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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. You also can use Fixed Asset Management to complete the following tasks:
If you’re using General Ledger, you can track General Ledger information entered in Fixed Asset Management, such as additions, transfers, depreciation, retirement of assets, and other changes. If you’re using Payables Management or Purchase Order Processing, you can track assets that originate in those modules and add them as fixed assets. This manual is designed to give you an understanding of how to use the features of Fixed Asset Management, and how it integrates with the Microsoft Dynamics® GP system. To make best use of Fixed Asset Management, you should be familiar with system-wide features described in the System User’s Guide, the System Setup Guide, and the System Administrator’s Guide. Some features described in the documentation are optional and can be purchased through your Microsoft Dynamics GP partner. To view information about the release of Microsoft Dynamics GP that you’re using and which modules or features you are registered to use, choose Help >> About Microsoft Dynamics GP. The manual is divided into the following parts:
Part 1: Fixed Asset Management setupThis part of the documentation provides information about setting up your Fixed Asset Management system. This part includes the following information:
Chapter 1: Fixed Asset Management setupThe default options and information that you enter before adding fixed assets records to your system will ensure that information will be available when you set up fixed asset cards. You should first set up the Fixed Assets Fiscal Calendar and quarters. You can then set up book, class, book class, and company records. The following information is discussed:
After you’ve completed a setup procedure, you can choose File >> Print to print the setup record and verify the information. Integration with other modulesUse Fixed Asset Management to enter information about your company’s assets, such as insurance records, depreciation amount, retirements, lease information, repairs, and maintenance. The only Microsoft Dynamics GP module you’re required to use with Fixed Asset Management is System Manager. Fixed Asset Management does integrate with other modules, which, if registered, provide additional functionality to your system. General Ledger integration If you’re also using General Ledger, all Fixed Asset Management transactions that affect financial information will be reflected in General Ledger. Payables Management integration If you’re also using Payables Management, transactions that are recorded in Payables Management can update your asset records. Purchase Order Processing integration If you’re also using Purchase Order Processing, transactions that are recorded in Purchase Order Processing can update your asset records. The following diagram shows how information flows through Fixed Asset Management. Before you set up Fixed Asset ManagementBefore you can set up Fixed Asset Management, you should have completed the following company setup procedures:
If you haven’t completed each of the preceding tasks, do so before continuing. Refer to the System Setup documentation for more information. Setting up Fixed Asset ManagementYou must set up the calendar and quarter, book, class, book class and company records before you can use Fixed Asset Management. The following table provides a list of records you must set up:
After you’ve entered calendar, quarter, book, class, book class, and company records, you should complete the following procedures.
Building the Fixed Asset Management calendarUse the Fixed Assets Calendar Setup window to create multiple calendars in Fixed Asset Management. When you create a calendar, you can base the calendar on the Fiscal Period Setup window, or the calendar year. You also can create quarters for all of the years. If you selected to create a fiscal calendar, the information in the Fiscal Period Setup window is used to create fiscal periods for other years in the Fixed Asset Management fiscal calendar. Before you build the Fixed Asset Management calendar, be sure that there is at least one year set up in your system and that the years and periods are correct. To build the Fixed Asset Management calendar:
If the calendar ID has existing years assigned to it, the years set up for the calendar will be deleted. Fiscal Period Setup The new years will be built for the calendar based on the entries in the Fiscal Period Setup window. The periods of the calendar are built for the specific calendar ID. Calendar Year The new years will be built for the calendar based on a calendar year. The years and periods are built to match the Gregorian Calendar for the range entered in the Years fields. Adding years to a calendarUse the Fixed Assets Calendar Setup window to build additional years that are not set up for the calendar between the range entered in the Years fields. The existing calendar years are not deleted. Be sure that there is at least one year set up in your system and that the years and periods are correct. To add years to a calendar:
The additional years that are not set up for the calendar will be added between the range entered in the Years fields. The existing calendar years are not deleted. The years and periods are built to match the earliest year already set up for the calendar ID. Removing Fixed Assets calendarsUse the Remove FA Calendar Years window to remove all the years or selected years that have been set up for a calendar. To remove Fixed Assets calendars:
Setting up quarter recordsYou can set up quarter records to specify starting, ending, and middle dates of each quarter in a year, any time after you’ve built a Fixed Asset Management calendar. You must enter at least one year and define quarter setup records for each year if you use the mid-quarter averaging for calculating depreciation or transfer groups of assets. Use the Quarter Setup window to specify the starting, ending, and middle dates of each of the four quarters for each year in the calendar ID. To set up quarter records:
Creating a book recordUse the Book Setup window to define the books you’ll use for fixed assets reporting. For example, you can create a book for corporate reporting, earnings and profits, federal taxes, alternative minimum tax, state tax, or for any other of your company’s accounting needs. You can create up to thirty-two books for each company. If you create more than thirty-two books, you cannot use the Depreciation Process Information window, Depreciation Projection window, and the Asset Year End window. When you initially create a book record, you must select the current fiscal year, and the year must be a valid year in the Fixed Asset Management fiscal calendar. The year determines whether depreciation expense will be posted to the current depreciation expense account or to the prior year depreciation account. Each time you complete year-end processing for a book, the year will be updated. You can’t change the current fiscal year if an asset for the book has been depreciated. To see differences between the depreciation calculated using internal book rules and tax book rules, you can compare up to three books. For more information, refer to Comparing asset books. To create a book record:
Creating a class recordUse the Class Setup window to define classes and descriptions of assets. You can use classes to group assets according to account information, insurance information, depreciation rules, and other characteristics of each class for each book. You must define at least one class because you’re required to select a class when you add an asset to your records. When you add an asset record, accounts listed in the account group you specify in this window—if you use account groups—will be the default entries displayed in the Asset Account window. However, you can change the asset account group before saving the information in the Asset General Information window. If account numbers do not exist in the account group, default account entries from the Fixed Assets Company Setup window will be displayed. See Account groups and Creating an account group, for more information. You can change individual accounts for an asset using the Asset Account window or the account group ID. If you change the account group ID, the new accounts will be copied to the asset account record from the Account Group Setup window for the account group ID specified. See Changing information for a group of assets and Transferring multiple assets for information about changing account numbers assigned to groups of assets. Although it’s not required, you can enter a default insurance class ID that will be assigned to assets added using this class ID. When you add an asset and assign this class, the insurance class ID will be the default entry in the Asset Insurance window. However, you can change the insurance class ID for any of the individual asset account records. For more information, see Setting up an insurance class record. To create a class record:
Depreciation methods and calculationsFixed Asset Management supports several depreciation methods. You can use this information to determine how the assets in your book class records should be depreciated. For more information, see Creating a book class record. The special depreciation allowance is a percentage of depreciation in addition to the regular first-year depreciation amount. The special depreciation allowance is calculated before the first-year depreciation is calculated. Refer to current IRS regulations or consult a tax professional for information about what property is eligible for the special depreciation allowance, and what percentage applies. If the property is also a passenger automobile, truck, van, or electric vehicle, there are yearly limits on the amount of depreciation you can claim. These limits vary, depending on the year the vehicle was placed in service, and whether or not you claim the special depreciation allowance. The following table lists the depreciation methods and their calculations:
Amortization codesIf you’re using the Amortization depreciation method, you must select the amortization codes and calculations. Refer to the table for more information.
The Initial Allowance Percentage field in the Asset Book window can be used in conjunction with the Amortization method of depreciation. If you enter a percentage, the percentage of the cost of the asset will be included in the first year depreciation amount, in addition to the normal first year depreciation amount. Averaging conventionsAveraging conventions are guidelines for calculating depreciation in the year of the acquisition of the asset and the year of the disposal of the asset. During the first year in service, depreciation is calculated using the depreciation method and averaging convention for the asset. The resulting depreciation amount is distributed over the period of time from the date it was placed in service to the last day of the year.
Note You should use the Mid-month (1st of month), Mid-month (15th of Month), Next Month, or Full Month averaging convention only if your fiscal periods are set up to match the calendar year. The averaging convention does not change the dates an asset is retired or placed in service. The following averaging conventions are available in Fixed Asset Management.
Creating a book class recordUse the Book Class Setup window to enter specific depreciation information for each class and book combination. For example, suppose your business uses three types of books to track information for its assets—corporate books, federal tax books, and alternative minimum tax books. You must create three records in the Book Class Setup window for each asset class. You can select a switchover method—straight-line or no switch—for depreciation assets. If you choose the straight-line method, the depreciation method for the asset will change to the straight-line remaining life depreciation method, when the depreciation for an asset is greater using the straight-line method than the current depreciation method the asset is using. Switchover for the asset will occur only at the beginning of the year when the yearly depreciation rate is calculated for the next year. For more information about depreciation methods and averaging conventions, see Depreciation methods and calculations and Averaging conventions. To create a book class record:
Chapter 2: Company setup optionsYou can use the Fixed Assets Company Setup window to define up to 15 userdefined fields and to enter Fixed Asset Management information for your company. For more information, refer to Setting up user-defined field values. You also can enter additional information to use if your system is integrated with Purchase Order Processing or Payables Management.
Asset account optionIf Fixed Asset Management is integrated with General Ledger, you must mark Require Asset Account in the Fixed Asset Company Setup window, and you must enter and save asset accounts before you can create a book record for an asset. If you mark Require Asset Account, you must enter default account numbers for the company in the Default Accounts window. These accounts will be displayed for any asset account record with blank account numbers. For more information, refer to Creating an account group Marking the Require Asset Account option in the Fixed Asset Company Setup window requires that an asset account record includes all eight accounts before adding an asset book record. The asset account record will be added when the information from the Asset General Information window is added. If future fixed assets transactions will be transferred to General Ledger, mark the Require Asset Account option in the Fixed Assets Company Setup window. Asset book optionYou can mark the Auto Add Book Info option, to indicate that an asset book record should be created automatically when adding information in the Asset General Information window. The Auto Add Book Info option also is included in the Asset General information window so you can choose not to include book information when adding an asset in cases where it’s not appropriate to do so. If the Auto Add Book Info box is marked in the Book Setup window, and the asset book record for that book does not already exist, the asset book record for that book will be added automatically when the asset general information record is saved. User data optionMark to include user-defined fields in Fixed Asset Management windows. Choose the User-Defined button to open the Expand User Fields window to specify the name and format of user-defined fields. For more information, refer to Setting up user-defined field values. If the User Data Auto Format option in the Company Setup window is marked, fields without spaces in the User Field Prompt fields will be displayed in the Asset User Data window and Fixed Assets Mass Change User window. For example, if only five user-defined fields are to be used, when setting up the user fields on the Fixed Assets Company Setup window, enter spaces in the user field prompt of the fields that are not to be used. When the Asset User Data window is displayed, only the five fields that contain a user field prompt will be displayed. Purchasing optionsIf you’re using Purchase Order Processing or Payables Management, you can update Fixed Asset Management information by creating entries in those modules. The following options are available in the Fixed Assets Company Setup window. Post PM through to FA Mark this option if you’re using Payables Management. Fixed Asset Management will be updated if the account number entered on a PURCH type distribution line in Payables Management matches one of the account numbers in the Fixed Assets Purchasing Posting Accounts Setup window. Post POP through to FA Mark this option if you’re using Purchase Order Processing.
