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

  • Once on the script deployment page, make sure the following fields are filled out as as shown below, then click Save.
    • Applies To: Vendor Bill
    • Deployed: Yes
    • Status: Released
    • Roles: All, or desired specific roles

STEP BY STEP PROCESS

  • Save a Vendor Bill with one of the following:
    1. 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.
    2. 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.
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