what credit account is posted to when expenses are entered on FAM assets?

AI generated answer (using internal Slack threads):

When expenses are entered on Fixed Asset Management (FAM) assets in NetSuite, the credit account that is posted to is typically the Accumulated Depreciation account. This is part of the standard accounting practice for handling fixed assets, where the asset's value is debited and the accumulated depreciation is credited. However, in some cases, such as when a credit memo is issued for a portion of the assets (like returning 4 out of 10 laptops), the credit could also go to the Expense account. This is because the returned assets are essentially reversing a portion of the expense that was previously recognized. Please note that the exact accounts involved can vary depending on your specific accounting setup and practices. It's always a good idea to consult with your accounting team or a NetSuite professional to ensure you're following the correct procedures for your organization. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******