NetAsset - Remove transactions from capitalization queue

Overview

Transactions coded to the Clearing or CIP account appear on the Create Assets from Proposals page until they are capitalized, expensed, or removed. This article covers the ways to clear a transaction from that queue without creating a GL impact or asset. This typically is required when the Clearing or CIP account are used for more transactions then just asset creation.

To see all options for the Clearing account page, see NetAsset - Creating assets from proposals (clearing).

Step-by-step process

NetAsset has two options for direct removal of a transaction from the Clearing or CIP page. You can either

Use the built in Removal process directly from the Clearing/CIP page
Edit the underlying transaction directly to remove it from the Clearing/CIP page.

Transactions are removed when the NetAsset Ignore Proposal Transaction Line on the transaction line itself is populated. Both methods are ways to populate that box as true.

Custom GL Lines plug-in lines can't be tagged or removed

Lines added to a transaction's GL impact by a Custom GL Lines plug-in (for example, tax lines from a tax engine) can be selected to create an asset, but NetSuite doesn't let scripts set the NetAsset Asset or NetAsset Ignore Proposal Transaction Line fields on them. The line stays on this page after the asset is created, so it's easy to capitalize it twice, and it doesn't appear in the asset's related transactions. It also can't be removed with Remove. If Clearing Reconciliation on Capitalization is enabled, the asset's capitalization entry errors because the tagged clearing lines don't match the asset value.

Exclude these lines from the Create Assets saved search, or reclass the costs onto a standard transaction line. Auto-reclass is supported via a NetAsset Automation Rule with Reclass Custom GL Plugin Impacts checked. This will move new costs on Custom GL Lines to lines NetAsset can tag.

Option 1 - Use the remove button

Navigate to NetAsset > Create New Assets > Create Assets from Proposals (Clearing) or (CIP).
Select the transactions and click Remove.

If the selected transactions do not net to zero, a warning says an additional adjustment is needed to clear the balance from the account. Confirm the message, or create a manual journal to net out the cost and select both lines for removal.
The processing page appears. Wait for the status to reach Complete. Removed transactions show in a list, and any errors show in the Execution Log column.

Each removed line has NetAsset Ignore Proposal Transaction Line checked (shows as Yes in view mode). This hides it from the proposal pages but doesn't change the account balance. If the field isn't visible, see NetAsset - Adding NetAsset Ignore for Capitalization.

View and restore removed transactions

Removed transaction lines can be viewed and returned to the Create Assets from Proposals (Clearing) or (CIP) screen.

On the Create Assets from Proposals (Clearing) or (CIP) page, set any filters needed, then click View Removed. The page reloads as Removed Transactions and lists the removed lines that match the current filters.
To narrow the list, change the filters and click Filter.
To go back to the proposal page without restoring anything, click Hide Removed.
Check Select next to each line to return, then click Restore.

A results page lists the restored transactions. NetAsset Ignore Proposal Transaction Line is cleared on each line, and the lines show on the proposal page again.

Things to know about restoring

The list includes every line with the NetAsset Ignore Proposal Transaction Line box checked: That covers lines removed with Remove and lines where the box was checked by hand on the transaction.
Expensed lines are not listed: Lines already expensed with the Expense button do not appear in the removed list and cannot be restored.
Locked periods block a restore: A line can't be restored if it sits in a locked period with Allow Non-G/L Changes disabled. Have an administrator navigate to Setup > Accounting > Manage Accounting Periods and enable Allow Non-G/L Changes on the period, then try again.
Restoring does not post an entry: Restoring only clears the ignore box. It does not create or reverse any journal entry.

Option 2 - Check the ignore box on the transaction directly

Prerequisite: the NetAsset Ignore Proposal Transaction Line field must be on the transaction form. See NetAsset - Adding NetAsset Ignore for Capitalization.

Open the transaction, check NetAsset Ignore Proposal Transaction Line on the line, and Save.

Lines hidden this way also appear under View Removed and can be restored there.