Hi everyone, I’d like to understand if it’s possible to manage CAPEX projects directly from the beginning in the Fixed Asset module. For example, suppose we have a CAPEX project to build a warehouse. The implementation period is around 1 to 2 years, and during this time, we make several payments in installments — through journal entries. All these costs are currently tracked in the GL account. Once the warehouse is completed and ready for use, we create a fixed asset in FAM and start depreciation from that point. 👉 Is there any way we can start managing the asset in the Fixed Asset Module (FAM) right from the beginning of the CAPEX project — even while the project is still under progress — and keep updating its value as we make payments over time, before it's fully completed and ready for use? I’m aware of the “Manage Asset Proposal” process and also of auto-creating assets from vendor bills, but both approaches still seem to start with GL and only create assets later. Any advice on best practices, or how other companies handle this CAPEX-to-asset transition in NetSuite (especially with automation or customization), would be highly appreciated.

Theoretically, you could use linked depreciation methods to achieve this. By having an initial method that does not perform any automated depreciation, you can then use the Allow Asset Value Editing preference to manually update the asset's value when posting your journals. I do not believe there is an easy way to have this automatically post to the asset without customisation. However, I would explore the idea of using asset revaluations to potentially achieve this, and weigh up which approach would be the better fit. Revaluations allow you to post a journal and change the asset’s value in a single step. Using the linked depreciation method, once the initial method expires it will link to the next depreciation method, and therefore follow the next formula of depreciation. It is also worth noting that if you use revaluations, you can adjust the depreciation method each time you revalue the asset.