Include Matching Invoice Mark this option if you’re using the Post POP through to FA option and if a separate record should be created for each receipt line matched with an invoice amount that is different from the receipt amount. Fixed assets purchasing transactionsIf Fixed Asset Management is integrated with Payables Management or Purchase Order Processing, information from those modules is transferred to the Fixed Assets Purchasing Transactions window. The information will be stored in the Fixed Asset Management purchasing transactions table until you complete one of the following steps:
• Delete all transactions that have been fully applied to assets where the unapplied amount is zero. For more information, refer to Deleting fixed assets purchasing transactions. Setting up company recordsUse the Fixed Assets Company Setup window to create user-defined fields, enter information if your system integrates with Payables Management or Purchase Order Processing, and select default guidelines for your system. Refer to Using Fixed Asset Management with Payables Management and Using Fixed Asset Management with Purchase Order Processing for more information. To set up company records:
Chapter 3: Optional setup proceduresDepending on how your business is structured, you might want to set up additional records, such as account groups, posting accounts, insurance classes, lease company records, and location records. The following information is discussed:
Account groupsAlthough you’re not required to set up account groups, using them can speed up the process of entering account records when you add assets to your system. For instance, you can define an account group for each class of assets that you set up using the Class Setup window, and then apply the default account group to assets you add to the class. When you add or change an individual asset, you will use the Account Group ID field in the Asset General Information window to add or change account group information for the asset. You also can use the Account Group ID field in the Asset Account window when changing an individual asset. If you’re not using asset accounts, unmark the Require Asset Account option in the Fixed Assets Company Setup window so that you’re not required to enter account information. If you don’t use account groups in your system, you can set up default accounts in the Fixed Assets Company Setup window and then apply an account record to each asset you add to your system. After viewing default accounts in the Asset Account window, you can change the account information, if necessary. Refer to Chapter 17, “Financial detail file activity,” for more account information. You can select up to eight of the following accounts for each account group: Depreciation Expense Used to record current year depreciation expense. Depreciation Reserve Used to record depreciation reserve or accumulated depreciation. Prior Year Depreciation Used to record any depreciation expense that relates to years prior to the current fiscal year. This account number might be the same account specified as the depreciation expense account. Asset Cost Used to record the cost of an asset. It is debited when you add an asset and is credited when you retire an asset. It also is debited or credited when you change the cost of the asset. Proceeds Used to record the sum of Cash Proceeds and Non-Cash Proceeds when an asset is retired or disposed of. Usually, the cash receipt for the disposal is recorded somewhere else in the accounting process, like Bank Reconciliation cash receipts or Receivables Management cash receipts, if you’re using these modules. These processes would typically post a debit amount to the actual general ledger cash account. The offsetting credit entry amount would be posted to the account entered in the proceeds account. When the retirement transaction is posted from Fixed Asset Management, the proceeds account will be debited. Recognized G/L Used to record recognized gain or loss that is calculated when you dispose of or retire an asset. Non Recognized G/L Used to record the non-recognized gain or loss that is calculated when you dispose of or retire an asset. Clearing If this account is used as a “true” clearing account, it is debited in General Ledger for the PURCH type distribution line in the Purchasing Distribution Entry window when you post in Payables Management or Purchase Order Processing. This account is credited in General Ledger when an asset is added and credited or debited when the asset cost is changed to offset the cost entry. If the balance in the clearing account is zero at the end of each period, items in Purchasing Order Processing or Payables Management that need to be capitalized were added as fixed asset records. If Fixed Asset Management should not affect General Ledger when assets are added to your system, enter the same account in the clearing account that you enter in the asset cost account. Creating an account groupUse the Account Group Setup window to define groups of Fixed Asset Management accounts. For more information about using account groups in your company refer to Account groups. To create an account group:
For a description of each account, refer to Account groups. Entering fixed assets posting accountsIf you’re also using Payables Management or Purchase Order Processing—and have marked the by Account option in the Fixed Assets Company Setup window—you must set up accounts that will determine how and if fixed assets capital acquisition transactions will be posted to Fixed Asset Management when you enter vouchers in Payables Management or receipts in Purchase Order Processing. Fixed Asset Management will be updated if the account you specify in a purchasing transaction also exists in the Fixed Assets Purchasing Posting Accounts Setup window. Before you enter posting accounts, you must mark the following options in the Fixed Assets Company Setup window:
These accounts are not used by Purchase Order Processing if you mark the by Receipt Line option in the Fixed Assets Company Setup window. Refer to Purchasing options for more information. Use the Fixed Assets Purchasing Posting Accounts Setup window to enter account numbers that determine if a fixed asset recorded in Payables Management or Purchase Order Processing also will be posted to Fixed Asset Management. To enter fixed assets posting accounts:
Setting up an insurance class recordYou can set up insurance classes to group and record assets according to similar insurance inflation and depreciation rates. After you’ve set up an insurance class, you can assign the insurance class to asset classes in the Class Setup window. When you add an asset record to your system, the insurance class that you enter in the Class Setup window will be the default entry for the asset in the Asset Insurance window. Use the Insurance Setup window to enter insurance class ID records. To set up an insurance class record:
Creating a lease company recordUse the Lease Company Setup window to specify which companies you can lease assets from. Lease companies that you create here will be displayed in the Asset Lease window. Although it’s not required, you also can assign a vendor ID to the lease company. Vendor IDs displayed in this window were set up in the Vendor Maintenance window in Payables Management. To create a lease company record:
Creating a location recordUse the Location Setup window to define valid locations for your company. Entries you make for city, county, and state codes are optional, but the information might be useful to include on property tax or other report. Use the Asset General Information window to assign a location ID to an asset record. To create a location record:
Creating a physical location recordUse the Physical Location Setup window to define physical locations. Physical location information isn’t required to set up asset records in the Asset General Information window. However, use this window to set up physical location IDs. Any location IDs you enter in this window first must be set up using the Location Setup window. For more information, refer to Creating a location record. To create a physical location record:
Creating a retirement codeUse the Retirement Setup window to define retirement codes that you can enter when disposing of assets. You must define retirement codes before you can enter retirement information for an asset. Retirement codes also can be useful for reports. To create a retirement code:
Creating a structure IDYou can define structure IDs to provide additional information about assets when you set them up using the Asset General Information window. For example, you could assign assets to cost centers. Use the Structure Setup window to define structure IDs that can be entered when adding asset general information. To create a structure ID:
Setting up user preferencesYou can use the Fixed Assets User Preferences window to display the path settings to specific import and export files used by Fixed Asset Management. This information is in the Dex.ini file for each workstation, but you can change it in this window. If a field is left blank in the Fixed Assets User Preference window, the default value from the installation process will be displayed in the field. As each process is run, the last value used will be displayed in the field. Default import and export file names and descriptions are listed in the following table:
To set up user preferences:
Setting up user-defined field valuesYou can create default values for user-defined fields one through ten in the Expand User Fields window. You can then select these values in the Asset User Data window. If the values are dates, you can verify the information. To set up user-defined field values:
Part 2: Cards and integrationThis part of the documentation provides information about asset records. It also explains how to import information from other sources and how Fixed Asset Management integrates with other Microsoft Dynamics GP modules. This part includes the following information:
Chapter 4: Fixed Asset Management cardsYou can create records for each asset that include account, depreciation, insurance, user data, and general information. You must create an asset general information record before adding any other records for the asset. Some of the default options and information that you entered when setting up Fixed Asset Management will be displayed when you create asset records. You can accept these entries or enter other information. The following information is discussed:
Creating an asset recordUse the Asset General Information window to enter an asset general information record for each asset in Fixed Asset Management. If you’re using Payables Management or Purchase Order Processing, you can enter information in Purchase Order Processing or Payables Management, and then update the information in Fixed Asset Management. Refer to Using Fixed Asset Management with Payables Management and Using Fixed Asset Management with Purchase Order Processing for more information. When you enter an asset ID, you also must enter a suffix for it. The asset ID is used throughout Fixed Asset Management to identify assets; the suffix is used to identify components of assets. The default suffix is 1. You can accept the default suffix or enter or select a different one. Only a few of the fields in the Asset General Information window are required: Asset ID, Description, Class ID, Type, Property Type, Acquisition Date, and Quantity. You have the option to enter information in the other fields in the window. To create an asset record:
A default asset ID displays if you marked Auto Generate Next Asset ID and entered a next asset ID in the Fixed Assets Company Setup window.
Adding asset records from other modulesIf you are using Payables Management or Purchase Order Processing, you can create asset records from information entered in these modules. Refer to Chapter 6, “Integration,” for more information about integrating Fixed Asset Management with other Microsoft Dynamics GP modules. Modifying an asset account recordUse the Asset Account window to modify an asset account record. You can change the account numbers to be used when posting information for each asset. You can’t create a new account in this window, only assign existing accounts to the asset. No accounting entry is automatically made if you change an account here. If you change the account by using the Fixed Assets Mass Transfer window instead, you can enter a transfer date and entries are made based on that date. For more information, see Transferring multiple assets. To modify an asset account record:
Class IDs and account groupsWhen you create a general information record for an asset, you must assign the asset to a class ID. To assign an account group with up to eight account numbers to each class ID, refer to Creating a class record. You can change the account group before saving the asset general information record. Accounts in the account group will be saved in the asset account record when you add asset general information. If you don’t enter accounts in the account group the company default accounts selected in the Fixed Assets Company Setup window will be displayed. The account group ID in the asset account record is displayed only before the asset account record is saved. After you save the asset account record, you can enter a new account group. These new accounts will be used for all future processing for the asset. Creating an asset book recordUse the Asset Book window to add asset book records and enter depreciationrelated information. Default entries for information, such as the date an asset was placed in service, depreciation date, original life, and depreciation method, averaging convention, and switchover method, will be displayed; however, you can change any of the information in the Asset Book window. You can choose the Distribution button to view and modify the distribution information that will be saved in the Financial Detail table for transactions entered in this window. You must have completed the following steps before entering information in this window.
