I think you still need to import at least one "lif...
# fixed-assets-mgmtr
RJMNS
02/08/2022, 10:38 PMI think you still need to import at least one "life to date" DHR and then the automations will create the rest
l
Luis
02/09/2022, 1:17 AMSo, aside from the Asset record itself, we still need to import the DHRs separately for the past periods? Is that right? And NS, ofc, will create the future DHRs upon import of the Asset records.
Luis
02/09/2022, 10:07 AMSA 103338 doesn't seem to require it. It's confusing. I'll test it anyway but I just want to know others' experience.
r
RJMNS
02/09/2022, 7:59 PMNo, just a single DHR record that encompasses all the depreciation so far on each asset. But that's the old process, so like you said it may no longer be necessary.
l
Luis
02/10/2022, 11:08 AMIt makes sense to me now after testing.
What's the best practice related to DHRs from the old system?
1. Not import them
2. Import them since the acquisition
3. Import a lump sum depreciation history prior to transition to NS
I guess 2 is the most ideal but are historical depreciation reports really distorted if this is not followed?
r
RJMNS
02/10/2022, 9:29 PMI've always done 3. Generally no one cares about depreciation from years ago.
l
Luis
02/14/2022, 1:20 AMThanks, @RJMNS.
Luis
02/14/2022, 1:29 AMI ran into this guide which says:
If the prior year net book value is not equal to the asset original cost, set the asset original cost to an amount equal to the prior year net book value and then import the asset record.
Does that mean that the Asset Original Cost must be equal to the Prior Year Net Book Value?
For example, a fixed asset was purchased in Jan 2020 by our newly acquired subsidiary's legacy system. Original cost is 36000 with 36 month-life.
That gives me a prior year net book value of 24000 as of 12/31/21.
If I am to migrate it to NS starting 1/1/22, is my Asset Original Cost and Prior Year NBV 24,000? Based on the guide above
r
RJMNS
02/14/2022, 10:49 PMDefinitely test it, but I'd put the Asset Original Cost as the actual original cost-36k and then put in a single DHR for the 12k. Frankly I've always just ignored the Prior Year NBV field. I'm not sure it honestly does anything. It's not something I've ever worried about and it hasn't bit me yet. Could be that's outdated documentation. FAM is definitely not high on NetSuite's priority list so I could see them having some bad info in guides.
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