RE: Asset lifetime in midlife assets

hi I need help, hope someone can answer me.  what is the asset lifetime that I will input when uploading midlife assets? assets were already depreciated say half of its lifetime. if i will input the remaining life then the depreciation history is incorrect.

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1 Answers

When you upload the asset info use the normal asset lifetime. (36, 60,120 months-if you depreciate monthly).

When you upload the history you will be mapping Transaction amount (cum dep amount), Dep period (last Dep Period), Transaction date (Last Dep Date).  It’s this information that creates the history prior to NetSuite.  Once History is upload.  Get the depreciation schedule generated.  (fixed assets > setup > system setup > recompute dep values).

Rookie Answered on March 23, 2021.
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