In the fast-paced world of business software, NetSuite continues to evolve and improve its offerings. NetSuite has 2 major enhancement releases a year.  Let’s talk about the most recent 2022 and 2023 Fixed Asset Management Module enhancements.  

Tags: NetSuite, ERP, Project Management, Reporting, NetSuite Partner, NetSuite How To's, NetSuite Tips, Fixed Asset Management, Netsuite Updates, asset management, Hard Assets

Save searches have emerged as a powerful tool to sift through high volumes of data and uncover relevant information. However, there are instances when you need to extract data for a specific subset of transactions, without the overload of excess information. In this article, we will explore ways to leverage unique identifiers, such as Transaction IDs or Internal IDs, to streamline your search and focus solely on data that matters to you most.

Tags: NetSuite, ERP, Project Management, Reporting, NetSuite Partner, NetSuite How To's, NetSuite Tips, Saved Search, Transactions, Transaction Lines, Implementation, Transaction IDs

During the course of managing your assets in NetSuite’s Fixed Asset Management (“FAM”) module, you are bound to revalue a few assets.  Revaluing an asset means the current value of the asset is more or less than the original cost, the asset life has changed, depreciation method has changed, or the residual value has changed. NetSuite’s FAM module can help you revalue and post the correct GL impacts to your financial statements. If you would like to learn how to revalue an asset in the FAM module, please visit SuiteAnswers: Revaluation of an Asset (https://suiteanswers.custhelp.com/app/answers/detail/a_id/19284/loc/en_US).  

Tags: NetSuite, ERP, Project Management, Reporting, NetSuite Partner, NetSuite How To's, NetSuite Tips, Bank Reconciliation, Fixed Asset, Reconciliation, Fixed Asset Management, Revaluation

As you grow in your business, acquisition is a common path for growth.  Acquiring a new subsidiary is exciting and chaotic at the same time.  Do not feel rushed to get the new entity on boarded with NetSuite. Both primary and new entity need time to assimilate to the new structure.   

Tags: NetSuite, ERP, Project Management, Reporting, NetSuite Partner, NetSuite How To's, NetSuite Tips, NetSuite Integrations, data, Support, New or Adding Subsidiary, Subsidiary, Implementing Subsidiary

NetSuite is a system that evolves with your business.  As your business expands, integrations or customizations will be necessary.  There’s a great tool to help you manage optimizing NetSuite. Strongpoint is a SuiteApp that is a simple bundle implementation on your NetSuite environment. Whether it’s custom fields, workflows, or scripts, Strongpoint helps manage the customizations and minimize risks. 

Tags: NetSuite, ERP, Reporting, NetSuite Partner, NetSuite How To's, NetSuite Tips, NetSuite Integrations, data, Troubleshoot, Customization, Support

In a previous blog (https://blog.concentrus.com/charge-rule-overview) we walked through a high overview of NetSuite’s Project Charge Rules.  In this article, we will dive a little deeper into more complex Time-Based rules.  

Tags: NetSuite, NetSuite How To's, NetSuite Tips, Billable Time, T&M, Time and Material, Project, Charges, Invoicing

If you are a service based or project based business, NetSuite provides flexibility in how to track charges and invoice customers.  Besides standard invoicing functionality (simple unit times price per unit), NetSuite provides a project based billing called Charge Rules.  

Tags: NetSuite, NetSuite How To's, NetSuite Tips, Fixed Asset, Billing, T&M, Time and Material, Expenses, Project, Charges

Once assets are loaded in NetSuite’s Fixed Asset Management module (“FAM”), besides initiating monthly depreciation, there are some ongoing troubleshooting or maintenance.  This blog will share some common tips and tricks.  

Tags: NetSuite, Reporting, NetSuite How To's, NetSuite Tips, FAM, Fixed Asset, Troubleshoot, Asset Transfer, Locked Period, Fixed Asset Management

NetSuite’s Fixed Asset Management Module (“FAM”) is a great tool to manage the full life of an asset.  It gets a little tricky when you load in assets at mid-life.  Several things can throw off your balances and values.  Let’s say it’s been a few months since you’ve implemented the FAM module and you’ve run a few deprecation transactions with the module. You notice that the cumulative deprecation from your asset records do not match the cumulative depreciation on your Balance Sheet. Below are a few tips on how to troubleshoot and fix the issue.  

Tags: NetSuite, NetSuite How To's, NetSuite Tips, Fixed Asset, Troubleshoot, Net Book Value, Cumulative Depreciation

Time entry is important for many different businesses, particularly project based businesses.  For instance, service companies charge their clients by the hour.  Therefore, tracking and billing the correct number of hours by project determines the profitability of a company.  Ultimately, it helps companies track costs or billable time is the source of their revenue.   

Tags: NetSuite, NetSuite How To's, NetSuite Tips, Project Time Entry, Troubleshoot, Errors, Time Entry, Billable Time