The Fixed Assets module for Dynamics GP helps your business improve its asset management by automating the accounting processes surrounding your property. You can use Fixed Asset Management, to set up, enter, and maintain asset records. When necessary, you can add insurance and user-defined information and create additional records for each asset, including investment tax credit information and lease information.
Simplify the depreciation process with modification, recalculation, averaging, comparison and projection capabilities.
Capture asset information in multiple books, allowing depreciation to be tracked under different methods for alternative reporting needs.
Provides accurate and accessible information – capture changes necessary for tax and financial reporting purposes.
Improve efficiency by automatically connecting with Intercompany, Purchasing and General Ledger modules
In Microsoft Dynamics GP you can add an item in Payables Management or purchase an item in Purchase Order Processing and transfer this information to Fixed Assets. You also have the option of assigning multiple transactions, including both Accounts Payable and Purchase Order transactions to the same asset.
Similarly, a user can assign the same transaction to more than one assets and change transactions that have been assigned to a particular asset. However, if you assign a transaction to an existing asset, you must update the asset book information manually.
In order to enter assets in Payables Management and track them in Fixed Assets, mark the Post PM through to FA option in the Fixed Assets Company Setup window.
If you're using Payables Management, you must add at least one special account in the Fixed Assets Purchasing Posting Accounts Setup window. You can create one or more asset records from a Payables transaction in the Fixed Assets Purchasing Transactions Display window until the total amount of the line item has been applied. Choose Save in the Asset General Information window and the applied amount in the Fixed Assets Purchasing Transactions Display window will get updated. You can then view the information from the selected Payables transaction in the Asset Purchase window.
If you are interested in learning more about Fixed Assets in Microsoft Dynamics GP, join our online training on May 28, 2014 at 1:00 pm EST, where Katrina She, CMA and Application Specialist at WebSan Solutions Inc. will guide you through the processes required to enter, depreciate and retire fixed assets. You will also learn how to perform additional related functions such as changing asset information, mass changes, partial transfers and partial retirements.
View the full course outline and sign up for a live training session here:
Doriana Kote, Web Marketing Coordinator, WebSan Solutions Inc., a Channel Elite Awards Winner for 2013