NetAsset - Mass Asset Disposals

Use Case: Multiple assets need to be disposed at the same time or segregation of duties requires a separate person handle asset disposals.

STEP BY STEP PROCESS

Navigate to the Dispose Assets page by selecting NetAsset > Update or Modify Assets > Dispose Assets

Enter any desired filters and click Filter Results if you would only like a subset of assets to be disposed.
Update the fields as necessary for the asset disposal:

Field	Description	Example
Disposal Period	The start date of the period the disposal and resulting journal will generate.	- Earliest Open Period -
Cash Received Per Asset to Dispose	Input the amount to be received for each individual asset to be disposed.	1,000.00
Cash Paid Per Asset to Dispose	Input the amount to be paid for each individual asset to be disposed.	0.00
Override Gain/Loss Account	Optionally override the default Gain/Loss account for the Asset Type which will be impacted with the asset’s current Net Balance minus Cash Received plus Cash Paid	7501 Gain on Vehicle Sale
Override Receivable/Payable Clearing Account	Optionally override the default Receivable/Payable Clearing account for the Asset Type which will be impacted with the Cash Received minus the Cash Paid	Sale of Assets Receivable
Disposal Reason	Provide a brief description of the reason for the disposal.	Scrap
Disposal Note	Provide any additional description or details for the disposal.	Excess supply and under-utilized; sold in auction.

Once satisfied with the assets selected in the sublist, click the Dispose button.

You will be redirected to a status page where you can refresh periodically to see the newly disposed assets

Clicking the link in the Asset column will reveal the same schedule and GL impacts covered in the previous section.
Once the status is Complete you can click the Export button to save the processed results as a .csv file

Mass Asset Disposals ( Different amounts of cash received per asset )

Use Case: If Multiple assets with different disposal information (i.e. different cash amounts received per asset disposed) need to be disposed at the same time, then it can be done using the following steps.

STEP BY STEP PROCESS

Download template by selecting NetAsset > View Asset Register > Disposal Register and clicking the Excel icon.
Fill out the required fields in the CSV
Save the Excel file as a CSV and use the Import Assistant tool in Netsuite by selecting Setup > Import/Export > Import CSV Records
Select the fields below and attach the CSV file created
Select Next > Next
In the Field Mapping change the "Asset" to "ID"
Select Next and Save import Map Name, Description, and ID as necessary
Select Save & Run
Ensure all items within the CSV have been uploaded by selecting Setup> Import/Export > View CSV Import Status
After all assets are successfully uploaded select NetAsset > Update or Modify Assets > Dispose Assets
Select Proposals Only
Select the desired assets and click dispose

Was this article helpful?