3. Asset Management Issues
Key Issues
One of the more common causes of
the restatement of financial
statements is poor fixed assets
management.
Incorrect handling of depreciation,
especially for an asset-intensive
company, can cost companies a lot
in overpayment of taxes and may also
increase the risk of an IRS audit.
Depreciation is also a common cause
of errors on a company's financial
statements.
Managing Fixed Assets in today’s
complex business climate cannot be
limited to period end exercises.
What Businesses are Saying
“ It takes too long to
provide required
information to the
different stakeholders.”
“ I spend too much
time trying to keep
track of fixed asset data
and calculations in
Excel.”
“ We can’t get the
fixed asset
information we
need from our
accounting
system.”
“ We do not know
where our fixed
assets are
located.”
“ Were there asset
dispositions we didn’t
know about?”
4. NetSuite Fixed Assets Management -
Key Benefits
Manage the complete asset
lifecycle.
Completely integrate asset
management with accounting.
Produce more accurate
financial reports.
Easily report on all fixed assets.
Eliminate manual effort and
multiple spreadsheets.
Establish better internal controls
and audit trails.
Comply with regulations.
5. Automate Complete Fixed Asset Lifecycle
Control all company assets transactions including
asset proposal, creation, depreciation, revaluation,
disposal and split.
Easily track depreciating and non-depreciating
assets.
Quickly create assets based on unlimited asset
types, and report on them.
Maintain all relevant details for assets, including
insurance and maintenance schedules.
Use automated defaults for asset creation,
depreciation and eventual retirement with minimal
effort.
7. Seamlessly Integrated with NetSuite
Financial Workflow
Integrated with NetSuite business process and reporting
• Automate the creation of assets from Purchase Orders.
• Post depreciation and asset retirements directly to NetSuite accounts.
• Streamline the entire process, including journal posting, bill posting and
PO billing posting.
8. Real-Time Asset Reporting
Comprehensive assets, valuation and depreciation reports.
Easily execute preconfigured reports including Asset Register, Asset
Summary, Depreciation History and Report Status.
Quickly run pre-built saved searches on:
– monthly depreciation
– asset additions
– asset disposals
– period movement
– asset list
– asset register
– proposal history
– inspection due
– insurance renewal due
– expiring leases and more!
