NetAsset 2024.2

  • Asset Creation

    • Added the ability to create inventory reclass from an assembly build.

  • Depreciation

    • Added new checkbox to the NetAsset Depreciation Method, Calculate Useful Life, which gives the ability to enter a new asset without a useful life and have the useful life calculated based on how many periods it takes to fully depreciate the asset.
    • Added support for “SL” as a formula code that when placed after a conditional will refresh balances and allow for “x then straight line” depreciation.
    • Added ability to specify useful life in accounting periods for custom calendar users.
    • Added the ability to use any custom asset field in depreciation formulas by setting up custom sourcing (type: Depreciation Formula) for the field and updating the depreciation method to reference the field in the formula with curly brackets (e.g. {custrecord_ng_alt_useful_life}).
    • Updated the pro-rated depreciation convention to always apply pro-rating in period 1 - previously this did not occur with an accumulated depreciation at in-service.

  • Disposal

    • Added the ability to dispose of no-G/L impact assets.

  • Reporting

    • Added the option to include or exclude non-gl impacting assets on the asset register.
    • Improved export speed for Detail Level Register reports.
    • Improved reporting on the G/L Roll Forward report to show historical asset types based on the schedule line of the transaction.
    • Added ability to roll forward report advanced configuration to Table By "Reconciliation Account".
    • Added asset splits to record as negative values in depreciation and additions on the register reports to properly reflect the split with the child assets.
    • Updated scripted reports to pull number formatting from company preferences.

  • Revaluation

    • Added the ability to true up what the asset type of the asset should have been via true up revaluation.
    • Multi-Book Update: the “Reverse Revaluation” button on the asset record updated to always reference the main schedule revaluation. Alternate schedule revaluations must be reversed from the revaluation proposal.

  • Splits

    • Updated the split page to automatically add any custom segments (specified as such on custom sourcing records) to the child asset sublist for use on edit/create.

  • Tax

    • Added a global setting to allow bonus tax depreciation to be booked in tandem with multi-book schedules.
    • Added the ability to ignore build-ups in alternate tax schedules set by the tax year.
    • Added the ability to update the asset type via true up revaluation.
    • Added better support for 27.5 & 39 year depreciation tables for tax schedules when the tax engine is enabled.

  • Transfers

    • Added a new global setting, "Update Useful Life On Asset Type Transfers" which automates the update of the useful life upon transfer to an asset type with a different default useful life.
    • Added a new global setting, "Allow Prior Period Transfers" which allows assets to be transferred in closed periods.

  • Misc.

    • Updated help links to point to Capacity instead of Doc360.
    • Added a system control setting to disable the Netgain navigation bar.
    • Added control to prevent creation of depreciation journals where capitalization was not yet approved.
    • Added the ability to select which fields filter the to field on custom sourcing in the case when creating a single asset within the UI.
    • Added the ability to block Netgain from performing managed upgrades via new global setting, Block Managed Upgrades.
    • Added a control to prevent un-installation of the bundle if any transactions had been posted by the bundle unless new global setting, Allow Uninstalls, is enabled.
    • Added the ability to schedule various jobs like schedule generation, queue for capitalization, and monthly journal processing.
    • Various bug fixes (see minor release notes).
    • Fully tested for the NetSuite 2024.2 release.
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