NetAsset 2023.1

NETASSET VERSION 2023.1 KEY UPDATES

  • Asset Creation
    • Ability to default In-Service Date and Asset Type to proposal lines in bulk from the Create from Asset Proposals pages
    • Auto-numbering
      • Navigate NetAsset > NetAsset Setup > System Setup and select from the following auto-numbering preferences:
        • Default: Uses the prefix and the numbering conventions laid out directly on the NetAsset Asset custom record
        • Manual: Forces users to specify the asset ID manually whenever creating a new asset record
        • Custom: Allows user to specify their own asset ID prefix
        • Asset Type: Uses the asset prefix listed on the asset type record and numbers according to the number of assets within that asset type
        • Subsidiary: Uses the asset prefix listed on the subsidiary record and numbers according to the number of assets within that subsidiary
  • Build Ups
    • Build ups opened from an asset record will filter transactions by the asset’s subsidiary by default
  • Direct Expensing
    • Ability to supply an Expense Account to write off clearing impacts on the Create from Asset Proposals pages
    • To enable this feature, navigate to NetAsset > NetAsset Setup > System Setup and check the "Direct Expensing" checkbox on the System Features subtab
  • Import Tools
    • Navigate to NetAsset > NetAsset Setup > System Setupto view the new Import Tools tab which contains the following
      • CSV import templates for the import of Assets and Asset Types
      • Knowledge Base Request Page
        • Request access to this knowledge base on behalf of another user
      • NetAsset Permissions Importer Tool
        • Allows user to quickly import NetAsset custom record and custom transaction permissions to multiple roles at once
  • Reporting
    • FX consolidation added to asset register and subledger roll forward reports
    • Scripted waterfall and subledger roll forward reports updated not to forecast out depreciation for on-hold assets
  • Revaluations
    • Option to manually enter new balances on true up revaluations
  • Splits
    • Alternate schedule tabs are now updated with the proper split amounts
    • Bulk splits now available via disposal proposal CSV import
    • Clearing impacts on the split transaction are now tagged to child assets for precise tie outs
  • Tax Engine
    • Setup tax rules in order to calculate the correct depreciation method to use on tax schedules
    • Build ups and disposals on the main schedule are now automatically incorporated into the alternate schedule
  • Transfers
    • Improved defaulting of intercompany customer/vendor
    • Improved error handling for incorrectly selected intercompany customer/vendor
    • New "Auto-Eliminating" checkboxes allows user to see ahead of time whether selected intercompany payable/receivable accounts are auto-eliminating
    • Removed stipulation requiring an intercompany vendor and intercompany customer are required when using auto-eliminating intercompany receivable/payable accounts
  • Miscellaneous
    • Custom Filter Updates
      • Added the ability to set a default value for the custom filter
    • Asset Creation Custom Sourcing Updates
      • Allow field to be hidden on create asset from proposals page
      • Allow two sourcing records to source from the same field (1 editable, 1 not editable is the main use case for this)
      • Allow checkbox field custom sourcing on asset creation
    • Transaction Posting Custom Sourcing Updates
      • Account filters to be applied by account field on the asset type, not the specific account entered to avoid issues with accounts used across different fields
      • "Apply To Accounting Books" custom sourcing filter added
    • Redesigned NetAsset Setup page with more groupings so that individual settings can be found easier
    • Default Script Priority/Concurrency
      • Elect to set the concurrency (# of queues) and relative priority of all NetAsset map/reduce scripts in bulk
  • Fully tested for the NetSuite 2023.1 Release

WHAT DO YOU NEED TO DO?

Your NetSuite Administrator should follow the instructions outlined here for getting the upgrade

    • NOTE: The currency field on the asset record will get cleared out upon bundle update. A cutover script will repopulate it automatically, but the form may need to be updated to put it back into place.
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