NetAsset Release Notes Archive

NETASSET RELEASE NOTES ARCHIVE

Release notes highlight recent product improvements, any necessary action items, and new features to come so you can stay up to date on our product features. Use the archive page to view previous release notes.

2020.2   |   2020.1   |   2019.1

2020.2 RELEASE NOTES

UPDATES IN VERSION 2020.2

 
  • Mass capitalization of asset proposals > includes the ability to tag transactions with an asset type that will carry forward to the capitalization screen

  • True-up revaluation type > allows customers to adjust life-to-date asset values in the current period AS IF those settings had been in place since the in-service date

  • Addition of department & class filters to Netgain scripted reports

  • Ability to record impairment against a separate accumulated impairment account

  • New historical asset fields >  “Capitalized Asset Value at In-Service” and “Accumulated Depreciation at In-Service”

  • Separate record for asset disposal

  • Default residual value % by asset type

  • Usage-based depreciation impairment support

  • Alternate tax table mass generation

What DO YOU NEED TO DO?

  • Update your NetAsset bundle (Customization > SuiteBundler > Search & Install Bundles > List). Default settings should be as follows:

    • Custom Field Bundle Settings: All set to “Hide on Existing Forms”

    • Custom Lists Updates: All set to “Replace Date”

    • Custom Record Updates: All set to “Preserve Data”

    • SuiteScripts-Suitelets:

      • Waterfall Report SL & Roll Forward Report SL both set to “Do Not Update Deployments”

      • Any deployments updated with custom permissions/links should also be set to “Do Not Update Deployments”

      • All others set to “Update Deployments”

  • Update your preferred NG Asset form to use the new “Capitalized Asset Value at In-Service” and “Accumulated Depreciation at In-Service” and hide any fields that are not needed

    • Below is our recommended setup for Schedule Information and Current Financial Information:​

Schedule Information
Current Financial Information

  • Update account mappings and default residual values for the two new populated fields on the NG Asset Type record (NetAsset > NetAsset Setup > Manage Asset Types & Mappings)

    • Default Residual Value Percentage: If left blank, will default to zero

    • Accumulated Impairment Account: If unused, just map to accumulated depreciation

    • Basis Reduction Expense Account: If unused, just map to depreciation expense​

Asset Type

  • Enable the defaulting of asset types from originating transactions, apply the new bundled transaction line field “NG Asset Type” to your forms so they can be viewed and populated on the transaction record (Customization > List, Records, & Fields > Transaction Line Fields)

    • Navigate to the field record and select “Apply to Forms,” which will allow you to opt in to display the field on the desired originating forms

  • Enable the defaulting of asset types from item records to the transaction line, apply the new bundled item field “NG Asset Type” to your forms so they can be viewed and populated on the item record
     (Customization > List, Records, & Fields > Item Fields)

 

2020.1 RELEASE NOTES

UPDATES IN VERSION 2020.1

  • Generate alternate schedules in mass

  • Addition of credit bill, check, and credit card transactions as source for asset proposals/CIP

  • Improved Global Settings layout and features

  • Ability to enable or disable journal postings on transfers impacting department, class, or location

  • Department, Class, & Location filters added to scripted reports

  • Additional depreciation conventions enabled

    • Next Period

    • Mid-Month Cutoff

  • Automated capitalization & remaining depreciation calculation of mid-life assets using table-based depreciation

  • Mid-life table-based depreciation revaluation

  • Minor enhancements & bug fixes

    • Suitelet UI formatting improvements

    • Export mass processing results to .csv

    • 4-4-5 accounting normalization

    • Currency precision support

WHAT DO YOU NEED TO DO?

  • Your NetSuite Administrator should update your NetAsset bundle (Customization > SuiteBundler > Search & Install Bundles > List)

    • Customized Suitelets should be set to “Do Not Update Deployments”, including scripted reports

  • No other required actions

 

2019.1 RELEASE NOTES

UPDATES IN VERSION 2019.1

  • Bug fix to correct error with paginating on the following mass processing results pages:

    • Mass Approval

    • Mass Place In-Service

    • Mass Transfer

    • Mass Disposal

  • Improved Go-Live Error Handling

  • Go-Live Suitelet Enhancements

    • Enforcement of Go-Live Date

 

WHAT DO YOU NEED TO DO?

  • Your NetSuite Administrator should update your NetAsset bundle (Customization > SuiteBundler > Search & Install Bundles > List)

    • SuiteScripts should be set to “update deployments”

  • No other required actions

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