Modules

Netsuite Fixed Asset Management

NetSuite Fixed Assets Management offers a robust and comprehensive solution for managing the entire lifecycle of both company-owned and leased assets. By automating key processes and integrating seamlessly with NetSuite’s core accounting functionality, businesses can enhance accuracy, ensure compliance, and reduce manual workload.

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Business Benefits of NetSuite Fixed Assets Management

NetSuite Fixed Assets Management offers a robust and comprehensive solution for managing the entire lifecycle of both company-owned and leased assets. By automating key processes and integrating seamlessly with NetSuite’s core accounting functionality, businesses can enhance accuracy, ensure compliance, and reduce manual workload. The business benefits of this module are numerous:

  • Complete Asset Lifecycle Management: NetSuite Fixed Assets Management allows organizations to manage assets from acquisition through to depreciation, revaluation, transfer, and eventual retirement. This comprehensive lifecycle management ensures that all assets are accurately tracked and managed, reducing the risk of asset loss or mismanagement.
  • Seamless Integration with Accounting: By integrating asset management directly with NetSuite’s core accounting system, the module ensures that all asset-related transactions are automatically posted to the general ledger. This eliminates discrepancies between asset records and financial statements, providing a single source of truth for all financial data.
  • Accurate Compliance and Reporting: The module supports compliance with various accounting standards, such as ASC 842, IFRS 16, and GASB 87, ensuring that businesses meet regulatory requirements. It also maintains accurate records for audits and financial reporting, reducing the risk of non-compliance.
  • Reduction in Manual Effort: NetSuite Fixed Assets Management eliminates the need for multiple spreadsheets and manual data entry, significantly reducing the potential for human error. This automation frees up valuable time for finance teams to focus on more strategic activities.
  • Comprehensive Asset Tracking: The module provides detailed tracking of both company-owned and leased assets, including their current status, location, and depreciation schedules. This comprehensive tracking enhances visibility and control over the organization's assets.
  • Flexible Depreciation Methods: Businesses can leverage a variety of standard and custom depreciation methods to suit their specific needs. This flexibility ensures that assets are depreciated accurately according to their usage and financial reporting requirements.
Client Success
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Sabbel Foods NetSuite Implementation StoryBoosted Boards NetSuite Implementation StoryKasa Living NetSuite Implementation StoryLeanTaas NetSuite Implementation StoryApex Auto NetSuite Implementation StoryHDMI NetSuite Implementation StoryLogikul NetSuite Implementation StorySoftIron NetSuite Implementation StoryPGM of Texas NetSuite Implementation StorySWIR Vision Systems NetSuite Implementation StorySabbel Foods NetSuite Implementation StoryBoosted Boards NetSuite Implementation StoryKasa Living NetSuite Implementation StoryLeanTaas NetSuite Implementation StoryApex Auto NetSuite Implementation StoryHDMI NetSuite Implementation StoryLogikul NetSuite Implementation StorySoftIron NetSuite Implementation StoryPGM of Texas NetSuite Implementation StorySWIR Vision Systems NetSuite Implementation Story
Sabbel Foods NetSuite Implementation StoryBoosted Boards NetSuite Implementation StoryKasa Living NetSuite Implementation StoryLeanTaas NetSuite Implementation StoryApex Auto NetSuite Implementation StoryHDMI NetSuite Implementation StoryLogikul NetSuite Implementation StorySoftIron NetSuite Implementation StoryPGM of Texas NetSuite Implementation StorySWIR Vision Systems NetSuite Implementation StorySabbel Foods NetSuite Implementation StoryBoosted Boards NetSuite Implementation StoryKasa Living NetSuite Implementation StoryLeanTaas NetSuite Implementation StoryApex Auto NetSuite Implementation StoryHDMI NetSuite Implementation StoryLogikul NetSuite Implementation StorySoftIron NetSuite Implementation StoryPGM of Texas NetSuite Implementation StorySWIR Vision Systems NetSuite Implementation Story

Feature & Function Sets of NetSuite Fixed Assets Management

Streamline and Simplify Asset Management with NetSuite: Complete Lifecycle Oversight, Automated Financial Integration, and Robust Reporting

Complete Asset Lifecycle Management

Acquisition to Retirement: Manage assets from initial creation, including purchase orders, through to tracking, depreciation, revaluation, transfer, and eventual retirement. This comprehensive approach ensures that all stages of the asset lifecycle are covered, providing detailed insights into asset management.


Unlimited Asset Types: Supports an unlimited variety of asset types, whether they are depreciating or non-depreciating. This includes machinery, equipment, vehicles, and leased assets, allowing businesses to manage all their assets in one centralized system.


