NetAsset - Subledger to GL reconciliation reports
Overview
NetAsset includes three reconciliation reports that compare the NetAsset subledger (asset records and their depreciation schedules) to the NetSuite general ledger, asset by asset:
| Report | Compares |
|---|---|
| Gross Asset Subledger to GL Reconciliation | Gross asset value on the schedule vs. activity posted to the asset type's Fixed Asset account |
| Accumulated Depreciation Subledger to GL Reconciliation | Accumulated depreciation on the schedule vs. activity posted to the asset type's Accumulated Depreciation account |
| Net Book Value Subledger to GL Reconciliation | Net book value (gross asset less accumulated depreciation) on the schedule vs. the net of both GL accounts |
Each report returns only assets where the GL balance and the subledger balance differ. Assets that reconcile are excluded, and results are sorted by the largest difference first so the most significant discrepancies are reviewed first.
Prerequisites
- The user must have access to NetAsset reports and the Report Generator. NetAsset version 2026.2.3.0 or later is required for the Reason and Explanation Of Difference columns.
- The NetAsset go-live date must be set in NetAsset Global Settings. It is used as the default start date when no From Transaction Date is entered.
Step-by-step process
- Navigate to NetAsset > Reports > G/L & Recon Reports and click Run to preview the desired reconciliation report.
2. Set the date filters:
- Accounting Period: Defaults to the current accounting period. Selecting a period fills in the From Transaction Date and To Transaction Date.
- From Transaction Date: The report includes accounting periods that end on or after this date. If left blank, the NetAsset go-live date is used.
- To Transaction Date: The report includes accounting periods that end on or before this date. Defaults to the current accounting period.
Choose the date range carefully
The dates select whole accounting periods, and GL activity is included by its posting period, not its transaction date. Use period start and end dates to avoid leaving out part of a period. A journal posted to a period outside the date range is reported as a Timing Difference or Catch-Up Posting even when nothing is wrong. Widen the From or To date to include the posting period to confirm.
3. Report results load in batches by asset.
4. Review the rows returned. Each row represents an asset whose GL and subledger balances do not match with the Reason and Explanation of Difference provided.
5. Export the report as XLSX, CSV, or PDF.
Only discrepancies are shown
An empty result means every in-scope asset reconciles for the selected date range.
Report columns
| Column | Description |
|---|---|
| Subsidiary | Subsidiary of the asset. |
| Asset | Asset ID and name. |
| Asset Type | Asset type of the asset; determines which GL accounts are reconciled. |
| GL Balance | Sum of posted activity tagged to the asset on that account, for periods ending within the date range. |
| Subledger Balance | Change in the asset's main depreciation schedule balance across the date range. |
| Difference | GL Balance minus Subledger Balance. |
| Reason | The most likely cause of the difference. |
| Explanation Of Difference | A sentence describing the cause, including the amount involved and any suggested action. |
Difference reasons
The Reason column shows the single most likely cause for each asset difference, and the Explanation Of Difference column describes it with the amount involved. When several schedule lines on the same asset share a reason, the explanation also states how many and the total they account for (for example, "Schedule line for period 21 (Sep 2026) of 1,250.00 has not been posted to the general ledger. Together with 2 other schedule lines on this asset in the same state, these account for -3,750.00 of the difference. Run Create Journal Entries for this period.").
The 14 possible reasons are listed below. Amounts, periods, and document numbers in the examples are illustrative.
1. Unposted schedule line
A schedule line within the date range has no journal entry, so the subledger includes the activity but the GL does not.
Example: Schedule line for period 14 (Mar 2026) of 1,250.00 has not been posted to the general ledger. Run Create Journal Entries for this period.
Action: Run Create Journal Entries for the period.
2. Journal entry not posted
The journal entry for the schedule line was created but is not posted to the GL (for example, it is pending approval).
Example: Schedule line for period 14 (Mar 2026) of 1,250.00 has journal entry 48213, which was created but never posted to the general ledger. Approve or post the journal entry.
Action: Approve or post the journal entry.
3. Journal entry deleted
The schedule line references a journal entry that has since been deleted.
Example: Schedule line for period 9 (Oct 2025) of 3,400.00 references journal entry 48207, which no longer exists. The journal entry was deleted after posting.
Action: Re-create the journal entry for the schedule line through NetAsset.
4. Timing difference
The journal entry posted to a period outside the selected date range, so the subledger counts the activity in the range but the GL does not.
Example: Schedule line for period 4 (Jan 2026) of 2,000.00 posted to Nov 2026, which is outside this date range. This is a timing difference, not a missing posting.
Action: Extend the date range to include the journal's posting period. No correction is needed.
5. Catch-up posting
A schedule line dated before the From Date was posted to a period inside the range. The GL counts it and the subledger does not.
Example: Schedule line for period 6 (Aug 2025) of 714.29 posted to Jan 2026, which is inside this date range while the schedule line itself is not. The general ledger counts it and the subledger does not. Nothing is wrong with the asset - move the From date back to Aug 2025 to reconcile it.
Action: Move the From Date back to the period named in the explanation. No correction is needed.
6. Partially posted period
Some, but not all, of the schedule lines in a period reached the GL.
Example: Feb 2026 is partially posted - 2 of 3 schedule lines reached the general ledger. Run Create Journal Entries for this period.
Action: Run Create Journal Entries for the period.
7. Journal not tagged to schedule line
A transaction was posted for a schedule line, but the schedule line is not linked back to that transaction.
Example: Depreciation 4521 of 850.00 was posted for the schedule line for period 12 (Jan 2026), but that line is not tagged back to it. Tag the transaction to its schedule line.
Action: Link the transaction to its schedule line. Contact Netgain Support if assistance is needed.
8. GL activity without schedule line
A NetAsset transaction posted to the asset's account, but no schedule line accounts for it.
Example: Asset addition 15924 of 10,000.00 posted to this asset's account with no matching schedule line.
Action: Review the transaction and the asset's schedule. Contact Netgain Support if the schedule is missing activity.
9. Manual journal entry
A journal entry created outside NetAsset is tagged to the asset and posted to the asset's account.
Example: Journal entry JE10533 of 5,000.00 was posted manually to this asset's account outside of NetAsset.
Action: Confirm the manual journal entry is intended. Reverse it, or record the activity through NetAsset (for example, a revaluation) so the subledger reflects it.
Reasons 10 to 12 are possible causes, not confirmed ones. They appear only when no more specific reason applies, and they name a change made to the asset within the date range for you to review.
10. Recent revaluation
A revaluation took effect within the date range. The column shows the revaluation type, such as Recent Build Up, Recent Write Up, or Recent Fair Value Adjustment.
Example: A Build Up of 10,000.00 took effect on 3/15/2026 and posted journal entry 48311. No unposted line or untagged journal accounts for this difference, so compare that journal to this asset's accounts.
Action: Compare the revaluation's journal entry to the asset's accounts. If no journal entry exists, the revaluation never reached the GL.
11. Recent transfer
The asset was transferred within the date range.
Example: This asset was transferred on 4/1/2026, posting journal entry 48356. No unposted line or untagged journal accounts for this difference, so compare that journal to this asset's accounts.
Action: Compare the transfer's journal entry to the asset's accounts. If no journal entry exists, the transfer never reached the GL.
12. Recent split
The asset was split within the date range.
Example: This asset was split on 5/10/2026 by Split 4410. No unposted line or untagged journal accounts for this difference, so compare that transaction to this asset's accounts.
Action: Compare the split transaction to the asset's accounts.
13. Unexplained
No known cause was identified for the difference.
Example: No known cause was identified for this difference.
Action: Review the asset's schedule lines and GL activity for the date range. Contact Netgain Support if the difference cannot be resolved.
14. Not classified
The report has too many differences to explain in one run, so some rows were not classified.
Example: This report has too many differences to explain in one run, so this one was not classified. Narrow the filters or date range to see its reason.
Action: Narrow the filters or date range and run the report again.
Limitations / callouts
- Only active, GL-impacting assets are included. Pending assets and assets marked No GL Impact are excluded.
- Only the primary accounting book and the main depreciation schedule are reconciled. Alternate schedules are not included.
- Only GL lines tagged to the asset, posted to its asset type's account, on journal entries or NetAsset transactions are included.
- Differences of 0.005 or less are treated as reconciled, so any difference of one cent or more is reported.
Troubleshooting
| Issue | Resolution |
|---|---|
| An asset shows a Timing Difference | Extend the date range to include the period the journal was posted to. |
| An asset shows a Catch-Up Posting | Move the From Date back to the period named in the explanation. |
| An asset shows Unposted Schedule Line | Run Create Journal Entries for the period. |
| Many rows show Not Classified | Run the report for a narrower date range. |
| The Reason and Explanation Of Difference columns do not appear | These columns require NetAsset 2026.2.3.0 or later. If the account is already on that version, contact Netgain Support. |
| The Reason and Explanation Of Difference columns are empty | Contact Netgain Support. |