A book class record must exist for the book being created for the class assigned in the Asset General Information window for this asset. For example, if the corporate book for this asset is being created and the class ID in the Asset General Information window for this asset is 101, there must be a book class record for class 101, book ID corporate. Refer to Creating a book class record for more information. To create an asset book record:
Chapter 5: Additional Fixed Asset Management cardsYou can create additional records for each asset that can include U.Ss investment tax credit, insurance, lease, and user-defined information. Some of the default options and information that you entered when setting up Fixed Asset Management will be displayed when you create asset records. You can accept these entries or enter other information. The following information is discussed:
Using Section 179 Expense DeductionUS Tax Section 179 Expense Deduction allows expensing all or a portion of the cost of an asset in the year of acquisition, rather than depreciating the cost over the life of the asset. Any portion of the asset cost taken as Section 179 cannot be taken also as depreciation. Any portion not expensed as Section 179 is depreciated over the life of the asset. The depreciable basis—reflected in the Net Cost Basis field in the Asset Book ITC window and in the Cost Basis field in the Asset Book window—is reduced by the Section 179 amount. Certain restrictions and rules apply, including:
If the entire cost of an asset is recorded as a Section 179 expense, the depreciable cost basis of the asset is reduced to $0 and the asset is marked fully depreciated. The Depreciated to Date field in the Asset Book window should be changed to the last day of the year. The cost basis for the asset book reflects only the depreciable basis. Therefore, the Original Cost field in the Asset Book ITC window should be referenced when reporting on the acquisition cost of Section 179 assets. For example, to determine the total of all eligible Section 179 acquisitions for the year you need to consider the total acquisition costs for the year. The total acquisition cost is the sum of original cost in the Asset Book ITC window, if it exists, and the cost basis in the Asset Book window, when an original cost is not available. Creating an asset book ITC recordUse the Asset Book ITC window to add US tax S179 information, US investment tax credit (ITC) information, and make other adjustments to the cost basis of an asset. The default original cost basis and net cost basis values will be equal to the cost basis of the asset book record that you selected. When you save the record, the Net Cost Basis field is calculated as follows: Original Cost Basis – Section 179 Exp. Ded. – ITC Cost Red. Amount + or -Misc. Cost Adjustment You can add investment tax credit information in the TEFRA, ITC Taken, ITC Allowed, and ITC Recapture fields. This information isn’t used for any calculations, although it might be useful to include on reports. To create an asset book ITC record:
Adjusting the cost basis to equal the net cost basisIf the data in the Net Cost Basis field in the Asset Book ITC window does not equal the data in the Original Cost Basis field, the cost basis will be adjusted to match the net cost basis. When you save an asset book record, you also must select a depreciation recalculation option for that asset. You can choose from the following options: Reset Life Recalculates depreciation from the date it was placed in service to the date the asset has already been depreciated to. If there are adjustments to the depreciation for any period, they will be saved and displayed in the Asset Book window. Reset Year Recalculates depreciation from the beginning of the year to the date the asset has already been depreciated to. If there are adjustments to the depreciation for any period, they will be displayed in the Asset Book window. Recalculate Calculates a new rate of depreciation using the new cost basis data, but does not make adjusting entries for depreciation already taken. The new rate of depreciation will be used the next time the depreciation routine is completed. Creating an asset insurance recordUse the Asset Insurance window to record insurance information for an asset. You can enter a replacement cost, a reproduction cost—the amount it would take to replace the asset, not including depreciation considerations—and an exclusion amount and type. To create an asset insurance record:
Creating an asset lease recordUse the Asset Lease window to create a lease record for any assets that are leased by your company, such as a car or office furniture. To create an asset lease record:
Creating an asset user-defined recordUse the Asset User Data window to create up to 15 user-defined asset data fields to track additional information for an asset. For example, you could save asset characteristics for a computer, such as hard disk size, processor size, and the operating system. For more information, refer to Setting up user-defined field values. To create an asset user-defined record:
Chapter 6: IntegrationYou can add an item in Payables Management or buy an item in Purchase Order Processing and transfer that information to Fixed Asset Management. To transfer information, Fixed Asset Management must be installed on the same machine that Payables Management transactions or Purchase Order Processing receiving transactions are posted from. You can assign more than one transaction, including both Payables Management and Purchase Order Processing transactions, to the same asset. You also can change transactions that have been assigned to an asset and assign the same transaction to multiple assets. If you assign a transaction to an existing asset, you must update the asset book information manually. For information about the integration with General Ledger, refer to Chapter 14, “General Ledger integration.” The following information is discussed:
Using Fixed Asset Management with Payables ManagementTo enter assets in Payables Management and track them in Fixed Asset Management, mark the Post PM through to FA option in the Fixed Assets Company Setup window. For more information, refer to Purchasing options. If you’re using Payables Management, you must add at least one special account in the Fixed Assets Purchasing Posting Accounts Setup window. When you create an invoice in Payables Management for an asset item, the account entered on the PURCH-type distribution line in the Payables Transaction Entry Distribution window must match an account in the Posting Accounts Setup window. You can create one or more asset records from a Payables Management transaction, in the Fixed Assets Purchasing Transactions Display window until the total amount of the line item has been applied. The applied amount in the Fixed Assets Purchasing Transactions Display window will be updated when you choose Save in the Asset General Information window. You can view the information from the selected Payables Management transaction in the Asset Purchase window. The following table displays the information that’s transferred to Fixed Asset Management from Payables Management.
Cost If the payables transaction uses Multicurrency Management, the following fields are transferred:
For more information about setting up the integration between Fixed Asset Management and Payables Management, refer to the following information: Entering fixed assets posting accounts and Deleting fixed assets purchasing transactions. Adding asset records from Payables ManagementIf Post PM through to FA is marked in the Fixed Assets Company Setup window, you can create a Fixed Asset Management record using information that’s been entered in Payables Management. You can select one or more Payables Management transactions for each asset record. Use the Asset General Information window to create an asset record. Use the Fixed Assets Purchasing Transactions window to transfer information from transactions created in Payables Management to asset records in Fixed Asset Management. Only a few of the fields in the Asset General Information window are required. The required fields are:
You have the option to enter information in the other fields in the window. To add asset records from Payables Management:
A default asset ID displays if you marked Auto Generate Next Asset ID and entered a next asset ID in the Fixed Assets Company Setup window.
If the originating unapplied value for a specific asset is zero cost or less, and Delete Purchasing Transactions Immediately is marked in the Fixed Assets Company Setup window, the transaction will no longer be displayed in the Fixed Asset Purchasing Transactions window. Using Fixed Asset Management with Purchase Order ProcessingYou can create one or more asset records from a purchase order transaction displayed in the Fixed Assets Purchasing Transactions Display window until the total amount of the line item has been applied. The applied amount in the Fixed Assets Purchasing Transactions Display window will be updated when you choose Save in the Asset General Information window. You can view the information from the selected Purchase Order Processing transaction in the Asset Purchase window. The Purchase Order Processing transaction is transferred to Fixed Asset Management when the transaction is posted. To transfer the transaction information when a specific account is selected, choose the by Account option in the Fixed Assets Company Setup window. To transfer specific line transaction information, choose the by Receipt Line option in the Fixed Assets Company Setup window. By Account You must designate the accounts that will indicate the integration by entering them in the Post Accounts Setup window. When you create a purchase order, the account you enter on the receipt or the matching transaction must be an account set up in the Post Accounts Setup window. By Receipt Line An asset record is created from an item when the receipt is posted. When you post a receipt, a separate integration record is created in Fixed Asset Management for each receipt line that’s marked as a capital item in the Receivings Item Detail Entry window. You can enter information tracked in the Asset General Information window for each receipt line when you enter receivings transactions in the FA PO Additional Information window. To transfer a transaction to Fixed Asset Management using a receipt with a matching invoice, the cost on the invoice must be different than the cost on the receipt. The amount of the difference will be the amount included in the transaction. If you’ll be receiving more than one item on the same receipt line (quantity is greater than 1), you can mark the Create Multiple Fixed Assets option in the FA PO Additional Information window to create a separate transaction for each item. A separate transaction will be created for each item with the acquisition cost equal to the unit cost of the item. Additional information entered in the FA PO Additional Information Window will be duplicated for each record. If you’re using landed costs, the landed costs that have been assigned to purchase order items or receivings line items will be transferred with the item cost when the purchase order transaction creates an asset record. Integration options for Purchase Order ProcessingThe following table explains the effect that various options in the Fixed Assets Company Setup window, the FA PO Additional Information window, and the Receivings Item Detail Entry window have on the integration between Fixed Asset Management and Purchase Order Processing.
For more information about setting up the integration between Fixed Asset Management and Purchase Order Processing, refer to the following information:
Adding asset records from Purchase Order Processing—by Account optionTo enter assets in Purchase Order Processing and transfer them to Fixed Asset Management based on a specific General Ledger account number, mark the Post POP through to FA option in the Fixed Assets Company Setup window and select by Account. For more information, refer to Purchasing options. If Post POP through to FA is marked in the Fixed Assets Company Setup window, you can create an asset record in Fixed Asset Management using information that’s been entered in Purchase Order Processing. The following table displays the information that’s transferred to Fixed Asset Management from Purchase Order Processing.
Cost If the purchasing transaction uses Multicurrency Management, the following fields are transferred.