Simplified Asset Creation: The module makes it easy to create assets by defaulting asset types and maintaining key fields and details, such as acquisition date, cost, and useful life. This streamlines the asset creation process and ensures that all necessary information is captured.

Integration with Core Accounting

Automated Asset Creation: Automate the creation of assets from purchase orders, ensuring that all assets are accounted for accurately from the moment they are acquired. This reduces manual data entry and ensures that no assets are overlooked.


Direct Posting of Transactions: Automatically post asset transactions, including depreciation and retirements, directly to NetSuite accounts. This ensures that financial records are always up-to-date and accurately reflect the organization's asset status.


Streamlined Processes: The module streamlines related processes, such as journal posting, bill posting, and purchase order billing, reducing the administrative burden on finance teams and increasing efficiency.

Comprehensive Depreciation Support

Standard and Custom Methods: Leverage built-in support for all standard depreciation methods, including straight line, fixed declining, sum of years digits, and asset usage. Businesses can also create custom depreciation methods to meet specific financial and reporting needs.


User-Defined Depreciation Methods: Customize depreciation schedules to align with unique business requirements, ensuring that assets are depreciated accurately according to their specific usage and financial impact.


Multiple Depreciations: Apply multiple depreciation schedules to a single asset for comprehensive reporting, supporting both financial and tax reporting requirements. This flexibility ensures that all necessary depreciation calculations are performed accurately.

Efficient Lease Management Compliance

Compliance with Accounting Standards: Ensure compliance with lease accounting standards such as ASC 842, IFRS 16, and GASB 87. The module standardizes lease accounting processes across the organization, ensuring that all lease-related transactions are accurately recorded.


Amortization Schedules: Easily import existing amortization schedules or create custom schedules for new leases. This feature simplifies the management of lease payments and ensures that all lease-related expenses are accurately tracked.


Automated Journal Entries: Automatically post journal entries with separate lease and interest expense, improving the accuracy and transparency of financial statements. This automation ensures that all lease transactions are recorded correctly and consistently.

Real-Time Asset and Lease Reporting

Preconfigured Reports: Run preconfigured reports to meet all fixed and leased asset reporting needs, including valuation, present value, expense, and depreciation. These reports provide comprehensive insights into the status and performance of the organization's assets.


Custom Reporting Capabilities: Create custom reports for leased payments, including net present value, interest, and principal. This flexibility allows businesses to tailor their reporting to meet specific requirements and gain deeper insights into their lease obligations.


Saved Searches: Quickly run pre-built saved searches on items such as monthly depreciation, asset additions/disposals, asset list, asset register, lease proposal history, inspection due, insurance renewal due, and expiring leases. These saved searches provide instant access to critical asset information, enhancing decision-making.

Accurate Compliance and Reporting

Compliance Tracking: Maintain accurate records for compliance with lease accounting standards and regulations, facilitating audit readiness and ensuring that all regulatory requirements are met.


Integrated Reporting: Leverage the full power of NetSuite dashboards and reports to analyze and report on company-owned and leased assets. This integration ensures that all asset-related data is readily available for financial analysis and reporting.


Automated Postings: Ensure that all asset-related transactions, including acquisitions, depreciation, revaluations, and retirements, are automatically posted to NetSuite accounts. This automation maintains the integrity of financial data and ensures that financial records are always up-to-date.

NetSuite Frequently Asked Questions

What is the NetSuite ERP system used for?

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The NetSuite ERP System is a cloud-based business management software suite that enables companies to manage their financials, operations, and customer relations in one centralized system.

Is NetSuite a CRM?

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NetSuite ERP includes a CRM module that gives companies a 360-degree view of their customers.

Is NetSuite an ERP?

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NetSuite is an ERP system that integrates all core business processes, including accounting, inventory management, order management, and shipping.

How is the NetSuite ERP Solution different from Salesforce?

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NetSuite ERP is a business management software suite that includes CRM, ERP, and ecommerce capabilities. Salesforce is a CRM software that provides sales and marketing automation capabilities.

What are the benefits of using the NetSuite ERP Solution?

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The benefits of using NetSuite ERP include:

Real-time visibility into your business: NetSuite ERP provides real-time visibility into your financials, operations, and customer relations.

A single system of record: NetSuite ERP consolidates data from multiple subsidiary companies into one centralized system.

Improved efficiency and reduced costs: NetSuite ERP automates key business processes, such as accounting, order management, and shipping.

Improved customer satisfaction: NetSuite's 360-degree view of the customer allows companies to provide better customer service.

What industries is NetSuite best for?

