NetAsset 2020.3

NETASSET VERSION 2020.3 KEY UPDATES

  • Asset Type Transfers 
    • Allows users to update the asset type on an asset and automates the creation of a journal to reverse out and re-establish gross asset and accumulated depreciation balances
  • Cross Currency Intercompany Transfers
    • Transfers between subsidiaries with different currencies will now regenerate the remaining schedule in the new subsidiary’s currency
  • Post Revaluation Formula
    • Allows a different depreciation formula to be used following a revaluation
  • Extended Life Depreciation Formula
    • Allows an asset that has reached its useful life, but not its residual value estimate to continue to depreciate until it is disposed of
  • Depreciation Calculation Interval
    • Allows users to post depreciation at a different interval than it is calculation (e.g. post monthly, calculate annually)
  • Custom Suitelet Filters
    • Allows users to create account specific filters to apply to during capitalization or on any mass asset processing screen
  • Usage Based Asset Revaluations
    • Allows a user to update the current remaining usage on an asset
  • Prospective Depreciation Method Update Revaluations
    • Allows a user update the depreciation method being used on a go-forward basis
  • Global setting “Auto Approve Transactions”
    • Allows users to choose which NG Asset Transaction Types should be automatically approved and which should require direct user approval
  • Global “Quick Access Button” toggle for “Mass Capitalize Assets” button
    • Allows user to remove the “Mass Capitalize Assets” button from the Capitalize from Clearing and Capitalize from CIP screens

WHAT DO YOU NEED TO DO?

  • Update your NetAsset bundle (Customization > SuiteBundler > Search & Install Bundles > List). Default settings should be as follows:
    • Custom Field Bundle Settings: “Hide on Existing Forms” 
    • Custom Lists Updates: “Replace Data” 
      • Exceptions include any lists not set to Lock On Install, which currently includes NG Asset Class of Property, NG Asset Unit of Measure Types, and NG Asset Status. These should be set to “Merge Data” to ensure any changes are kept: 
    • NG Asset Depreciation Method: “Merge Data” 
    • NG Asset Alternate Subtab: “Preserve Data” 
    • All SuiteScripts should be set to “Update Deployments” with the exception of Suitelet Scripts which should be set to “Do Not Update Deployments” in order to maintain user links and role settings. 
  • Update your preferred NG Asset form to hide any new fields which are not needed in your instance or reorganize them to display where you would like. 
  • Update NetAsset setup (NetAsset > NetAsset Setup > System Setup) to reflect key decisions on which NG Asset Transactions should be “Auto Approve Transactions” and whether to display the “Mass Capitalize Assets” quick access button
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