NetAsset - Data Validation

Overview

After the asset information has been entered into the NetAsset system, the next step in the implementation process is to review and validate the asset information. The following are recommended pages in NetAsset that can be used to validate the data upload. 

Asset Register Validation

Navigation: NetAsset > View Asset Registers > Asset Register 

This list shows all assets present in the system and can be exported from this page as a CSV, Excel, or PDF file to assist with validation. If fields are desired that are not present in the Default View, these can be added by selecting the Customize View button and selecting them on the Results tab. This list can be useful to validate the following:

  • Number of Assets
  • Asset Types
  • Primary Information 
  • In-Service Date
  • Capitalized Asset Value and Useful Life at In-Service Date

Schedule Entry Validation

Navigation: NetAsset > View Asset Registers > Schedule Entry Register 

This list shows all schedule lines for all assets and can be exported from this page as a CSV, Excel, or PDF file to assist with validation. If fields are desired that are not present in the Default View, these can be added by selecting the Customize View button and selecting them on the Results tab. Once exported, this list can be filtered to show all periods for a specific asset or all asset lines for a specific period. This list can be useful to validate the following:

  • Gross Asset Values
  • Accumulated Depreciation Values
  • Net Book Values
  • Depreciation Expense Activity

Subledger Validation

Navigation: NetAsset > Reports > Subledger Reports > Asset Subledger Period End Balances > Run

This report shows subledger month-end balance for the period selected by asset. To view for the desired period, select Filters and enter the end date of the period in the To field. This report pulls the information from the schedule line list and is useful to validate the following:

  • Gross Asset Values
  • Accumulated Depreciation Values
  • Net Book Values
  • Depreciation Expense Activity
  • Segmentation Data

G/L Validation

Prerequisites: All applicable journal entries must be run to populate G/L Validation reports

Navigation: NetAsset > Reports > G/L & Recon Reports

After transactions have been run, the reports in this section can be used to confirm that the G/L accounts are presented as expected. These reports are useful to validate the following:

  • G/L balances through a selected period
  • Period end balances in specific accounts
Was this article helpful?