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NetSuite is best for companies in industries that require a robust ERP system, such as manufacturing, wholesale distribution, and ecommerce. It is also well-suited for companies that are doing business in multiple countries.

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What are NetSuite professional services?

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NetSuite professional services are a suite of services that help businesses get more out of their investment in the NetSuite software. Our team of experts can help with everything from project planning and solution design to deployment and support. We have the experience and expertise to help you make the most out of your NetSuite system.

What do NetSuite professional services include?

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The list of services included in our professional offering varies depending on your specific needs, but typically includes project planning, solution design, deployment, configuration, training, support, and ongoing managed services.

How can NetSuite professional services help my business grow?

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One of the main benefits of partnering NetSuite professional services provider like CEBA Solutions is that our team can work with you to map your current business processes and find areas where NetSuite can help improve efficiency or automation. We can also review your current configuration and settings to identify any areas where you could be getting more out of the system.

Who should use NetSuite professional services?

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Any business that is using, or considering using, NetSuite should consider our professional services. Our team can help ensure that you are getting the most out of your investment in NetSuite.

How much do NetSuite professional services cost?

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The cost of our professional services varies depending on the scope and complexity of the project. Contact us today for a custom quote based on your specific needs.

What is the difference between NetSuite implementation and professional services?

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NetSuite implementation services are focused on helping you get your system up and running. Once the system is live, our professional services team can help you optimize your use of NetSuite and ensure that you are getting the most out of the software. At times you may find you require additional support even after the initial NetSuite implementation is completed, and that’s where our professional services team comes in.

If you have any questions about our NetSuite professional services, or would like to learn more about how we can help your business, please contact us today.

What is a NetSuite health check?

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A NetSuite health check is an assessment of your current use of the software. The goal is to identify any areas where you could be getting more out of the system. Our team will review your configuration, settings, data, and processes to make sure that you are using all of the features and functionality that NetSuite has to offer in the most efficient way possible.

What is a NetSuite upgrade?

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A NetSuite upgrade is the process of upgrading your system to the latest version of the software. Our team can help you plan and execute your upgrade, and ensure that all of your data and customizations are carried over to the new version. We will also test your upgraded system to make sure that everything is working as it should be.

Do you offer NetSuite training?

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Yes, we offer both on-site and online training for NetSuite users. Our training courses are designed to help users get up to speed quickly on how to use the software, and cover all of the key features and functionality. We can also tailor our training courses to your specific needs.

Does CEBA Solutions offer NetSuite support?

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Yes, we offer both on-site and remote support for NetSuite users. Our team of experts can help with everything from troubleshooting errors to providing best practices advice. We also offer a range of managed services packages that provide ongoing support and maintenance for your NetSuite system.

Do you offer custom NetSuite solutions?

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Yes, our team can develop custom solutions for NetSuite that are tailored to your specific needs. We have a deep understanding of the software and how it can be customized to suit different businesses.

How can I learn more about NetSuite?

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Visit our blog for the latest news and tips on NetSuite, or check out our library of resources where you can find helpful guides and white papers on a range of topics. You can also sign up for one of our free webinars to get a closer look at how NetSuite works.

What are NetSuite Managed Services?

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NetSuite Managed Services provide ongoing support and maintenance for businesses using NetSuite. These services include system monitoring, user support, troubleshooting, customization, and optimization to ensure that NetSuite is functioning at its best and meeting the needs of the business.

How does NetSuite help with inventory management?

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NetSuite's inventory management system provides real-time visibility and control over inventory levels, tracking, and supply chain operations. This allows businesses to optimize inventory levels, reduce stockouts, and improve supply chain efficiency.

What is an ERP system?

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An Enterprise Resource Planning (ERP) system is a software solution that integrates various business processes and operations into a unified system. This includes functions such as finance, accounting, inventory management, human resources, and more.

What are consultancy services in relation to NetSuite?

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NetSuite consultancy services provide expert guidance and support for businesses using NetSuite. This includes implementation and customization of the system, training and support for users, and ongoing optimization to ensure that NetSuite is meeting the specific needs of the business.

Is NetSuite a good software solution?

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NetSuite is a cloud-based software solution that provides a comprehensive suite of business management tools, including financial management, inventory management, supply chain operations, customer relationship management (CRM), and more.

Is NetSuite a good Business Management System?

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NetSuite provides a unified management system that integrates various business processes and operations into a single system. This allows for streamlined operations, real-time visibility, and improved efficiency.

What is an ERP vendor?

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An ERP vendor is a company that provides Enterprise Resource Planning (ERP) systems, such as NetSuite, to businesses. These vendors provide software solutions, implementation and customization services, ongoing support and maintenance, and other services to ensure that the ERP system is meeting the needs of the business.

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