From initial acquisition, across lifecycles, balance sheets, and reports, to eventual depreciation, see many-to-one connections that link back to the source transactions
Save time and accounting resources while reducing the risk of error by using the powerful tools of NetAsset built into your existing accounting solution.
Use existing roles in NetSuite to collect information about assets from the employees who know the most about that component of the asset. Decentralizing data collection simplifies workflows and helps keep information accurate and up-to-date
Every phase of the asset’s life is accounted for and forecasted, including capital build-up, in-service placement, depreciation & adjustments, asset maintenance, physical tracking, and reporting.
As a Native SuiteApp, NetAsset puts asset accounting where it should be — in your core financial system. Install NetAsset, and Netgain’s accounting processes and automation will be embedded into your NetSuite account, eliminating painful reconciliations, integrations and concerns about security and data integrity common with third-party apps.
See aggregate project costs before placing an asset in service. CIP Build-Up functionality links costs to underlying projects or custom groupings in many-to-one relationships. Simplify tracking project costs and commitments against your budget by grouping all relevant costs into a single asset.
NetAsset leverages native NetSuite users and roles to ensure that each step in the process is performed by the right user. Rather than relying on large upfront data dumps, information is collected from employees assigned to the relevant role, simplifying workflows and ensuring greater accuracy of information.
Crucial reporting functionality makes forecasting and auditing easy. Included with the suite of advanced reports, NetAsset creates Fixed Asset Roll Forward reports for auditibillity and reconciliations and Waterfall reports for forecasting depreciation expense.
This built-in app keeps all upstream data together from final asset to original purchase order. Create many-to-one connections that automatically aggregate values, summarize into an asset record and link back to the source transitions.
In addition to native segmentation (by department/class/location), you can assign specific location details to assets and assign them to a specific employee. Add any number of additional attributes as well as tag IDs and information on when assets were last observed in place.
Simplify asset transfers and accounting between companies. Accurately transfer balances and go-forward depreciation expense across subsidiaries/classes/locations. Create assets that auto-eliminate on consolidation to prevent double-counting of assets.
Enable a range of crucial asset accounting tools:
Supports multiple depreciation methods (formula-based or table-based) and supports U.S. federal MACRS tax tables as well as up to 10 alternate schedules for each asset. Allows up to 3 separate adjustment books to post book-specific transactions.
Save time by performing widespread actions with just a few clicks. Create assets, generate depreciation schedules, queue additions for capitalization, book/approve journals, revalue, transfer, and dispose of assets in batches.
Our click-by-click audit trail provides detailed tracking to easily create detective controls within your internal control environment. Includes time and date stamp, shows changes made and identifies the user who made them.