NetSuite Fixed Asset Management

Streamline the Entire Asset Lifecycle with Unified Cloud Software

Managing fixed assets across global business entities introduces complexities from asset allocation to depreciation methods and impairment tracking. Automating fixed asset management eliminates spreadsheet-based tracking while optimizing lifecycle management.

NetSuite Fixed Asset Management transforms this fragmentation by unifying global asset management into a single cloud platform. Beyond basic asset registers and depreciation, it delivers end-to-end automation and real-time analytics for maximum ROI.

Why Choose NetSuite Fixed Asset Management?

When integrated with global financials, NetSuite Fixed Asset Management delivers a single system to automate asset tracking and compliance globally.

  • Automate asset tracking from acquisition to depreciation to retirement
  • Maintain visibility into asset book value and depreciation schedules
  • Proactively manage maintenance, repairs, warranties and insurance
  • Ensure accounting compliance with global taxation standards
  • Report on asset performance to optimize ROI
  • Integrate seamlessly with NetSuite financials and procurement

Key Capabilities of NetSuite Fixed Asset Management

Asset Lifecycle Automation

  • End-to-end workflow from requisition to retirement
  • Custom statuses for tracking assets in system
  • Dashboards for key asset metrics and alerts

Compliance Management

  • Customizable asset types, templates
  • Auditing tools for accounting compliance
  • Global taxation support and reporting

    Depreciation Management

    • Automated depreciation calculation and journal entry posting
    • Flexible methods like MACRS, declining balance
    • Tax books for NA and international standards 

    Location Management

    • Hierarchical locations with custody tracking
    • Barcode labels and asset movement logs
    • Asset tracking by physical or financial location 

    Maintenance Management

    • Scheduled preventative maintenance workflows
    • Warranty tracking and renewal alerts
    • Repair logging tied to assets and locations

    Reporting and Analytics

    • Real-time reporting on asset ROIs
    • Custom reports and dashboards
    • Periodic snapshot reporting by book/category

    Customization and Integration of NetSuite Fixed Asset Management

    Customization

    • Custom asset object types
    • SuiteFlow for asset status workflows
    • SuiteAnalytics custom asset reporting
    • Extended asset depreciation methods
    • Custom labels and barcoding
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    Integrations with NetSuite Modules

    • Procure assets via purchase orders
    • Unified vendor and contract management
    • Single billing and invoicing for asset usage
    • Integrated budgeting planning for asset spend
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    Third-Party Integrations

    • Connectors for asset maintenance systems
    • Barcode scanning hardware integration
    • Fixed asset data warehouse reporting
    • Business intelligence tools integration
    • Legacy fixed asset data imports

    Industry-Specific Solutions

    Software/SaaS

    • IT infrastructure tracking

    • Automated software license depreciation 

    • Customer asset utilization reporting

    • Usage metering and benchmarking

    Retail

    • Store fixtures and POS hardware tracking

    • Back office asset utilization reporting

    • Lifecycle costs analysis 

    • Inventory management automation

    Nonprofit

    • Donated asset tracking       

    • Grant asset purchasing coordination

    • Fundraising equipment utilization

    • Campus and facility optimization 

    Manufacturing

    • Production equipment lifecycle management

    • Preventative maintenance scheduling

    • Machine downtime analytics

    • Asset performance benchmarking

    Media and Publishing

    • Content production hardware tracking
    • IT asset performance analytics
    • Studio and editing asset maintenance
    • Subscription equipment audits

    Professional services

    • Consultant laptop global tracking    
    • Software license optimization
    • IT asset lifecycle management
    • Utilization reporting and benchmarking 

    Wholesale Distribution

    • Warehouse equipment tracking

    • Delivery vehicle maintenance

    • Material handling equipment usage

    • Facility asset management 

    Healthcare

    • Medical device lifecycle management

    • Maintenance and warranty tracking

    • Utilization and uptime reporting

    • Replacement planning and budgeting

    Get Your Assets IN Order

    Get a personalized walkthrough of NetSuite Fixed Asset Management tailored to your industry and business needs. Our NetSuite experts will answer your questions and outline how to unify your global asset tracking. Connect with SuiteRep to tailor capabilities to your specific capital asset needs and global finance footprint. 

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    FAQs

    What is the typical fixed asset implementation timeline?

    Typical implementation timelines range from 4-12 weeks depending on number of assets, global subsidiaries, custom workflows, and integrations required. More complex implementations with over 10,000 assets across 20+ countries can take 16+ weeks.

    What fixed asset depreciation methods are supported?

    NetSuite Fixed Assets supports over 20+ depreciation methods including MACRS, Straight Line, Fixed Declining Balance, Sum of the Years Digits, Custom Defined Formulas, and more in accordance with global accounting standards like GAAP and IFRS.

    Can you track leases as fixed assets?

    Yes, dedicated lease management capabilities enable tracking assets under operating or finance leases, including automated management of lease vs buy analysis, payments, expenses, journal entries and asset retirements.

    How can you manage software licenses as fixed assets?

    Software licenses can be set up as fixed assets with automated depreciation and usage metering for monitoring license allocations across the organization. Dashboard analytics provide visibility into utilization rates.

    Does the system support fixed asset reevaluation?

    Yes, assets can be revalued periodically based on criteria like fair market value adjustments, changes in currency exchange rates, or custom indexation rules according to global accounting principles.

    What barcode scanning hardware works with NetSuite Fixed Assets?

    NetSuite offers native support for Bluetooth and wired barcode scanners from vendors like Socket Mobile, Zebra, and Hewlett Packard for scan-based asset tracking workflows including inventory counts and asset movement.

    How do you forecast future fixed asset spending plans?

    The Advanced Budgeting and Planning module enables asset-based capital expenditure planning by leveraging statistical forecasting across past actuals, current year asset financials, and user configured projections for 5–10-year periods to effectively model lifecycle analysis.