Use the Asset General Information window to create an asset record. Use the Fixed Assets Purchasing Transactions window to transfer information from transactions created in Purchase Order Processing to asset records in Fixed Asset Management. To add asset records from Purchase Order Processing—by Account option:
If the originating unapplied value for a specific asset is zero cost or less, and Delete Purchasing Transactions Immediately is marked in the Fixed Assets Company Setup window, the transaction will no longer be displayed in the Fixed Asset Purchasing Transactions window. You can enter additional information for that an asset in the FA PO Additional Information window before the Purchase Order Processing transaction is posted to General Ledger. You can open this window only if by Receipt Line is marked in the Fixed Assets Company Setup window. The information you enter in the FA PO Additional Information window will be displayed in the Asset General Information window. To add asset information after receiving purchasing transactions:
Adding asset records from Purchase Order Processing—by Receipt Line optionTo enter assets in Purchase Order Processing and transfer them to Fixed Asset Management by identifying specific transaction line items as capital items, mark the Post POP through to FA option in the Fixed Assets Company Setup window and select by Receipt. For more information, refer to Purchasing options. If by Receipt line is marked in the Fixed Assets Company Setup window, you can create an asset record in Fixed Asset Management using information that’s been entered in Purchase Order Processing. The following table displays the information that’s transferred to Fixed Asset Management from Purchase Order Processing.
If the purchasing transaction uses Multicurrency Management, the following fields are transferred.
Assets = No) Yes) If you’re using Purchase Order Processing and the Include Matching Invoices option is marked in the Fixed Assets Company Setup window the same fields as the receipt will be updated in Fixed Asset Management except for the following fields:
Cost) * Quantity Invoiced The Include Matching Invoices option determines the difference between an invoice amount and a receipt amount. Use the Asset General Information window to create an asset record. Use the FA PO Additional Information window to transfer information from Purchase Order Processing to asset records in Fixed Asset Management. To add asset records from Purchase Order Processing—by Receipt Line option:
If the originating unapplied value for a specific asset is zero cost or less, and Delete Purchasing Transactions Immediately is marked in the Fixed Assets Company Setup window, the transaction will no longer be displayed in the Fixed Asset Purchasing Transactions window. Using Fixed Asset Management with Multicurrency ManagementYou can use a currency other than the company’s functional currency to record asset acquisitions and disposals. The functional currency will be calculated based on the appropriate exchange rates. If applicable, appropriate euro calculations will be made. The following fields have multicurrency functionality:
If a multicurrency transaction originated in Payables Management or Purchase Order Processing, all appropriate exchange values will be transferred to Fixed Asset Management. Only the functional amount is saved with each asset book record and only functional amounts are transferred from Fixed Asset Management to General Ledger. Mark the Multicurrency box in the Report Options window to print multicurrency versions of these reports:
Chapter 7: Asset importIf you have asset data in another fixed assets system or a different source, you can import asset records and balance information. You can import new asset records, asset book records, and insurance, lease, and user-defined information into Fixed Asset Management. You also can import information to make changes to the data for an existing asset record. The following information is discussed:
The following guidelines pertain to importing asset information into Fixed Asset Management from another source.
For example, after importing the following information, you can view the information in the Asset General Information window. Three records will be created, but two of the records will have the same asset ID and different suffixes.
You must import information into specific columns. For information about field positions in the import file, refer to Field mappings for importing asset information. If you do not import data for an optional field, you must leave that column blank and not enter information for another field. Importing asset recordsYou must mark the All Asset Info option in the Asset Import/Export window to import asset information or make changes to existing asset information. When you import new asset information into the Asset General Information window, an asset book and financial detail information will be created for each book if the following conditions are met:
To import prior depreciation balances, unmark Auto Add Book Info for all Book Setup records in the Fixed Assets Company Setup window. We recommend that you import several small files rather than one large file. You also should import the information to a test company to view the imported results. To import asset records:
If a problem error occurs while running the macro that imports the data, information added prior to the problem does not have to be imported again. Creating a new book record for existing assetsUse the Asset Import/Export window to create a new book record for an existing asset. You must export the existing asset ID and suffixes to a table. In the table, you can add the window identifier and the new book ID. When you import the modified table, asset book records will be created for the new book. To create new book records you must first set up the book ID, class ID, and book class ID records. Refer to Creating a book record, Creating a class record, and Creating a book class record for more information. Be sure that the Auto Add Book Info option in the Fixed Assets Company Setup window is not marked when importing information to create asset books. To create a new book record for existing assets:
You can import data into multiple Fixed Asset Management tables. However, you cannot import data into any Fixed Asset Management setup tables. The data that you import will be displayed in the following Fixed Asset Management windows:
The following table displays the fields included in the Asset General Information window, their field types, length, and additional default entry information. If you don’t accept the default value for a field, you must supply a specific value for that field. For more information, refer to Field values.
(MMDDYY or MMDDCCYY) Year (MMDDYY or MMDDCCYY) Year (MMDDYY or MMDDCCYY) Year (MMDDYY or MMDDCCYY) Year (MMDDYY or MMDDCCYY) Year Currency (MMDDYY or MMDDCCYY) Asset Book window fieldsThe following table displays the fields included in the Asset Book window, their field types, length, and additional default entry information. If you don’t accept the default value for a field, you must supply a specific value for that field. For more information, refer to Field values.
BOOK (MMDDYY or MMDDCCYY) Or YY = System Year (MMDDYY or MMDDCCYY) = System Year Percentage Amount Allowance Allowance Percentage Indicator Asset Lease window fieldsThe following table displays the fields included in the Asset Lease window, their field types, length, and additional default entry information. If you don’t accept the default value for a field, you must supply a specific value for that field. For more information, refer to Field values.
Asset Insurance window fieldsThe following table displays the fields included in the Asset Insurance window, their field types, length, and additional default entry information. If you don’t accept the default value for a field, you must supply a specific value for that field. For more information, refer to Field values.
Asset User Data window fieldsThe following table displays the fields included in the Asset User Data window, their field types, length, and additional default entry information. If you don’t accept the default value for a field, you must supply a specific value for that field. For more information, refer to Field values.
Field valuesIf you supply a value instead of accepting the default value for certain fields, you must supply a specific value for that field. The following table displays the values you can choose from when importing field information. For example, for the Asset Type field, to import the value Leased, import LSE. The window containing the field also is displayed.
Housing Methods Life Life
Part 3: Asset recordsThis part of the documentation provides information about maintaining asset information. It also explains how to use asset groups to make maintaining asset records easier. This part includes the following information:
Chapter 8: Asset groupsYou can group assets by specific characteristics and then use those groups to change, transfer, retire, or depreciate the assets in the groups. You also can use asset groups to project depreciation for the assets. The following information is discussed:
Searching for assetsUse the Asset Group Search window to select criteria from specific asset fields when building an asset group. Active assets that match the selection criteria will be included in the asset group. You can add additional assets to the group by building the asset group again with up to five different selection criteria. To add an asset to the group, all field information must match the selection criteria, and then you must build the group using each set of criteria. The following examples explain the difference between the types of logic used to select assets. “And” logic To build an asset group that includes all assets with the same asset ID and the same class ID, enter the following information in the Asset Group Search window. Assets with both the matching asset ID and the matching class ID will be displayed in the Select Assets window.
“Or” logic To build an asset group to include assets with either a specific asset ID or a specific class ID, enter the following information in the Asset Group Search window. Assets with the matching class ID will be displayed with the assets that have the matching asset ID.
Building an asset groupUse the Select Assets window to build a new asset group or rebuild an existing group. You can use asset groups to easily maintain assets. Asset groups are saved on a user-by-user basis. For example, if user A creates an asset group, user B will not see that asset group anywhere in Fixed Asset Management. To build an asset group:
Viewing assets in groupsUse the Select Assets window to view assets that are part of an asset group. You can sort assets and select assets to view based on common characteristics or a range of information. To view assets in groups:
Importing data to create an asset groupUse the Select Assets window to import data to create an asset group. For example, you can import asset information for new assets with the same physical location ID from a source such as a bar code reader. The import file you use must be in either a comma- or tab-delimited format. To import data to create an asset group:
Deleting an asset groupUse the Select Assets window to delete an asset group. You also can remove an asset from the group. The assets in the group will not be deleted—only the asset group will be deleted. To delete an asset group:
Removing assets from a groupUse the Select Assets window to remove all the assets from a group without deleting the group. See Building an asset group to rebuild the group. To remove assets from a group:
Chapter 9: Asset maintenanceYou can change information for an asset or group of assets. Some fields are depreciation-sensitive, which means that if you change the information in that field, depreciation needs to be recalculated. The following information is discussed:
Use the Asset General Information window to make changes to information in asset records and book records. You also can use this window to open other windows and make changes in those windows. If you change the cost basis of the asset, the Original Cost Basis field in the Asset Book ITC window will be adjusted by the amount of the change. To change asset information:
Note When you save changes to the Class ID in the Asset General Information window, the accounts associated with the new Class ID are also applied to the asset record. The changes are reflected in the Asset General Information and the Asset Account windows for the affected asset, even if you make no changes in the Reset Asset Class ID window. Recalculating depreciationWhen you make changes to specific fields in an asset book record, depreciation is recalculated. The following fields affect depreciation:
There are three ways depreciation can be recalculated: Reset Life Recalculates depreciation from the date it was placed in service through the date the asset already has been depreciated. Depreciation adjustments will be made for each period, but the depreciation does not have to be posted to General Ledger for each of these periods. You can use the Fixed Assets General Ledger Posting window to select a range of periods from the financial detail file, then post the entire amount to the period of the transaction date. Reset Year Calculates a new yearly depreciation rate and uses the new rate to recalculate depreciation from the beginning of the current fiscal year—defined in the Book Setup window—through the date the asset already has been depreciated. This depreciation does not have to be posted to General Ledger for each period. You can use the Fixed Assets General Ledger Posting window to select a range of periods from the financial detail file, then post the entire amount to the period of the transaction date. Recalculate Calculates a new yearly depreciation rate as of the beginning of the current fiscal year defined in the Book Setup window. However, calculations are not based on the new rate until the next time depreciation is taken on the asset. The current year-to-date depreciation amount is not affected. The difference between the new yearly rate and the current year-to-date depreciation amount will be allocated over the remaining time in the current fiscal year.
