Hi, I have an request from our finance team and I am trying to figure out the best way to proceed. They would like to have a Work in Progress Asset type that is created via JE entry. This asset type does not depreciate and is mainly there for FAM Reporting purposes. The problem is that the WIP is built up by JEs each month you would have separate assets. Project A - August 2024 Asset Project A - September 2024 Asset. etc Once Project A is completed they would move the amounts over via JE. This would then create a new asset with a different asset type that does depreciate. I was testing compound assets as a way of grouping all of the Project A WIP assets together to provide an easier way to report on it, but it appears that once you create the Compound asset the asset value does not increase when you add more components to it. This seems like an odd oversight considering that NetSuite is giving the option to do it. I have tried resetting asset values, but that doesn't fix it. Has anyone else had to deal with this or is there a better way to handle this? Every solution I test seems to have odd quirks and it seems like it will require manual tweaks that seems like more work for the end user.

Prior to moving to NetAsset, we were just using projects or custom segments to tag the JE lines. Then, we have a saved search to track the total accumulated WIP per project or custom segment.

yea it seems like it would just be easier to tag the asset with a project or custom segment. I did ask them if just creating a save search would work since the FAM reporting in general is pretty bad and they already have to manually touch adjust it, but they would still like it to be within the Fixed Asset Module. I may have been able to talk them out of using compound asset since it doesn't appear to work as we expected. We might just use a compound asset at the very end to roll up all the WIP assets into 1 big asset so it will reduce the lines on reporting.