General Guidelines for Importing Fixed Asset Records
-
Import the asset record data first, and then import the depreciation history data.
-
Asset Type is a required field for FAM asset and FAM asset depreciation history imports.
-
The Subsidiary field is a required field for FAM asset and FAM asset depreciation history imports when you are importing data into a OneWorld account.
-
You must map the NetSuite Subsidiary field to a field in your CSV file. Otherwise, the import fails.
-
The value of the subsidiary in the CSV file should be entered in this format: Grandparent subsidiary : Parent subsidiary: Child. For example, Consolidated Parent Company : UK Subsidiary : Euro Subsidiary.
-
-
The Currency Id field is a required field for FAM asset imports if Multiple Currencies is enabled. The Currency Id is the internal ID of the subsidiary’s base currency. To determine the internal ID of a currency, go to Lists > Accounting > Currencies.
-
Location, Department, and Class are required for FAM asset imports when these fields are mandatory on a journal entry.
-
If the Prior Year Net Book Value is not equal to the Asset Original Cost:
-
Set the Asset Original Cost to an amount equal to the Prior Year Net Book Value, and then import the asset record.
-
If you are also adding an alternate depreciation for mid-life assets, import the alternate depreciation method. This copies the Asset Original Cost to the asset record, and sets the amount of the Prior Year Net Book Value for the asset record and the alternate depreciation method.
-
After the asset records are imported, perform another import to update the Asset Original Cost to the correct amount. If you added an alternate depreciation, perform another import to update the Asset Original Cost on the alternate depreciation method record.
-
-
You do not have to follow the format of the system generated name for the depreciation history record. You can use any value for the Name field in the CSV file to identify the depreciation period for the depreciation history records you are importing. Avoid using a “|” separator in the name so that the record will not be picked up in the depreciation search.
-
To expose all fields for import, set the preferred form for both FAM Asset and FAM Asset Depreciation History to the standard form. Go to Customization > Lists, Records, & Fields > Record Types and click a record. Click the Forms tab and check the standard form. To maintain data integrity, reset the preferred form back to the custom form when imports are complete.
-
When upgrading to a OneWorld account, the system does not automatically populate the values in the asset record’s Subsidiary field. You can update the asset record using CSV import. You must manually add a value for the subsidiary before importing the CSV file. Alternatively, you can also contact NetSuite Professional Services to assist you with data migration.
Related Topics
- Setting Up the Fixed Assets Management System
- Setting CSV Import Preferences
- Guidelines for Importing Mid-life Asset Records
- Guidelines for Importing Fully Depreciated or Disposed Asset Records
- Importing Fixed Asset Records
- Importing Asset Depreciation History Records
- Updating Tax Methods
- Importing Tax Method Depreciation History Records
- Setting Default Values and Reference Types