NetAsset - Tax Depreciation Method Import Tool
Overview
The NetAsset Automatic Import of Tax Depreciation Methods feature enables users to import tax depreciation methods directly into NetAsset without manual CSV imports. This streamlined approach is designed for users leveraging alternate schedules or the Tax Complete add-on within NetAsset. Previously, users needed to manually import both the depreciation methods and associated table lines, which was time-intensive. The new tool provides a faster, automated way to complete this process.
Key Assumptions
- This feature applies to users who require tax depreciation methods in NetAsset.
- Users should have the Tax Complete add-on or be using alternate schedules within NetAsset for tax management.
Prerequisites
- Ensure that NetAsset is installed and configured within your NetSuite environment.
- Confirm access permissions for the Import Tools tab in the System Setup of NetAsset.
Step-by-Step Process
Navigate to Import Tool
Go to NetAsset > NetAsset Setup > System Setup>Import ToolsOpen the Bulk Tax Depreciation Methods Import Tool
On the System Setup page, select the Import Tools tab and click on Bulk Tax Depreciation Methods Import Tool to open the import page.Select Depreciation Methods
The import page will display available tax depreciation methods, including the MACRS methods and other additional options.- To Import All Methods: Click Mark All and then select Create Methods.
- To Import Specific Methods: Manually select the desired methods from the list, then click Create Methods.
Initiate and Monitor Import Process
- Once you select Create Methods, the system will begin creating the selected depreciation methods.
- The page will automatically refresh as the methods are imported, allowing you to monitor the progress in real-time.
Review Imported Methods
After completion, click into any of the newly created methods to verify the details, including depreciation method lines. These methods are now ready to be used with your tax assets.