Take control of your assets with NetSuite’s Fixed Assets Management
- Diego Porro
- Aug 26
- 2 min read
Managing fixed assets across their full lifecycle, from acquisition through depreciation to retirement, can quickly become complex. NetSuite’s Fixed Assets Management module streamlines this process by automating asset tracking, depreciation, lease accounting, and reporting in an integrated, cloud-based platform.
Content:
Key Benefits of NetSuite’s Fixed Assets Management
Centralized Asset Tracking
NetSuite enables businesses to maintain a centralized register of both depreciating and non‑depreciating assets, managed across subsidiaries, locations, departments, or business units. All key data, purchase cost, in‑service date, useful life, warranties, maintenance schedules, is tracked in one place, minimizing manual errors and eliminating spreadsheet chaos.
Flexible and Automated Depreciation
Forget about spreadsheets and manual depreciation. With NetSuite, you can apply standard methods like Straight Line, Fixed Declining Balance, usage-based or define your own custom depreciation schedules. The system will automatically calculate expenses and generate batched journal entries to post depreciation accurately.
Lease Accounting Made Simple
Capture essential lease details such as start and end dates, contract value, and discount rate, and let NetSuite handle lease amortization. The system posts separate journal entries for lease and interest expense, keeping your financials compliant and audit-ready.
Asset Lifecycle Management
NetSuite supports asset creation from multiple sources, through transactions such as vendor bills, purchase orders, inventory transfers, manually, or via CSV import, including mid-life assets with historical depreciation. Users can split assets, transfer them between classes, locations, or subsidiaries, revalue, or dispose of assets, all while preserving full history.
Powerful Reporting and Analytics
NetSuite Fixed Assets Management provides reports to give you deep insight into your assets. You can easily view detailed asset listings, including acquisitions, disposals, and transfers, as well as a complete asset register showing cost, accumulated depreciation, and net book value. The module also allows you to apply filters by asset type, subsidiary, location, and more, so you always have the information you need at your fingertips.
Why should businesses invest in NetSuite’s Fixed Assets Management
NetSuite Fixed Assets Management delivers clear business benefits. It enhances accuracy by reducing manual errors and ensuring consistent depreciation and asset valuation. The module improves efficiency by automating postings and reporting, saving valuable time for finance teams. It also supports compliance, maintaining audit-ready records that adhere to accounting standards. Finally, it provides scalability, enabling organizations to manage assets across multiple locations and entities without added complexity.
If your business is ready to simplify and optimize asset management, NetSuite’s Fixed Assets Management module is a must-have. Investing in a modern, automated solution will not only enhance efficiency but also deliver the visibility and compliance needed to protect your investments and support long-term growth.
Virginia C., Functional Consultant