Use the Fixed Assets Mass Change window to change information for a group of assets. You must use a separate mass change process to change each type of asset record. For example, to change asset general information and asset account information, you must complete two mass changes. If information for an asset doesn’t exist, the mass change process will not create the information. You also must build a new asset group before each mass change process. Asset groups are built based on the assets on file when the group is created. Refer to Building an asset group for more information. The Fixed Assets Mass Change window has four tabs. You can refer to the following information about the tabs when changing asset information: General If you change the Asset Class ID, only the class ID in the Asset General Information window will be changed. To change book class information, such as depreciation characteristics, you also must make a mass change for the asset group, using the Book tab. Account You can select an account group. The accounts set up for that account group will appear as default entries in the account fields in this window. You can mark the accounts to change. Book You can change book class information. All of the fields are depreciation sensitive. When any depreciation-sensitive fields change, you must indicate whether the changes should take effect from the date the asset is currently depreciated (Recalc Remaining), as of the beginning of the current fiscal year (Reset Year) or as of the Place in Service Date (Reset Life). Refer to Recalculating depreciation for more information. If you changed the Asset Class ID using the General tab, you also must make a mass change for the asset group using the Book tab to change book class information, such as depreciation characteristics. User You can change any information for user-defined fields. You also can select default values to be used. To change information for a group of assets:
Deleting an asset book recordUse the Asset Book window to delete an asset book record. You also must make General Ledger entries to reverse any cost or depreciation that has been posted for this asset. For more information, refer to the General Ledger documentation. To delete an asset book record:
Calculating mid-quarter depreciationIf more than 40% of the total cost of assets purchased during the current year were purchased in the last quarter of the year, you must use the mid-quarter averaging convention to calculate depreciation for US federal income tax purposes for personal property placed in service that year. Print the Mid-Quarter Applicability report to determine the total cost of assets purchased each quarter of any year. Use the Mass Change window to calculate mid-quarter depreciation. You must create a group of assets purchased in the current fiscal year before you can calculate mid-quarter depreciation. Refer to Building an asset group for more information. To calculate mid-quarter depreciation:
Chapter 10: Asset transferYou can transfer an asset or a group of assets to a new general ledger account, property tax location, physical location, structure, or master asset ID. You also can transfer an asset or a group of assets from one company, the originating company, to a different company, the destination company. When you transfer an asset or group of assets, depreciation will be calculated through the transfer date using the current account numbers. Depreciation using the new account numbers will begin on the day after the transfer date. If the transfer date is earlier than the date through which the asset has been depreciated, depreciation will be backed out to the transfer date using the current account numbers. The following information is discussed:
Use the Transfer Maintenance window to transfer an asset to a new General Ledger account, property tax location, physical location, structure, or master asset ID for an individual asset. To transfer asset record information:
Partial transfer optionsA partial transfer of an asset can be based on one of the following options: Quantity The quantity to transfer. The transfer quantity will be divided by the quantity in the Asset General Information record to determine a transfer percentage. The percentage will be applied to all amount fields in every asset record—asset general information, asset purchase, asset book, asset book/ITC, asset lease, asset insurance, and asset user data—associated with the asset you’re transferring. If the asset is being transferred to more than one place, the total of all transfer quantity entries cannot exceed the quantity in the Asset General Information window. Cost The cost to transfer. The transfer cost must be equal to or less than the cost on any book for the asset being transferred. The transfer cost will reduce the cost of the corporate book record. A transfer percentage will be calculated by dividing the transfer cost by the cost basis in the corporate book. This percentage will be applied to all amount fields in every asset record—asset general information, asset purchase, asset book, asset book/ITC, asset lease, asset insurance, and asset user data—associated with this asset. You can base a partial asset transfer on cost only if a corporate book exists for the asset being transferred. Also, the total of all transfer cost entries cannot exceed the cost basis on the book record for any book for the asset being transferred. Percent The percentage to transfer. The percentage will be applied to all amount and quantity fields related to the asset. The total of all transfer percentage entries cannot exceed 100%. If you enter a combination of transfer quantity and transfer percentage, the transfer percentage will be applied to each dollar field associated with the asset being transferred. If you enter a transfer quantity and a transfer percentage and the transfer percentage is not the same percentage that is calculated by dividing quantity in the Asset General Information record by the transfer quantity, the percentage you entered will be changed. If you enter a combination of transfer quantity and transfer cost, the transfer quantity will reduce the quantity in the Asset General Information window and the transfer cost will be divided by the cost basis on the corporate book. Each line related to the partial transfer must have the same combination of field entries. For example, if only transfer percentage is entered on one line of the partial transfer, then only transfer percentage can be entered on subsequent lines. Partially transferring an assetUse the Transfer Maintenance window to partially transfer an asset. You can partially transfer an asset based on quantity, cost, or a percentage. After you partially transfer an asset, a new asset is created with the same asset ID as the original asset and an incremental suffix. To partially transfer an intercompany asset, see Transferring an intercompany asset record information. Each line related to the partial transfer must have the same combination of field entries. For example, if only transfer percentage is entered on one line of the partial transfer, then only transfer percentage can be entered on subsequent lines. To partially transfer an asset:
Transferring multiple assetsUse the Fixed Assets Mass Transfer window to transfer a group of assets to a different property tax location, physical location ID, structure ID, master asset ID, or change General Ledger account numbers. Before you can transfer a group of assets, you must first define an asset group in the Select Assets window. Refer to Building an asset group for more information. Be sure to build a new asset group before each mass transfer. If you transfer multiple assets for an existing asset group, it’s possible that not all assets that you intend to transfer will be transferred. To transfer multiple assets:
Intercompany asset transfer processDuring the intercompany transfer process, asset information is created in the destination company’s Asset General Information window. Asset information from the originating company’s Asset Insurance window, Asset Lease window, and Asset User Data window is not transferred to the destination company.
The next asset ID from the destination company's Fixed Assets Company Setup window is used to generate the new asset ID. The Mark to create a new asset ID for destination company option is unmarked. If the asset ID in the originating company does not exist in the destination company, the existing asset ID for the asset in the originating company is used for the asset general record. The acquisition date is the transfer date in the Fixed Assets Intercompany Transfer window. Transfer type is Reset. The acquisition date is the acquisition date for the asset in the originating company. Transfer type is Like-Kind Exchange, Taxable Exchange, Sale, or Other. The acquisition cost is the asset's net book value for the company's corporate book as of the date entered as the transfer date. Transfer type is Reset. The acquisition cost is the acquisition cost for the asset in the originating company. The quantity is set to the quantity for the asset in the originating company. Partial Transfer option marked and Quantity selected. The quantity is set to the quantity entered in the Fixed Assets Intercompany Transfer window. Partial Transfer option marked and Cost selected. The quantity is set to the quantity for the asset in the originating company multiplied by percentage entered in the Percent field in the Fixed Assets Intercompany Transfer window. Book information If the class ID assigned in the Fixed Assets Intercompany Transfer window has the Auto Add Book Info option marked in the Book Class Setup window, book information is automatically created for the asset in the destination company for each book. Asset Account window The accounts set up in the destination company for the Account Group ID assigned to the asset in the Fixed Assets Intercompany Transfer window are saved for the asset in the Asset Account window of the destination company. The Account Group ID itself is not saved with the asset information. It is used only for setting up and saving the accounts for the asset, and is then cleared. Retirement process During the transfer process, the group of assets is automatically retired in the originating company. Retiring an intercompany asset or asset group is the same as retiring a group of assets in the Fixed Asset Mass Retirement window or retiring an asset in the Retirement Maintenance window with the following exceptions. If the transfer type doesn't match a retirement type, the retirement type is Other for the asset or a group of assets. The transfer type determines the retirement date when an asset or a group of assets. Review the following table.
For more information about retiring assets, see Chapter 11, “Asset retirement.” Use the Fixed Assets Intercompany Transfer window to transfer an asset from the originating company to another company (the destination company). During the transfer process, the asset is automatically retired in the originating company. If you are using more than one instance of Microsoft Dynamics GP, you can only transfer assets within the same instance of Microsoft Dynamics GP. To transfer an intercompany asset record information:
By automatically generating the next asset ID when you are transferring an asset to a destination company, you can avoid duplication issues with the existing asset IDs in the destination company. The next asset ID from the destination company's Fixed Assets Company Setup window is used to generate the new asset ID. If the option is unmarked, the existing asset ID for the asset in the originating company is used for the asset general record in the destination company.
When you partially transfer an asset, you are also partially retiring an asset. For more information, refer to Partial retirement options.
Cash proceeds The monetary amount received for an asset when it was sold. Non-cash proceeds The monetary value of anything not in the form of cash that you received for an asset, such as a similar asset you received in exchange. Expenses of sale The amount it cost you to sell an asset.
Refer to Intercompany asset transfer process for more information. Transferring multiple intercompany assetsUse the Fixed Assets Intercompany Transfer window to transfer a group of assets to a different company (the destination company). During the transfer process, the group of assets is automatically retired in the originating company. If you are using more than one instance of Microsoft Dynamics GP, you can only transfer assets within the same instance of Microsoft Dynamics GP. To transfer multiple intercompany assets:
By automatically generating the next asset ID when you are transferring an a group of assets to a destination company, you can avoid duplication issues with the existing asset IDs in the destination company. The next asset ID from the destination company's Fixed Assets Company Setup window is used to generate the new asset IDs. If the option is unmarked, the existing asset ID for each asset in the originating company is used for the asset general record in the destination company.
Cash proceeds The monetary amount received for an asset when it was sold. Non-cash proceeds The monetary value of anything not in the form of cash that you received for an asset, such as a similar asset you received in exchange. Expenses of sale The amount it cost you to sell an asset.
