depreciate, Retire, Transfer andRevalue Assets
NetSuite Fixed Assets Management supports the entirecompany asset management lifecycle, from creating apurchase order within NetSuite to tracking, depreciationand eventual retirement. It supports unlimited asset
types, whether they are subject to depreciation or are
non-depreciating assets that simply need to be tracked.
NetSuite Fixed Assets Management makes asset creation
easy, enabling you to default in types when creating an
asset and specify and maintain key fields and details
relating to a particular asset. It allows you to:• Easily create, manage, track and report on any asset type.
• Control all asset-related transactions to company
assets including asset proposal, creation, depreciation,revaluation, transfer, disposal and split.
• Easily track depreciating or non-depreciatingcompany assets.
• Quickly create assets based on unlimited asset types,and report on them.

• Maintain all relevant asset details for assets, including
insurance, lease agreements and maintenance schedules.
• Use automated defaults for asset creation, depreciationand eventual retirement with minimal effort.
• Track and depreciate individual components based on
their own depreciable cost and useful life.
• Move assets from one location to another or from one
subsidiary to another.
• Increase or decrease asset values through revaluation toreflect its current market value.
• Account asset’s expenses for repairs.

Comprehensive Support for Depreciation
With NetSuite Fixed Assets Management, you gain
complete flexibility to depreciate assets based on theright depreciation method. NetSuite Fixed Assets
Management provides out-of-the-box methods, aswell as flexibility that enables you to create your own
depreciation methods, even supporting depreciations forboth financial and reporting purposes.
• Leverage built-in support for all standard depreciation
methods, including straight line, fixed declining, sum ofyears digits and asset usage.
• Create customise user-defined depreciation methods.
• Use “chain” depreciation methods to support
comprehensive asset valuations.
• Apply multiple depreciations per asset forreporting depreciations.
• Computes monthly and daily depreciation.

• Create assets with the correct quantity and values
allowing users to have multiple proposal records froma transaction with more than one quantity to create
multiple assets.

© Oracle | Terms of Use and Privacy

Page 2Efficient Lease Management Compliance
NetSuite Fixed Assets Management simplifies lease
payment, amortisation and reporting, helping you
comply with the latest tax rules and accounting
standards. With NetSuite Fixed Assets Management,
you can easily create, update and track finance andoperational leases. NetSuite Fixed Assets Management
separates lease and interest expenses and updates
lease values automatically, streamlining the monthly
close process.
• Standardise lease accounting processes acrossyour business.
• Ensure compliance with IFRS 16 and AASB 16 standards.
• Import existing amortisation schedules or create customschedules as new leases are added.

© Oracle | Terms of Use and Privacy• Automatically post journal entries with separate lease andinterest expense.
• Improve financial statement accuracy and transparency.

Complete Integration with NetSuite Accounting
NetSuite Fixed Assets Management enables you to easily
create fixed assets from purchase orders while ensuringthat all asset depreciations and disposals are posted to
NetSuite’s core accounting system.
• Automate the creation of assets from purchase orders.
• Post depreciation and asset retirements directly toNetSuite accounts.
• Streamline the entire process, including journal posting,bill posting and PO billing posting.

Page 3

Asset Summary Report

Jan 1, 2019 - Dec 31, 2019

Real-Time Fixed Assets and Lease Reporting
With NetSuite Fixed Assets Management, you canleverage the full power of NetSuite dashboards andreports to analyse and report on company-owned andleased assets.
• Easily run preconfigured reports for all your fixed andleased assets needs.
• Comprehensively report across fixed and leased assets,valuation, present value, expense and depreciation.

To find out more, contact NetSuite onInfoapac_WW@oracle.com• Automatically create reports for leased payments,including net present value, interest and principal.
• Slice and dice fixed and leased assets across locations,subsidiaries, asset types and more.
• Quickly run pre-built saved searches on items including
monthly depreciation, asset additions/disposals, assetlist, asset register, lease proposal history, inspection due,insurance renewal due, expiring leases and more.

Australia
Phone: 1800 638 784
www.netsuite.com.au

Hong Kong
Phone: +852 3655 1949
www.netsuite.com.hkJapan
Phone: +81 3 6834 4888
www.netsuite.co.jp

Singapore
Phone: +65 6263 1300
www.netsuite.com.sg

China
Phone: 400 610 6668
www.netsuite.cn

Philippines
Phone: +632 8295 9022

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India
Phone: +9180 4029 8789
Phone: +9180 4029 8809
www.netsuite.com/in