NetAsset 2026.1

Automated Job Updates

  • Added an alternate schedule option to the NetAsset - Automated Jobs MR script.  This allows you to run the NetAsset - Automated Jobs MR script with a different schedule than the default schedule. This is useful for automating Tax Schedule generation during off peak hours.

Asset Creation Updates

  • On the Create Asset from CIP/Clearing pages, the asset type will now be pre-populated based on the account used to create the asset.  This is limited to if there is only one account used for the related asset type and there is no asset type pre-populated on the transaction line.
  • Added new script deployment parameter flag, type_change_warning, to the NetAsset - Create Assets SL to turn on a warning message when a user changes the asset type set on the originating transaction.
  • Added parameter in the Create Asset and Build-Up Suitelets that allows the user to ignore default account filtering so filtering can be setup on the saved search rather than dynamically.
  • Inventory Reclass Updates:
    • Added the ability to make an inventory reclass of a Vendor Bill for cases when there are Custom GL Impacts that are unable to be cleared via the CIP / Clearing screens due the inability to set custom fields on the Custom GL Impact.
    • Added feature to NetAsset Automation Rules to split the number of lines in an inventory reclass by the quantity of the inventory transaction when serial numbers are not provided.

Build Up Updates

  • Added the option for Asset to Build Up Pre-Determined to be set by default via the script deployments of the Build-Up options of the NetAsset - Create Assets Suitelets.

Controls Added

  • Added a field to NetAsset Setup, "Prevent Modified Asset Updates" to prevent updates (e.g. disposal, revaluation, transfer) from being processed if there has been a detected change to the asset during processing.

Depreciation Updates

  • Added the ability to define when the year starts on a custom calendar period record for annual depreciation with the new Year Start checkbox field.
  • Made update to allow customers that have Next Period or Mid-Month Cutoff depreciation conventions to select the in-service date on the split asset page for Capitalized assets splits.
  • Added the ability to use 'DY' as Days in Year for formulas that require a calculated days in year.

Queue for Capitalization Updates

  • Added a new global setting to allow the user to enable the auto queue for capitalization feature.  This will move the asset immediately into the Ready to Capitalize status when the asset has its schedule generated when checked on the Mass Schedule Generation page.

Reporting Updates

  • Added 2 new default columns to the Custom Section of the Asset Register Reports.  The Asset Register Report Columns will now have the Gross Asset Disposal and Accumulated Depreciation Amounts available to be selected rather than a net value in the Disposal column.
  • Added a new setting on the GL Reports to allow the user to select the 'Use Accounting Period Date' to filter the report on.  When selected, the 'To' and 'From' dates will filter based on the accounting period start date rather than the transaction date.
  • Changed the filters on the NetAsset Subledger Reports to point to the asset's schedule lines instead of the asset.
  • Added an option to export the entire account name instead of just the account number when exporting from reports.
  • Added a checkbox "Separate Disposal Impacts" for the NetAsset Register Reports to easily toggle between net disposal impacts and the breakdown of gross disposal amount and accumulated depreciation disposal amount.
  • Added new field to the NetAsset Report record, "Date Grouping", that allows the user to group waterfall reports by fiscal year, calendar year, or month.
  • Updated UI for filtering section of scripted reports (e.g. Waterfall, Roll Forward) to be pinned in a custom dock.
  • Added a parameter to the NetAsset Report SL that allows the user to specify the asset threshold for the report to be generated.  Note by increasing the asset threshold the report will take longer to generate which may cause a search timeout error.

Revaluation Updates

  • Updated End of Life Date to be editable when performing a revaluation - available on the revaluation proposal in the UI, the revaluation proposal on import, and the main revaluation screen. Useful life will be calculated based on the entered end of life date.
  • Added the ability to do a True-Up on assets that are Capitalized, for cases where the asset has a Capitalization Entry that is in a closed period.
  • Added confirmation messaging when the user changes the asset type for an alternate schedule to check if they want to update the depreciation method to match the new asset type.

Script Processing Updates

  • Added a new Global Setting, "Max Concurrency", that allows the user to set the maximum concurrency for the NetAsset Scripts on a per-job basis.
  • Added new field to NetAsset Setup, "Default Script Log Level", that allows the user to set the default log level for the NetAsset Scripts on a global basis.

Tax Updates

  • Updated tax engine for changes made to the US tax code in OBBB (One Big Beautiful Bill):
    • For tax years in 2025 the Section 179 Amount on tax year will now default to 2.5M with the Section 179 Limitation defaulting to 4M.
    • Section 168 Percentage will default to 100% for any tax years created up through 2028 - the code states that assets placed in-service prior to Jan 20th, 2025 should still use the prior 40% that was allowed prior to the passing of the bill.
    • New default Luxury Auto depreciation method for 2025 tax years.
  • Added the "Land" tax classification to the non-depreciation tax rules by default.
  • Added a new configuration setting for the NetAsset Tax Reports to allow configuration of sub-groupings for tax payer groupings.  When this is enabled it will allow the user to select multiple tax payers to group by and also filter down by the sub-groupings as well.
  • Added a checkbox to the NetAsset Tax Year to ignore the Federal tax rules for the tax year.  This will disable the 2025 adjustments for customers that have a use case that needs to ignore the Section 168 adjustment.
  • Added the ability to use the Tax Engine with accounting books if the Tax Multi-Book feature is enabled.
  • Added the incorporation of Write-Downs and Write-Ups into the alternate schedules when generating an Alternate Tax Schedule.

Time Machine Updates

  • Updated logic for "- Full Rewind -" option of Time Machine to handle untagging of originating transactions from any Build Ups that were reversed.
  • When using the Time Machine to refresh an asset, usage assets will now remove usage during the date range of the refresh.

Transaction Processing Updates

  • Added new global setting, "Locked Period Posting Preference" which indicates what NetAsset should do when a transaction is dated in a locked accounting period.
  • Added a new option to the Booking Date field on the NetAsset Setup page "Add Days From Accounting Period" to allow users to add days to the accounting period start date when booking transactions.  This is useful for non-calendar based accounting periods, that assets are still booked in a calendar based accounting period.
  • Added new button, "Topside Journal", to the asset schedule line that redirects to a journal entry where asset and schedule line will automatically be populated so that the journal can be properly incorporated into reports and true up revaluation entries.
  • Added a new parameter to the NetAsset - Journal SL to better facilitate customers that need to catch-up entries prior to the Go-Live date.
  • Added option to run the NetAsset - Journal SL as a custom query for the sublist and export to allow more efficient loading compared to Saved Searches.

Transfer Updates

  • Added a global setting 'Do Not Update Depreciation Method on Asset Type Transfer' to allow the user to prevent the depreciation method from being updated on an asset type transfer.

Misc.

  • Added a proposal only field to the NetAsset Custom Filter record to dictate whether the filter should be applied to Proposals or Assets.
  • Added the ability to display in-app messages to particular versions of the app for improved communication of issues and updates.
  • Added the ability to select proposal records (Disposal, Revaluation, Transfer) to be applied to the asset when setting up a new custom sourcing record.
  • Various bug fixes (see minor release notes).
  • Fully tested for the NetSuite 2026.1 release.
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