Chapter 11: Asset retirementYou can retire an asset, partially retire an asset, or retire a group of assets. The retirement date you enter will be used to calculate the prorated amount of depreciation allowed for each book for each asset based on the averaging convention. Depreciation can be calculated forward or backward from the depreciated-to date to the prorated retirement date based on the rules for the averaging convention being used. If you’re using Multicurrency Management and you select a currency ID different than the functional currency defined for this company, the functional currency will be used to calculate the cash proceeds, non-cash proceeds, and expenses of sale, based on the exchange rate. The following information is discussed:
Retirement proceeds and expensesWhen you retire an asset record using the Retirement Maintenance window, you must enter the proceeds and expenses related to the retirement of that asset. You can enter information in each of the following options: Cash proceeds The dollar amount received for an asset when it was sold. Non-cash proceeds The dollar value of anything not in the form of cash that you received for an asset, such as a similar asset you received in exchange. Expenses of sale The amount it cost you to sell an asset. After you retire an asset record, choose the Prorated Retire Date expansion button in the Asset Book Inquiry window to view the gain/loss calculations. The following gain/loss values will be calculated using the proceeds and expense information, net book value, and retirement type for the asset:
Type Calculation
Expenses of Sale - Net Book Value Cash Proceeds Recognized Gain/Loss is equal to Realized Gain/Loss - Cash Proceeds Type Conversion Recording the sale or disposal of an assetUse the Retirement Maintenance window to record the sale or disposal of an individual asset. The averaging convention for the asset will be used to determine how much depreciation is allowed in the year of retirement. Gain and loss are calculated for each book record, using the proceeds, expenses of sale, and retirement type entered in the Retirement Maintenance window, and the net book value displayed in the Asset Book window. To record the sale or disposal of an asset:
Partial retirement optionsA partial retirement of an asset can be based on one of the following options: Quantity The quantity to retire. A retirement percentage will be calculated by dividing the retirement quantity by the quantity on the Asset General Information record and then rounding. This percentage will be applied to all dollar fields in every asset record—asset general information, asset purchase, asset book, asset book ITC, asset lease, asset insurance, and asset user data—associated with the asset you’re retiring. If the asset is being retired in more than one piece, the total of all retirement quantity entries cannot exceed the quantity in the Asset General Information window. Cost The retirement cost. The cost will be used to reduce the cost on the corporate book record and must be less than the cost on the corporate book record for the asset being retired. For each book record other than the corporate book, a retirement percentage will be calculated by dividing the retirement cost by the cost basis on the corporate book. This percentage will be applied to all dollar fields in every asset record—asset general information, asset purchase, asset book, asset book ITC, asset lease, asset insurance, and asset user data—associated with this asset. You can base a partial asset retirement on cost only if a corporate book exists for the asset being retired. In addition, the total of all retirement cost entries cannot exceed the cost basis on the any book for the asset being retired. Percent The retirement percentage to be applied to all dollar fields related to this asset. Each line related to the partial retirement must have the same combination of field entries. For example, if only retirement percentage is entered on the first line of a partial retirement, then only retirement percentage can be entered on subsequent lines. The total of all retirement percentage entries cannot exceed 100%. If you enter a combination of retirement quantity and retirement percentage, the retirement percentage will be applied to each dollar field associated with the asset being retired. If you enter a retirement quantity and a retirement percentage, and the percentage is not the same percentage that is calculated by dividing the quantity in the asset general information record by the retired quantity, the percentage you entered will be changed. If you enter a combination of retirement quantity and a retirement cost, the retirement quantity will reduce the quantity in the Asset General Information window and the retirement cost will be divided by the cost basis on the corporate book. Partially retiring an assetUse the Retirement Maintenance window to partially retire an asset. You can base a partial retirement on quantity, cost, or a percentage of the asset. After you partially retire an asset, a new asset record is created using the same asset ID of the asset retired and an incremental suffix. Each line related to the partial retirement must have the same combination of field entries. For example, if only retirement percentage is entered on one line of the partial retirement, only retirement percentages can be entered on subsequent lines. To partially retire an asset:
Reversing a retired asset recordUse the Retirement Undo window to reverse a retired asset record. You can reactivate a retired asset record if an incorrect asset was retired or if incorrect proceeds were entered. To reverse a partially retired asset, the original asset must still be active. If the asset isn’t active, you must reactivate it. Reactivating the asset puts the asset back to its original state before it was retired. Any financial detail records that were created as a result of the retirement will be reversed. To reverse a retired asset record:
Using retirement spread optionsWhen you retire multiple asset records using the Fixed Assets Mass Retirement window or the Fixed Assets Intercompany Transfer window, you must select a spread option to account for cash proceeds, non-cash proceeds, and expenses of sale. A spread accounts for the allocation of proceeds and expenses of sale for selected assets when retiring those assets. You can choose from the following four spread options: Use this amount for each asset The amount entered in the Cash Proceeds, Non-Cash Proceeds, and Expenses of Sale fields will be used when retiring each asset. Average evenly over each asset The amount entered in the Cash Proceeds, Non-Cash Proceeds, and Expenses of Sale fields will be divided by the number of assets in the asset group being mass-retired. This amount will be used to retire each asset. If the amounts don’t divide evenly, any remainder will be applied to the last asset in the asset group when it’s retired. As a percentage of corporate cost The sum of the corporate cost for all assets in the asset group being mass-retired will be calculated. The cost basis of each asset in the group will be divided by this total to determine its percentage of the total net book value. Each percentage or each asset will be separately multiplied by the total amount in the Cash Proceeds, Non-Cash Proceeds, and Expenses fields to determine the amount of each that applies to this asset. Suppose you enter the following values:
In the asset group there are three assets:
The total cost basis equals $10,000, and the allocation for asset 1 is 50% ($5,000 ÷ $10,000 = 50%). Therefore, the following amounts will be allocated for asset 1:
As a percentage of corporate net book value The sum of the corporate net book value for all assets in the asset group being mass-retired will be calculated. The net book value of each asset in the group will be divided by this total to determine its percentage of the total net book value. Each percentage of each asset will be separately multiplied by the total amount in the Cash Proceeds, Non-Cash Proceeds, and Expenses fields to determine the amount of each that applies to this asset. Suppose you enter the following values:
In this asset group there are three assets:
The total net book value equals $10,000, and asset 1’s allocation is 10% ($1,000 ÷ $10,000 = 10%). Therefore, the following amounts will be allocated for asset 1:
Recording the sale or retirement of a group of assetsUse the Fixed Assets Mass Retirement window to record the sale or disposal of a group of assets. You must build a new asset group for each mass retirement to ensure that all existing assets that meet the criteria selected are included in the retirement. For more information, refer to Building an asset group. To record the sale or retirement of a group of assets:
Chapter 12: Asset depreciationDepreciation is the allocation of the cost of an asset over a period of time for accounting and tax purposes. You can calculate depreciation or a projected depreciation amount for an individual asset, for a group of assets, or for all assets. For more information about various methods of depreciation and a description of them, refer to Depreciation methods and calculations. US tax luxury automobile limits are provided, as well as tables for ACRS (Accelerated Cost Recovery System) personal property, ACRS real estate based on the 175% declining balance method, ACRS real estate using modified straight-line, ACRS low income housing, and ACRS foreign real property. For MACRS (Modified Accelerated Cost Recovery System) depreciation, Microsoft Dynamics GP uses formulas to calculate the depreciation. Use Publication 946 from the Internal Revenue Service to select the correct asset life, cost basis, depreciation method, and averaging convention to calculate the depreciation deduction for the asset class. Back up your Fixed Asset Management data before beginning any depreciation process. The following information is discussed:
Depreciating one assetUse the Depreciate Asset window to depreciate an asset in a book. You also can recalculate depreciation, if necessary. The depreciation target date must be within a fiscal year that is set up in the Fiscal Periods Setup window and must be in the current fiscal year defined in the Book Setup window. Depreciation is calculated for each asset for each period included in the depreciation process. In General Ledger, the depreciation expense account is debited and the depreciation reserve account is credited. To depreciate one asset:
Depreciating assets in one or more booksUse the Depreciation Process Information window to depreciate asset groups in specific books or all assets set up in Fixed Asset Management. For more information about asset groups, refer to Building an asset group. The target date fiscal year must be set up in the Fixed Assets Fiscal Periods file and can’t be later than the Current Fiscal Year entered in the Book Setup window for every book selected to be depreciated. Depreciation is calculated for each asset for each period included in the depreciation process. In General Ledger, the depreciation expense account is debited and the depreciation reserve account is credited. To depreciate assets in one or more books:
Recalculating depreciation for an assetUse the Depreciate Asset window to recalculate depreciation for an asset when you don’t need to change a depreciation-sensitive field in the Asset Book window for an asset. To recalculate depreciation for an asset:
Choose Reset Life to recalculate depreciation as of the Place in Service Date of the asset. Both Reset Year and Reset Life will recalculate depreciation forward to the date through which the asset was previously depreciated. You can not enter a depreciation target date when either of these two options is selected. Reversing depreciation for an assetYou can reverse depreciation for an asset by entering a target date that is before the date through which the asset book has been depreciated. The target date cannot be before the first day of the current fiscal year defined in the Book Setup window for the book being depreciated. Use the Depreciate Asset window to reverse depreciation for an asset. To reverse depreciation for an asset:
Reversing depreciation for a group of assetsUse the Depreciation Process Information window to reverse depreciation for a group of assets. You can reverse depreciation for a group of assets by entering a target date that is before the date through which the asset book has been depreciated. The target date cannot be before the first day of the current fiscal year defined in the Book Setup window for the book being depreciated. To reverse depreciation for a group of assets:
The Reverse future depreciation option is not marked If the Depreciated To Date of an asset book record is less than the Depreciation Target Date, then the asset book record is depreciated through the Depreciation Target Date. If the Depreciated To Date is greater than or equal to the Depreciation Target Date, then asset is not depreciated. The Reverse future depreciation option is marked If the Depreciated To Date is less than the Depreciation Target Date, the depreciation for the asset book record is backed out (reversed) to the Depreciation Target Date. The Depreciated To Date for the asset book record is set to the Depreciation Target Date. If the Depreciated To Date is greater than the Depreciation Target Date, the asset book record is depreciated forward through the Depreciation Target Date, and the If the Depreciated To Date is equal to the Depreciation Target Date, then asset is not depreciated.
Projecting depreciation for one assetYou can calculate a projected depreciation amount without updating the asset book or the financial detail tables. The calculations for depreciation projections are identical to those for an actual depreciation; however, book and financial detail information is not updated. A separate depreciation amount is projected for each fiscal period projected. Because projected depreciation amounts are saved by user ID, each user can project depreciation without affecting another user’s depreciation projections. Use the Depreciate Asset window to project depreciation for one asset in a book. When the projection process is finished, you can print projection reports or view projection information in an inquiry window. To project depreciation for one asset:
Projecting depreciation for assets in one or more booksUse the Depreciation Projection window to project depreciation for assets in one or more books. We recommend that you project depreciation several years forward for all books. You can print projection reports for specific years or periods. To project depreciation for assets in one or more books:
For more information, refer to Building an asset group.
