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Fixed Asset Management Tips and Tricks

Posted by Sara Duong, Consultant on Nov 3, 2022 12:40:27 PM

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.  

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

Fixed Asset Management: Troubleshooting Net Book Value

Posted by Sara Duong, Consultant on Oct 21, 2022 11:13:34 AM

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.  

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

Common Project Time Entry Troubleshooting

Posted by Sara Duong, Consultant on Oct 12, 2022 11:55:08 AM

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.   

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

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