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Join us at SuiteConnect 2026 in San Francisco on April 28 Book a Meeting
With 500+ successful implementations, Folio3 helps businesses deploy and optimize NetSuite modules to improve core business operations, and help them get the maximum out of their ERP.
There is a lot that you can do with the NetSuite fixed asset management module, such as importing new assets and mid-life assets into NetSuite, creating new asset records manually or from purchases, adding expenses, and journal entries in NetSuite.
Leverage the asset tracking feature to list the depreciation and non-depreciating fixed assets, while maintaining detailed records. The module allows users to add and track assets by region, facility, department, or the assigned reporting segment. Users can also transfer assets from one subsidiary or business unit to another easily.
The fixed asset module automatically calculates depreciation expenses by using standard or custom methods and lets finance teams manage how and when to apply depreciation. It leverages usage-based methods that allow businesses not to depreciate an asset during seasonal downtime or when the equipment is offline.
With NetSuite Fixed Asset Management module, you can standardize lease accounting and stay compliant with reporting requirements. You can capture lease details while automating journal entries for lease and interest expenses. It gives real-time updates on remaining lease liabilities, that reduces manual effort and errors.
Make your business's detailed asset reporting easy using NetSuite FAM, which produces accurate financial statements that meet tax and accounting requirements while generating standard fixed-asset reports. Leverage SuiteAnalytics to slice and dice the data in multiple fields such as location, subsidiary, or other criteria.
Manual processes slow down finance teams and create unnecessary complexity. NetSuite automates asset-related workflows to boost productivity.
Keeping up with asset lifecycles is difficult without the right tools. NetSuite ensures accuracy across all stages of asset management.
Errors in applying depreciation rules can impact reporting and compliance. NetSuite ensures consistency through automation.
Managing leases at scale often overwhelms accounting teams. NetSuite automates lease tracking and expense management.
Month-end and year-end closings often drag due to manual postings. NetSuite accelerates the process by automating journal entries.
Automated multi-entity asset tracking using NetSuite Fixed Asset Management for accurate depreciation and financial visibility.
Take our customers’ words that reflect our business values and how we adhere to going above and beyond to bring results.
Folio3 quickly provided excellent BI resources to solve complex business issues integrating data from our CRM and Netsuite for important business reporting continuity in our Tableau Software reporting tool. The team’s dedication and tireless iterations resulted in finding the right solution for our reporting needs.
Justin Carter
CEO
Bank & Vogue
InGenius Prep
I know it’s been a long road but I wanted to stop & express my gratitude for all the hard work this past year. I really feel like Folio3 has helped us create an extremely powerful ERP that will provide world class reporting through automation.
Jonathon Orze
Chief Financial Officer
InGenius Prep
We at Biomason are truly grateful for Folio’s expertise, patience, & diligence in making our implementation of NetSuite a success. We really appreciate all the information sharing & responsiveness to our requirements.
Arlene Keane
Controller
Biomason
NetSuite Fixed Asset Management helps you track and manage physical assets like equipment, vehicles, or property. You can see where each asset is, what it’s worth, and how it’s changing over time.
Yes, you can organize assets by location, department, or country and apply local rules if needed. Folio3 makes sure everything is set up correctly, whether you’re managing assets across offices, warehouses, or countries.
Visibility improves when you extend FAM beyond just depreciation.
Yes, it supports many methods like straight-line, double-declining, and others. You can choose the method that fits your accounting needs.
Once depreciation journals are posted, you can’t simply edit the start date. The workaround is to reset or recreate the asset.
NetSuite FAM doesn’t allow mid-stream lifetime changes easily. The common approach is to recalculate depreciation through a new schedule.
It’s generally better to stick with regular journal entries generated by FAM. Custom transactions tend to complicate searches and reporting.
Pros of FAM JEs:
Cons of Custom Transactions:
Most NetSuite implementation projects take a few weeks, depending on your setup. Folio3 walks you through the entire process, from planning to going live.
The biggest challenge is that NetSuite’s Fixed Asset Management (FAM) module is solid for simple use cases but struggles with complex scenarios.
Companies often solve this by either customizing FAM with SuiteScript or considering third-party solutions such as NetGain NetAsset.
Discrepancies usually come from vendor bill credits, adjustments, or changes in asset values. The cleanest way to reconcile is to review asset records against GL postings.
NetSuite FAM doesn’t integrate well with multi-book. If you need multiple depreciation schedules per asset, you may face issues.
FAM doesn’t create intercompany entries automatically for asset transfers. You need a workaround.
This is a known limitation of FAM. Some fields don’t map automatically to asset records.
The main risks are misaligned depreciation, missed disposals, and incomplete audit trails.
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