Module 0 · Lesson 2
How NetAsset thinks
Guided
Practice
Check
Not started
Restart lesson
Home
Clients
Transactions
Assets
Reports ⌄
NetAsset Sample Co.
⚙
Home
\
Assets
Firm → Client → Asset
Your Firm
the accounting practice — one login, many clients
NetAsset Sample Co.
one set of books: its own segments, its own year end
Warehouse Racking System
one thing you depreciate
Depreciation schedule
one row per period, generated — never typed
The asset lifecycle
Pending
no schedule yet
→
Capitalize
Capitalized
depreciating
→
Dispose
Disposed
off the books
Asset Actions
Status
Pending
Book
The depreciation schedule is generated when the asset is capitalized.
Period
Period Start Date
Period End Date
Gross Asset Value
Accumulated Depreciation
Depreciation Expense Activity
Transaction Type
Two things called “location”
Location Information
Street
4200 Kellway Circle
City
Addison
State
TX
Postal Code
75001
A postal address. It does not appear on any report you reconcile.
Accounting
segments live here
Department
Operations
Location
Plant 2
Class
Machinery
Project
Line Expansion
Cost Center
CC-4100
Division
Industrial
Region
Southwest
Product Line
Packaging
Eight segments. These are what every report groups and subtotals by.
One asset, more than one schedule
Book
Tax Schedule
Alt Schedule 3
Depreciation Method
Straight Line
Useful Life at In-Service
120
Gross Asset Value
24,500.00
The primary book — what the financial statements use.
Depreciation Method
MACRS 200% Half Year
Useful Life at In-Service
84
Gross Asset Value
24,500.00
Same asset, same cost, different method and life — this is the tax book.
This tab only exists because somebody typed a label for it.
Client Admin → Asset Settings → Alternate Schedule Setup
Alt. Schedule 1 Label
Alt. Schedule 2 Label
Alt. Schedule 3 Label
Type a label here and a tab appears on every asset. Clear it and the tab goes away.
Where would you go?
© 2026 Netgain Solutions
07.30.2026