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Fixed Assets ManagementAnand Misra, Sr. Mgr. Product Marketing

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Asset Management Issues

Key Issues

One of the more common causes of the restatement of financial statements is poor fixed assets management.

Incorrect handling of depreciation, especially for an asset-intensive company, can cost companies a lot in overpayment of taxes and may also increase the risk of an IRS audit.

Depreciation is also a common cause of errors on a company's financial statements.

Managing Fixed Assets in today’s complex business climate cannot be limited to period end exercises.

What Businesses are Saying

“ It takes too long to provide required

information to the different stakeholders.”

“ I spend too much time trying to keep track of fixed asset data and

calculations in Excel.”

“ We can’t get the fixed asset

information we need from our

accounting system.”

“ We do not know where our fixed

assets are located.”

“ Were there asset dispositions we didn’t

know about?”

NetSuite Fixed Assets Management - Key Benefits

Manage the complete asset lifecycle.

Completely integrate asset management with accounting.

Produce more accurate financial reports.

Easily report on all fixed assets.

Eliminate manual effort and multiple spreadsheets.

Establish better internal controls and audit trails.

Comply with regulations.

Automate Complete Fixed Asset Lifecycle

Control all company assets transactions including asset proposal, creation, depreciation, revaluation, disposal and split.

Easily track depreciating and non-depreciating assets.

Quickly create assets based on unlimited asset types, and report on them.

Maintain all relevant details for assets, including insurance and maintenance schedules.

Use automated defaults for asset creation, depreciation and eventual retirement with minimal effort.

Comprehensive Support for Depreciation

Seamlessly Integrated with NetSuite Financial Workflow

Integrated with NetSuite business process and reporting

• Automate the creation of assets from Purchase Orders.

• Post depreciation and asset retirements directly to NetSuite accounts.

• Streamline the entire process, including journal posting, bill posting and PO billing posting.

Real-Time Asset ReportingComprehensive assets, valuation and depreciation reports.

Easily execute preconfigured reports including Asset Register, Asset Summary, Depreciation History and Report Status.

Quickly run pre-built saved searches on:– monthly depreciation– asset additions– asset disposals– period movement– asset list– asset register– proposal history– inspection due– insurance renewal due– expiring leases and more!

Sample List of Fixed Asset Customers

Thank You

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