Fixed assets incorrect depreciated in past within NetSuite
We have identified the following issues in relation to some of our fixed assets being allocated to the incorrect ‘asset account’ and ‘depreciation account’ in Net Suite.
1. The issue is that all our assets with a name starting with ‘XXXX’ are assigned to an asset account named ‘YYYYYY’ and a depreciation account named ‘YDYDYDYDYD’, all of these assets should be allocated to the ‘OFOFOFOF’ asset account and ‘ADOFADOF’ depreciation account. This means that we have not been charging depreciation for X fixed assets since xx/xx/21.
2. Furthermore, assets with the name ‘BBFBBF’ are assigned to office equipment asset and dep’n accounts whilst assets named ‘BBEBBE’ are assigned to office fitout and office fitout dep’n accounts which is the wrong way around.
Please let us know what we should do to retrospectively correct this and ensure it is updated for the month of November?