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:

• Build-up: Add additional costs and associations to an existing asset and prospectively update depreciation tables based on added information
• Splits: Separate single asset into multiple assets, each with their own asset attributes
• Revaluation: Write-up or write-down/impair asset values and change depreciation details
• Disposals: Dispose of an asset, capture cash received/paid, auto-calculate gain/loss
• True-ups: Create life-to-date adjustment entries to correct information errors from earlier in the process

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.