Depreciation Methods
In the Fixed Assets Management SuiteApp, each asset must be assigned a depreciation method so that NetSuite can calculate the asset's depreciation. Depreciation methods can be linked, which means that an asset can depreciate using one method for the first part of its lifetime, and then switch to a different method for the remaining lifetime.
The Fixed Assets Management SuiteApp enables you to maintain 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 of the preconfigured depreciation methods or create a new depreciation method.
The Fixed Assets Management SuiteApp does not support the Multiple Calendar feature and relies on the standard calendar to process depreciation. Using a custom fiscal calendar with FAM processes may result in data inaccuracies.
For more information, read the following topics:
For information about creating and using tax depreciation methods, see Alternate Methods (Tax Depreciation Methods).