Part 4: RoutinesThis part of the documentation provides information about procedures you can use to calculate depreciation of your assets. It also includes information about year-end processes you can use and how you can integrate Fixed Asset Management with General Ledger. This part includes the following information:
Chapter 13: Year-end processesYou can close a Fixed Asset Management fiscal year to update depreciation amounts, summarize financial data, and remove inactive asset record information. Once you’ve closed the fiscal year, you cannot print reports for the prior year. You should print reports that include year-to-date depreciation for your assets before closing the fiscal year. You also can maintain Fixed Asset data tables by summarizing historical detail information, and deleting inactive asset records when it is no longer necessary to store the information. Before you can close the fiscal year, you must complete the following tasks:
To close the fiscal year, you must close the asset books and verify data after the books are closed. You also can summarize financial detail data and delete inactive asset records. If the fiscal periods for the new year in the Microsoft Dynamics GP fiscal calendar have been changed since the Fixed Asset Management calendar was last built, you should rebuild the Fixed Asset Management fiscal calendar for future years. You should do this only after you run the year-end process. The following information is discussed:
Closing the asset booksAt the end of each fiscal year, you can update depreciation amounts. The year-end routine increases the current fiscal year by one year for each book that is being closed and changes the Year-to-Date Depreciation Amount and YTD Maintenance Amount fields to zero. Also, the values in specific fields are copied to other fields. The following fields are changed when you close your asset books:
Back up your data before closing asset books. Before you begin, be sure that no other users are running any other processes in Fixed Assets, such as depreciation. Users can use other modules in Microsoft Dynamics GP while you are closing the asset books. Use the Asset Year End window to process the year-end routine. To close the asset books:
Summarizing financial dataYou can summarize financial data by asset record, book record, transaction account type, and specific periods at any time during the year. Summarizing asset data frees up hard disk space and is typically done at the end of the fiscal year. Once records have been summarized, you can no longer view detailed information. Use the Asset Financial Detail Summarize window to summarize financial data. To summarize financial data:
You can delete information for inactive—deleted, retired, or partially open—assets. Deleting asset data frees up hard disk space and is typically done at the end of the fiscal year. You should only delete data from a prior year. Use the Asset Purge window to delete asset information. To delete inactive asset information:
Chapter 14: General Ledger integrationYou can use a routine to integrate Fixed Asset Management data with General Ledger. The Fixed Assets GL Posting routine creates a batch of transactions—which includes one or more General Ledger journal entries, depending on how posting is set up in the Fixed Assets Company Setup window—that you can post to General Ledger. The batch number will have the prefix FATRX, followed by a sequential number. If you are not posting in detail, the General Ledger journal entry is in summary format by General Ledger account numbers. All the asset records for transactions are in the same journal entry. If you are posting in detail, a General Ledger journal entry created for each Fixed Assets Management transaction in the batch. You can select the data to post in the Fixed Assets General Ledger Posting window. Use the Fixed Assets to General Ledger Reconciliation report to reconcile Fixed Asset Management periodic activity to General Ledger. You can mark the Only Not Posted option in the Activity Report Options window for this report to view the Fixed Asset amounts that will be posted to General Ledger. The following information is discussed:
Migrating from another fixed assets systemAfter converting from another system—but before completely implementing Fixed Asset Management—we recommend that you mark the transactions already in General Ledger as posted. Use the Fixed Assets General Ledger Posting window to mark the transactions as posted. To migrate from another fixed assets system:
If you selected Period as a type of range, we recommend that you enter zeros in the From field. Then, enter the period you are balancing through in the To Period field.
As you finish transferring your data to Fixed Asset Management, you can continue to use Period as your range type and enter zeros in the From field and the current period in the To field. Using this set of dates, all current period activity—along with any prior period adjustments—will be included without doubling posted entries. Updating General Ledger with Fixed Asset Management transactionsUse the Fixed Assets General Ledger Posting window to update General Ledger with Fixed Asset Management transactions. To update General Ledger with Fixed Asset Management transactions:
*The selected book ID will be appended to the comment field and updated in the Distribution Reference field for the General Ledger transaction in the Transaction Entry window (Financial >> Transactions >> General).
The reporting ledger assigned to the book ID will be applied when you post fixed assets transactions in General Ledger.
If you selected Period as a type of range, we recommend that you enter zeros for the beginning period to include any prior period adjustments that have been made since the last time transactions were posted to General Ledger.
Asset records—Require Asset Account optionBefore you create asset records or perform any maintenance on asset records, you must mark Require Asset Account in the Fixed Assets Company Setup window to ensure that all Fixed Asset Management transactions that are saved and added to the Financial Detail table have a valid account number. You also must create an asset account record before any book record can be saved for that asset. For more information, refer to Asset account option and Modifying an asset account record. Rebuilding integrated batchesYou might have to rebuild the integrated batches. If there are no batch IDs displayed in the Batch Lookup window, use the Fixed Assets Reconcile window to rebuild integrated batches. To rebuild integrated batches:
Chapter 15: Physical inventoryYou can reconcile the actual physical location for an asset to the physical location ID entered for the asset. You might determine the actual physical location by using a bar-coding system. You also can identify missing or misplaced assets by using the physical inventory reconciliation process. To verify recorded assets actually exist, and are recorded in the correct physical location, you should reconcile physical inventory. The following information is discussed:
Importing physical location IDs for existing assetsBefore you reconcile physical locations, asset records must have a physical location ID and label. Use the Asset Import/Export window to import asset label and physical location ID values from an external source, such as a bar coding system. The information to be imported must be in a comma- or tab-delimited format and should contain the following fields:
To import physical location IDs for existing assets:
Creating an asset labels fileUse the Asset Import/Export window to create a file with asset labels. These labels can be printed in some form and attached to each asset as an identifier. There is not a standard asset label report. To create an asset labels file:
Reconciling physical locations for assetsYou can import information from another source, such as a bar-code reader, into Fixed Asset Management. The information must be in a comma- or tab-delimited format and should contain the following information:
If the item data has been imported previously, but not reconciled yet, a message will appear and you can choose one of the following options:
Discrepancies in the Fixed Assets Inventory file can be corrected using the Physical Inventory window. Discrepancies in the recorded value can be corrected on the asset card, or automatically—if the discrepancies are large—by creating an asset group, then entering a mass-change transaction to correct all the discrepancies at once. Use the Missing Physical Inventory and Misplaced Physical Inventory windows to view assets that are considered missing or misplaced in Fixed Asset Management. Missing Indicates assets with a recorded asset label were not found in the physical inventory. Misplaced Indicates one of the following situations has occurred:
To reconcile physical locations for assets:
The Verified Date and PIN will be saved to each reconciled general information record for each reconciled asset. Only items that haven’t been reconciled will remain in the imported file after the update is complete.
Part 5: Utilities and detail file activityThis part of the documentation provides information about maintaining the integrity of your Fixed Asset Management data by reconciling your records and maintaining the Fixed Asset Management data tables. This part includes the following information:
Chapter 16: Table maintenanceYou should reconcile asset records if you discover inconsistencies in reports or if a system problem occurs and you need to verify that your Fixed Asset Management data is accurate. You can delete asset records entered incorrectly or remove detail for an asset. You also can delete specific detail for items that have an unapplied amount equal to zero. Be sure to back up your data before completing any of these procedures. The following information is discussed:
Use the Fixed Assets Reconcile window to reconcile asset information and book ITC records. You can insert account numbers in any account that was left blank at the asset level and update any blank account with the corresponding default accounts entered in the Fixed Assets Company Setup window. You also can verify that each book ITC record has a Net Cost Basis equal to the Cost Basis in the asset book record. You can update or verify your asset data using one of the following reconciliation processes: Asset accounts Verifies that there are no blank account numbers in any asset account records. If there are blank accounts, default accounts selected in the Fixed Assets Company Setup window will be saved to the asset account record. Asset labels Updates blank asset label fields. If a blank asset label field exists in a asset general information record, the asset ID and suffix will be saved to the Asset Label field. Book ITC Forces the net cost basis in the Book/ITC record to be in balance with the cost basis in the Asset Book record. Only asset books that have a Book/ITC record will be reconciled. Create batch headers Creates a list of fixed assets general ledger batch numbers (FATRX) to use for reprinting the FA Posting to General Ledger report. Custodians Creates a list of assets with a custodian in the Asset General Information record, but the custodian is not also in the employee record. Be sure to back up your data before completing any of these procedures. To reconcile asset information:
Deleting an assetUse the Asset Delete Utility window to delete an asset record and all associated records. You should delete an asset only when the asset has been entered incorrectly. Before you delete an asset, be sure that an unposted batch does not exist for the asset. If an unposted batch exists, you must delete or post the batch before you can delete the asset. Use this utility with caution. Your books could become out of balance if the asset book monetary amounts that are already posted in General Ledger are deleted from the Fixed Assets Financial Detail File. There is no audit trail for the deleted asset, although the Asset Delete Report will be printed. If you’ve already used the General Ledger integration process to post monetary amounts for an asset, you must make manual General Ledger entries to reverse the cost and year-to-date depreciation for the asset you’re deleting. To delete an asset:
Choose Delete to delete the asset and print the Fixed Asset Delete report. You can refer to this report when making manual adjustments to the General Ledger. Deleting fixed assets purchasing transactionsUse the FA Purchasing Trxs Purge window to delete transactions that asset records have been created from. You also can remove specific information for each asset in the Fixed Assets Purchasing Transactions window using this window. You also can use the FA Purchasing Trxs Purge window to delete transactions that have an unapplied amount equal to zero. If an unapplied amount is not equal to zero, the transaction will not be deleted. To delete fixed assets purchasing transactions:
Removing batch historyUse the Remove Fixed Assets Batch History window to remove batch history. You also can print the Batch History Removal report. To remove journal history:
You can enter only one restriction for each restriction type. For instance, if you enter a restriction specifying that only batch IDs 100 through 300 should be removed, you can’t enter another restriction for batch IDs 500 through 800. To clear multiple ranges of history, you must clear each range separately.
Chapter 17: Financial detail file activityThe Financial Detail File contains financial information relating to the many Fixed Asset Management activities. For example, records are added to this file when you add, depreciate, retire, or transfer an asset. When you change fields related to depreciation calculations, records also are written to this file. The following is a table reference to the Financial Detail File and is organized by type of activity. The following information is discussed:
Activity table abbreviations and descriptionsYou can use the Financial Detail Inquiry window to view most of the information contained in the following activity tables. Use the following table to view descriptions of abbreviations in the activity tables.
