NetAsset 2023.2

NETASSET VERSION 2023.2 KEY UPDATES

  • Depreciation
    • Custom Calendar Schedules
      • Create a custom calendar to depreciate assets on non-standard accounting calendar intervals (4-4-5, 5-5-4, etc.)
      • NetAsset Setup > System Setup and check the "Custom Calendars" checkbox on the System Features subtab
        • This will make a "Default Custom Calendar" field available on the NetAsset Type record and a "Custom Calendar" field available on the accounting subtab of the asset record
        • To setup a custom calendar, navigate to NetAsset > NetAsset Setup > Manage Custom Calendars
    • Prorated Depreciation
      • New, "Prorated (30/360)", depreciation convention available that calculates the prorated amount to depreciate in the first month based on the number of days / 30 that the asset was in-service during the month and adds an extra period onto the end of the schedule to depreciate the remainder of the month
      • New, depreciation formula variable, Days Remaining, allows users to make a fully pro-rated depreciation schedule with the following formulas
        • In-Service Formula: (INB - RV) * (DH / DR)
        • Post-Modification Formula: (NB - RV) * (DH / DR)
  • Revaluations
    • Added the ability to manually enter balances to true up to in complex true up scenarios
  • Multi-Book
    • Multi-Currency Multi-Book
      • Currency on each alternate subtab will automatically default to the currency associated with the accounting book / subsidiary combination
    • Added support for posting of transfer entries on alternate multi-book schedules
  • Asset Merges
    • Navigate to NetAsset > NetAsset Setup > System Setup and check the "Allow Merge Into Another Asset Upon Transfer" to turn on this feature
    • Once enabled, users will have a new "Merge Into Asset Upon Transfer" field when performing a single asset transfer
  • Managed Bundle Upgrades
    • Navigate to NetAsset > NetAsset Setup > System Setup and open the new "Manage Upgrades" subtab to control the frequency with which upgrades to the product are pushed out as well as who receives release notes
  • Minor Updates
  • Fully tested for the NetSuite 2023.2 Release

WHAT DO YOU NEED TO DO?

Your NetSuite Administrator should follow the instructions outlined here for getting the upgrade.

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