NETASSET IS AN ADVANCED FIXED ASSET SOLUTION BUILT DIRECTLY INTO NETSUITE
DENVER, CO, Nov. 15, 2019 — Netgain received ‘Built for NetSuite’ verification for its advanced fixed asset management solution, NetAsset. This is the second Netgain product to achieve this verification, the first was NetLease, a lease accounting solution for NetSuite.
‘Built for NetSuite’ verification indicates that the SuiteApp meets the same level of standards for security, data privacy, and overall quality as the solutions offered by NetSuite. This verification is an important element for NetSuite customers in evaluating solutions to properly manage and account for their fixed assets.
“We are excited to announce the BFN verification of NetAsset,” said Adam Riches, Partner at Netgain. “With NetAsset, NetSuite users benefit from a native solution without sacrificing the functionality they typically only see in point solutions.”
NetAsset is an enterprise-grade SuiteApp developed to handle the most complex fixed asset scenarios. It’s built on NetSuite’s world class ERP platform so companies can best leverage their existing investment and expertise in NetSuite, therefore eliminating the need for a third-party integration.
It supports all phases of the fixed asset lifecycle including capital build-up, in-service placement, depreciation & adjustments, asset maintenance, physical tracking, and reporting. NetAsset capabilities include intercompany asset transfers & eliminations, asset build-ups, splits, revaluations & disposals, and bulk processing. It supports advanced alternative depreciation schedules, is multi-book enabled, and provides proper segregation of duties across accounts payable, fixed asset, accounting & facilities teams.
Because the solution is native to NetSuite, fixed assets have a direct connection to purchase requests, purchase orders, vendor bills, projects, invoices, journals, maintenance records, claims, and usage. NetAsset provides comprehensive asset tracking, allowing users to capture financial and non-financial data all within a unified system with a robust end-to-end audit trail.
NetAsset supports decision making throughout the entire asset management cycle by providing advanced reporting like fixed asset rollforward and fixed asset waterfall reports.
Netgain was formed by a team of CPAs, NetSuite, and fixed asset accounting experts. This expertise is apparent in NetAsset, which was built with the accountant in mind and a particular focus on controls and auditability.
Netgain is a SuiteCloud Developer Network partner focused on creating native NetSuite solutions that address complex finance and accounting challenges. At their core, they are accountants focused on simplifying, standardizing, and automating solutions with a focus on controls and auditability.