Can anyone help on when I add a Fixed Asset, it do...
# general
n
Can anyone help on when I add a Fixed Asset, it does not increase the fixed assets on the balance sheet?
m
review documentation on setting up a fixed asset, it is a complex record and needs a lot of values
n
did that 😞
again and again
the depreciation works, and see these entries
m
deprecation is active ?
have you checked register to see if it shows there?
if it doesnt show in register, then it is not set up
n
yes the fixed asset does show in the register list
but not on the balance sheet?
k
Adding an asset generally isn't going to change your balance sheet because in theory - they should be created from other transactions that are in the system. Uploading a mid-life asset is very different process from entering a new asset as well.
n
they are mid life assets
and new assets
r
The FAM and core NetSuite integration only goes one way, from GL/AP>FAM. Other than things in Fixed Assets>Transactions, nothing passes from the FAM module to the ledger. If you directly add an asset in the FAM module, there's no function that adds that value to your ledger automatically. You'd need to make a manual JE to do so and then you'll need to reject the proposal that results from it. As Kevin mentioned, FAM is set up expecting that Fixed Asset adds are going to originate from vendor bills and JEs. If you don't do it that way, reporting and the ledger are going to get out of sync unless you keep a really close eye on it. I'd look up Asset Proposals in SuiteAnswers. If you're not familiar, that's the mechanism NS uses to "convert" transactions to assets.