Oracle NetSuite Fixed Asset Management Cloud Service
NetSuite Fixed Asset Management Cloud Service is a cloud-based solution designed to help businesses manage their fixed assets more efficiently. The platform provides advanced asset tracking capabilities, enabling businesses to monitor their assets throughout their lifecycle, from acquisition to disposal. With NetSuite Fixed Asset Management, businesses can reduce their tax liabilities, improve their asset utilization, and comply with accounting regulations. The platform also offers features such as depreciation management, revaluation, and automated asset retirement, which streamline asset management processes and reduce errors. NetSuite Fixed Asset Management integrates seamlessly with other NetSuite applications, such as ERP and CRM, providing businesses with a unified view of their operations and enabling them to make informed decisions.
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Why Choose NetSuite Fixed Asset Management Cloud Service ?
NetSuite Fixed Assets Management provides comprehensive support for managing company assets throughout their lifecycle, from purchase order creation to tracking, depreciation, and disposal. With the ability to handle both depreciating and non-depreciating assets of any type, this solution simplifies asset creation by allowing you to easily default in asset types and maintain key asset details. Key capabilities of NetSuite Fixed Assets Management include:
1. Creation, management, tracking, and reporting on any asset type with ease
2. Control of all asset-related transactions, including proposals, creation, depreciation, revaluation, transfer, disposal, and split
3. Tracking of both depreciating and non-depreciating company assets
4. Creation of assets with accurate quantity and values, allowing for the creation of multiple assets from a single transaction with multiple quantities
5. Maintenance of all relevant asset details, such as insurance, lease agreements, and maintenance schedules
6. Automated defaults for asset creation, depreciation, and retirement with minimal effort
7. Tracking and depreciation of individual asset components based on their depreciable cost and useful life
8. Movement of assets between locations or subsidiaries
9. Ability to increase or decrease asset values through revaluation to reflect current market value
10. Accounting for asset expenses, including repairs.
With NetSuite Fixed Assets
11. Management, you can easily manage all aspects of your company's assets in a single solution.
1. Creation, management, tracking, and reporting on any asset type with ease
2. Control of all asset-related transactions, including proposals, creation, depreciation, revaluation, transfer, disposal, and split
3. Tracking of both depreciating and non-depreciating company assets
4. Creation of assets with accurate quantity and values, allowing for the creation of multiple assets from a single transaction with multiple quantities
5. Maintenance of all relevant asset details, such as insurance, lease agreements, and maintenance schedules
6. Automated defaults for asset creation, depreciation, and retirement with minimal effort
7. Tracking and depreciation of individual asset components based on their depreciable cost and useful life
8. Movement of assets between locations or subsidiaries
9. Ability to increase or decrease asset values through revaluation to reflect current market value
10. Accounting for asset expenses, including repairs.
With NetSuite Fixed Assets
11. Management, you can easily manage all aspects of your company's assets in a single solution.
NetSuite Fixed Assets Management offers a high degree of flexibility in selecting the appropriate depreciation method for your assets. The system comes with pre-built depreciation methods that cover standard approaches such as straight-line, fixed-declining, sum of years' digits and asset usage. Moreover, it also allows you to define your own custom depreciation methods to cater to your specific requirements. You can even use "chain" depreciation methods to facilitate comprehensive asset valuations, and apply multiple depreciations per asset to facilitate reporting. The system can compute monthly and daily depreciation, providing accurate results in a timely manner.
NetSuite Fixed Assets Management streamlines lease payment, amortization, and reporting to comply with the latest tax regulations and accounting standards. You can easily create, track, and update finance and operational leases, and NetSuite Fixed Assets Management automatically separates lease and interest expenses and updates lease values, simplifying the monthly close process.
NetSuite Fixed Assets Management simplifies the creation of fixed assets from purchase orders and ensures that all corresponding depreciations and disposals are recorded accurately in NetSuite's core accounting system. The solution automates asset creation from purchase orders and streamlines the entire process, including journal posting, bill posting, and PO billing posting. Furthermore, all asset retirements and depreciations are automatically posted to NetSuite accounts, reducing manual errors and improving accuracy.
NetSuite Fixed Assets Management provides you with the ability to utilize NetSuite's dashboards and reports to analyze and report on all company-owned and leased assets. With this functionality, you can:
Easily generate pre-configured reports to meet your fixed and leased assets requirements.
Get a comprehensive view across all fixed and leased assets, including valuation, present value, expense, and depreciation.
Automatically create reports for leased payments, including net present value, interest, and principal.
Analyze and report on fixed and leased assets by location, subsidiary, asset type, and more.
Quickly run pre-built saved searches, such as monthly depreciation, asset additions/disposals, asset list, asset register, lease proposal history, inspection due, insurance renewal due, expiring leases, and more.
Easily generate pre-configured reports to meet your fixed and leased assets requirements.
Get a comprehensive view across all fixed and leased assets, including valuation, present value, expense, and depreciation.
Automatically create reports for leased payments, including net present value, interest, and principal.
Analyze and report on fixed and leased assets by location, subsidiary, asset type, and more.
Quickly run pre-built saved searches, such as monthly depreciation, asset additions/disposals, asset list, asset register, lease proposal history, inspection due, insurance renewal due, expiring leases, and more.
1. NetSuite Financial Management Expense Allocations simplify the process of entering expenses without assigning them to classes, departments, or locations initially, and then allocating them based on a weighted formula. You can use allocation schedules once or set them up to recur periodically.
2. Dashboard reminders alert you when active allocation schedules require processing. After reviewing, you can create the journal entry for all the schedules with a single click.
2. Dashboard reminders alert you when active allocation schedules require processing. After reviewing, you can create the journal entry for all the schedules with a single click.
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