NetAsset - Capitalize From Single Vendor Bill
CAPITALIZE FROM SINGLE VENDOR BILL
Use Case: Smaller companies whose A/P teams also handle Fixed Assets may find it useful to be able to create an asset directly from a vendor bill.
Prerequisite: A proposed asset to be capitalized is wholly contained on a single vendor bill and the script NetAsset - Create Assets from Bill UE needs to be deployed.
- Search "NetAsset Scripts" in the NetSuite search bar
- Find the script titled "NetAsset - Create Assets From Bill UE" and select View
- Once in the script, select Deploy Script
STEP BY STEP PROCESS
- Save a Vendor Bill with one of the following:
- An expense line item where the account is a Fixed Asset Clearing Account or a Construction in Progress from an Asset Type setup in the NetAsset instance.
- A line item where the native Asset account field references a Fixed Asset Clearing Account or a Construction in Progress from an Asset Type setup in the NetAsset instance.
- View the Vendor Bill and click the Create Asset button
- You will be redirected to a new asset record with the following pre-populated from the corresponding field on the Vendor Bill:
Vendor Bill Field | NetAsset Field |
Subsidiary (Main) | Subsidiary |
Currency (Main) | Currency |
Department (Main) | Department |
Class (Main) | Class |
Location (Main) | Location |
Project (Main) | Project |
Transaction Date (Main) | In-Service Date |
Transaction Date (Main) | Acquisition Date |
Amount (sum of eligible lines) | Capitalized Asset Value |
- Fill out all the required fields on the asset and click Save.
- Upon saving, the eligible Vendor Bill lines will be updated with a link to the newly created asset.