Depreciation Methods

In the Fixed Assets Management SuiteApp, each asset must be assigned a depreciation method so that NetSuite can calculate its depreciation. You can link depreciation methods, so an asset uses one method for the first part of its life and then switches to a different method for the remaining lifetime.

The Fixed Assets Management SuiteApp lets you keep separate book depreciation and tax depreciation calculations. Book (accounting) depreciation of fixed assets is linked to journal postings and transactions in NetSuite. You can use any preconfigured depreciation method or create a new one.

Note:

The Fixed Assets Management SuiteApp doesn't support the Multiple Calendar feature and uses the standard calendar for depreciation. Using a custom fiscal calendar with FAM processes can cause data inaccuracies.

For more information, read the following topics:

• Preconfigured Depreciation Methods

• Creating a New Depreciation Method

• Depreciation Formula

For information about creating and using tax depreciation methods, see Alternate Methods (Tax Depreciation Methods).

Related Topics

• Fixed Assets Management Overview
• Preconfigured Depreciation Methods
• Creating a New Depreciation Method
• Depreciation Formula

General Notices