Activity table for adding a recordWhen you add an asset record to Fixed Asset Management, specific accounts are debited and credited. Refer to the following table for the effect on the asset accounts.
Depreciation LPPY LPPY Reserve LPPY LPPY Expense Setup window) Reserve Setup window) Activity table for changing a recordWhen you change information in an asset record, specific accounts are debited and credited. Refer to the following table for the effect on the asset accounts.
Depreciation Reserve Depreciation Reserve Expense Reserve Expense Reserve
Reserve Expense Expense Reserve Expense Reserve Expense Reserve Reserve Expense Reserve Expense Reserve Expense Expense Expense Reserve Expense Expense Expense Reserve Expense Expense Expense Expense Reserve Expense Reserve Depreciation Reserve Depreciation Reserve Activity table for mass changes to recordsWhen you change a group of asset records, specific accounts are debited and credited. Refer to the following table for the effect on the asset accounts.
Expense Reserve Expense Reserve Depreciation Reserve Depreciation Reserve Activity table for deleting a recordWhen you delete an asset record, financial records won’t be created. You must debit and credit specific General Ledger accounts. Refer to the following table for the effect on the asset accounts.
Expense Reserve Activity table for depreciating a recordWhen you process depreciation for an asset record, specific accounts are debited and credited. Refer to the following table for the effect on the asset accounts.
Expense Reserve Expense Reserve Expense Reserve Expense Reserve Expense Reserve Depreciation Reserve Depreciation Activity detail for transferring a recordWhen you transfer an asset record, specific accounts are debited and credited. Refer to the following table for the effect on the asset accounts.
Expense Reserve Expense Reserve Expense Reserve Depreciation Reserve Expense Reserve Depreciation Reserve Activity table for mass transfer of recordsWhen you transfer a group of asset records, specific accounts are debited and credited. Refer to the following table for the effect on the asset accounts.
Expense Reserve Expense Reserve Activity table for retiring a recordWhen you retire an asset, specific accounts are debited and credited. Refer to the following table for the effect on the asset accounts.
Expense Reserve Depreciation Reserve Expense Reserve Depreciation Reserve Expense Reserve Expense Reserve Depreciation (if Retire Date is a prior year) Reserve Gain Proceeds + NonCash Proceeds - Expenses of Sale)
Activity detail for mass retiring recordsWhen you retire a group of asset records, specific accounts are debited and credited. Refer to the following table for the effect on the asset accounts.
Expense Reserve Depreciation (If Retire Date is in a prior year) Accumulated Depreciation, Proceeds, Gain/ Loss Reserve Gain Activity detail for unretiring recordsWhen you undo an asset retirement, specific accounts are debited and credited. Refer to the following table for the effect on the asset accounts.
Part 6: Inquiries and reportsThis part of the documentation provides information about viewing and printing Fixed Asset Management data and analyzing asset activity by printing specific reports. This part includes the following information:
Chapter 18: InquiriesYou can use the Fixed Asset Management inquiry windows to review asset information and financial information for an asset. You also can view additional information from the Asset Book Inquiry, Book Compare Inquiry, and Financial Detail Inquiry windows by clicking links to open other windows. You can print inquiry reports by choosing File >> Print in each inquiry window, or by choosing the printer icon button. The following information is discussed:
Use the Asset Inquiry and Asset General Inquiry windows to view specific information about an asset that does not directly relate to depreciation, such as the asset description, class ID, quantity, and property type. From the Asset Inquiry window, use the Go To button to open the following windows: To view asset information:
Maint/Manuf Opens the Asset Maintenance/Manufacturer Inquiry window, where you can view asset maintenance and manufacturer information that was entered in the Asset General Information window and the Expand Manufacturer Name window. Purchase Opens the Asset Purchase Inquiry window, where you can view information that was entered in the Asset General Information window, such as vendor ID, and purchase order number. If the acquisition of the asset originated in Payables Management or Purchase Order Processing, additional information might be displayed. Click the Voucher/Receipt Number link to view the originating window. Account Opens the Asset Account Inquiry window, where you can view the account information that was entered in the Asset Account window. Insurance Opens the Asset Insurance Inquiry window, where you can view insurance class, replacement cost, and depreciated reproduction cost information that was entered in the Asset Insurance window. Lease Opens the Asset Lease Inquiry window, where you can view the lease company ID, lease type, and interest rate information that was entered in the Asset Lease window. User Data Opens the Asset User Data Inquiry window, where you can view user-defined information that was entered in the Asset User Data window.
Use the Asset Book Inquiry and Asset Book ITC Inquiry windows to view depreciation information and asset values, such as the cost basis of the asset, salvage value, and net book value. To view detail transactions for a specific value of an asset, you can open the Financial Detail Inquiry window by clicking on the Cost Basis, YTD Depreciation, and YTD Depreciation links. To view asset book information:
Comparing asset booksUse the Book Compare Inquiry window to compare depreciation characteristics and depreciation balances for up to three books for an asset. This is useful to see the difference in the depreciation values calculated using different rules. You also can open the Asset Book Inquiry and the Financial Detail Inquiry windows from this window. To compare asset books:
Use the Financial Detail Inquiry window to view the financial detail records for an asset, such as the fiscal period, batch ID, transaction account and date, source document, and amount. These records include information about an asset that has been added, changed, depreciated, retired, or transferred. You can view specific information by selecting options to restrict the information. To view additional information for each transaction, you can click on the Amount link to open the Financial Detail Display window. You also can open the Financial Detail Inquiry window by clicking the Cost Basis link in the Asset Book Inquiry and Asset Book Compare windows. To view financial detail information:
Period filter Displays only records for the specified Fixed Asset Management period. To view all records for a year, enter zeros for the period. This field is in the format YYYY- PPP, where Y is a year and P is a period. GL Batch # filter Displays only those records that are included in the batch number you enter. Transaction Account Type filters Displays only records with a certain transaction account type or all transaction account types. If you mark more than one transaction account type filter, assets will be displayed for each type. Mark All Types to include all asset records, regardless of their transaction account type. Choose Redisplay. Source Doc. filters Displays only records with the source document you select. If you mark more than one source document filter, assets will be displayed for each type. Mark All Documents to include all asset records, regardless of their source document. Choose Redisplay. Include Reset Amounts Displays each depreciation transaction taken for an asset in closed years and its offsetting transaction. Unmark to display the transaction that has the current depreciation amount taken for the period.
Use the Retirement Display window to view the cash proceeds, non-cash proceeds, expenses of sale, and information related to the retirement of a asset. To view asset retirement information:
Viewing the error logUse the Error Log Inquiry window to determine the type of problem that has occurred. When a problem occurs during a process, information is displayed in the Error Log Inquiry window describing the process occurring at the time of the problem and possibly listing the table and record where the problem occurred. View this information before you call technical support. To view the error log:
Use the Transfer Display window to view information about an asset transferred from one asset ID, location ID, physical location ID, master asset ID, structure ID, or account number to another. You also can view the date and time of the transfer and any partial transfer information. If an asset was part of an intercompany transfer, the destination company ID displays for the asset. To view transfer information:
Use the Projections Inquiry window to view projected depreciation for an asset. You must first complete a depreciation projection for the asset. For more information, see Projecting depreciation for assets in one or more books or Projecting depreciation for one asset. To view projected depreciation information:
Use the Fixed Assets Purchasing Transactions Inquiry window to view transactions originating in Purchase Order Processing or Payables Management. You can view transaction information such as the purchase order number, document date and number, originating amount, and transaction source. Only transactions that haven’t been added as assets or haven’t been fully applied as assets will be displayed in this window. To view the purchasing transactions information:
Use the Fixed Assets Batch Inquiry window to view posted Fixed Assets batches. To view the batch information:
General Ledger inquiriesBy clicking links in specific General Ledger inquiry windows, you can open additional windows and view details of the Fixed Asset Management transactions that were posted to General Ledger. Details include account information, the transaction date, and the amount of the transaction. The following table lists the windows displayed by clicking on the links. To open certain windows, the transaction you select must have originated in Fixed Asset Management; the source document must be FA.
window Ledger Zoom window Chapter 19: ReportsYou can use Fixed Asset Management reports to analyze asset activity and identify errors in transaction entry. You also can use reports to organize necessary information for financial, tax, and other regulatory reporting requirements. Use this information to guide you through printing reports and working with report options. The following information is discussed:
Some Fixed Asset Management reports are printed automatically when you complete certain procedures. For example, the Asset Delete report is printed when you delete an asset. You can choose to print reports in some windows by choosing File >> Print or the printer icon. To print some reports, such as analysis or history reports, you must set up report options specifying sorting options and ranges of information to include on the report. For more information, see Creating report options. The following table lists the report types available in Fixed Asset Management and the reports in those categories.
Fixed Assets Book Setup Fixed Assets Book Class Setup Fixed Assets Insurance Setup Fixed Assets Class Setup Fixed Assets Company Setup Fixed Assets Lease Company Setup Fixed Assets Physical Location Setup Fixed Assets Purchasing Posting Accounts Setup Fixed Assets Quarter Setup Fixed Assets Retirement Setup Fixed Assets Structure Setup User Fields List Setup Basis Report Detail Activity Mid-Quarter Applicability Fixed Assets to General Ledger Reconciliation - Detail Fixed Assets to General Ledger Reconciliation - Summary
Book to Book YTD Depreciation Comparison Comparison Report options window. Depreciation Expense to General Ledger Depreciation Ledger Depreciation Ledger by Class Depreciation Ledger by Class - Summary Depreciation Ledger by Location Depreciation Ledger by Location - Summary Depreciation Ledger by Structure Depreciation Ledger by Structure - Summary Fixed Assets Inventory List by Class Fixed Assets Inventory List by Class -Summary Fixed Assets Inventory List by Location Fixed Assets Inventory List by Location -Summary Fixed Assets Inventory List by Structure Fixed Assets Inventory List by Structure - Summary Locator List Property Ledger Asset List by Master Asset ID Annual Depreciation Projection - Summary Period Depreciation Projection - Detail Period Depreciation Projection - Summary Additions (Multicurrency) Additions by Class Additions by Class - Summary Additions by Class (Multicurrency) Additions by Location Additions by Location - Summary Additions by Location (Multicurrency) