NetAsset 2025.2

Advanced Location Tracking

  • Added a global setting, Advanced Location Tracking, to enable more precise tracking of asset locations:
    • The feature will leverage the NetAsset Transfer record and will create a tracking record upon the Capitalization, Disposal, and Transfer of an asset.
    • The feature will also allow a more granular date of the date of the transfer that can be independence of the effective date of the action for accounting purposes.

Automated Job Updates

  • Added new global setting, Halt Automated Jobs, which allows users to temporarily halt all scheduled jobs so system maintenance can be performed.

  • Updated "NetAsset - Automate Jobs MR" processing to apply the concurrency limit on the automated job script deployment to all the deployments on the target script's deployments prior to kicking off the script.

  • Added support for automating processing of NetAsset Transfer Proposals via the NetAsset - Automate Jobs MR job.

Asset Creation Updates

  • Added a new related transaction tab to the Asset, when a missing tag is found the Reprocess Tagging button will be displayed on the Asset.
  • Updated quick access button for first journal entry to default to "Capitalization" instead of "Go-Live" if > 50% of assets are locked/posted regardless of if the capitalization date is prior to the go-live date or not to facilitate easier catch up capitalization.
  • Added parameter to the Project Create Asset screen to allow for transaction dates to be filtered instead of multiple accounting periods.
  • Custom Sourcing Updates
    • Added the ability for asset creation Custom Sourcing to be filtered by the deployment of the suitelet. This allows you to have different sourcing for different (CIP vs Clearing) accounts.
    • Added the ability for asset creation Custom Sourcing to have an empty "From Field" when the "Allow Edit" option is on enabling users to enter a value to bring to the asset without the need for an underlying transaction field source.
    • Added the ability to make out-of-the-box NetSuite fields editable from the Create Assets / Build Up Assets pages via the "Allow Edit" checkbox on the Custom Sourcing record.

Build Up Updates

  • Added a global setting, Update Quantity On Build-Up, that will adjust the asset quantity when a build-up is processed based on the associated transactions quantities.

  • Updated the "Asset" field to act as a filter on the "Asset To Build Up" transaction line field when the "Asset To Build Up Pre-Determined" checkbox is checked on the Build Up Assets pages.

  • Added a Related Transaction Table to the NetAsset Revaluation Proposal form for Build Up revaluations which will show related transaction found on the revaluation proposal.  If any of the related transactions are found that there is no longer and asset on the line, the page will display a button to reprocess the tagging on the asset.

Controls Added

  • Added the abiility to have a custom Go-Live Date for each asset with the "Override Go-Live Date" field on the accounting subtab

  • Added new global setting, Allow Concurrent Processing, which grants all users the ability to run multiple jobs (e.g. schedule generation, journal processing) in parallel (after clicking through warning about potential for duplicates).

  • Added warning message when unlocking an asset that is no longer in a pending status and locking an asset that is in a pending status.

  • Added a Global Setting called "Generate Document ID on Save" which will check the Generate Document ID on Save option that can help combat duplicate document IDs when processing at higher concurrency.

Direct Expensing Updates

  • Updated Direct Expenses to use the first date of the selected transaction as the transaction date rather the current date to help customer get the posting period to match their NetSuite settings.
  • Added a pop-up modal to the "Create Direct Expense" button to allow the user to select an effective date for the direct expense(s).

Disposal Updates

  • Added support for the following Disposal Conventions driving disposal period depreciation:
    • Zero Depreciation
    • Half Depreciation
    • Full Depreciation
    • Prorated Depreciation
  • Added new global setting, Allow Override of Disposal Convention, that allows users to override the default disposal convention for the asset type at the time of disposal.
  • Added a new setting to the Asset Type record, Do Not Sync Quantity on Partial Disposal, which allows users to update the Gross Disposal Amount on a partial disposal without updating the quantity (helpful for assets with subassets that can vary in value).

Multi-Book Updates

  • Updated disposals performed on assets with multi-book alternate schedules to populate all relevant fields (including non-accounting fields like disposal reason and disposal notes) on each generated disposal proposal record.
  • Added support for True Up revaluations on multi-book assets.
  • Added support for catching up Multi-Book Reversals entries if the main schedule has already been posted without reversals for the alternate schedule book.
  • Improved handling of Subledger Reports where multiple Accounting Books belong to different alternate schedules.  You are now able to select All Schedules when selecting an Accounting Book to view the impacts.

Reporting Updates

  • Improved the exporting of the Roll Forward CIP and Balances reports when exported as the final level to show both the summary and the detail.
  • Asset Register
    • Added parent asset fields to the NetAsset Asset Register report.
    • Added the Row Number field to the Register Reports.  You are now able to add the row number field as a custom column to your report which will reflect the row number of the record in the report.

Revaluation Updates

  • Write-Up / Write-Down Updates
    • Added logic to the write-down and write-up revaluations to force the revaluation accounting to increase/decrease the gross asset value when overriding the balance sheet account to match the Fixed Asset Account.
  • True Up Updates
    • Added old asset type detail to true up revaluation reversal lines.
    • Added support for True Up revaluations on fully depreciated assets.
    • Added a new field to the Revaluation Proposal, Re-establish Go-Live Clearing Impact, to allow you to force the reset of the Go-Live Clearing Account.  When this is checked this will change the clearing amount to the new In-Service value.

Tax Updates

  • Tax Register
    • Added assets disposed prior to the completion of the first year in-service to the tax register report.
    • The NetAsset Tax Register will now only show the assets with schedule lines on or after the start of the filters.
  • Tax Year
    • Added a new field to the NetAsset Tax Year record, Tax Grouping, which will allows custom grouping that are not based on the NetSuite Subsidiary structure.
    • Added a pop-up selection on the NetAsset Tax Year to allow the user to select a specific tax payer to generate reports for.
  • Alt Schedules
    • Updated alt. schedule generation logic to always follow the depreciation convention override on the depreciation methods.
    • Added a new field on the NetAsset Asset, Ignore Tax Engine per Alternate Schedule, that will prevent the tax engine from running on the alternate schedule on a per asset basis.

Time Machine Updates

  • Updated messaging on the time machine confirmation message to be more clear about the impacts of the job.
  • Added new quick access button to global settings, Rewind Asset, which allows users to run the time machine restricted to a single asset from a controlled script deployment with separate permissions from the normal time machine used for bulk rewinding assets.
  • Updated time machine logic to trigger a full rewind if the rewind date selected is prior to the capitalization date.

Transaction Processing Updates

  • Added new action field to the Approvals page with the added ability to reject a transaction and reverse the impacts to the asset's depreciation schedule.
  • Added new fields to the NetAsset custom transactions, NetAsset Created By and NetAsset Approved By, to help facilitate custom approval processes and improve audit trail.

Transfer Updates

  • Added prior period transfers support to transfer proposals.
  • Added the ability to transfer non-list/record segment fields via custom sourcing (e.g. free-form text, integer, etc.)
  • Added functionality to update segmentation fields on the asset schedule lines when the segment is changed on the asset header outside of the normal transfer process.

Misc.

  • Added licensing tab to NetAsset Setup that displays license status and usage data.
  • Added new In-App messaging framework so release notes can be communicated directly to users via banner message.
    • Navigate to NetAsset > NetAsset Setup > System Setup and click the Messages subtab to view all prior communications.
  • Various bug fixes (see minor release notes).
  • Fully tested for the NetSuite 2025.2 release.
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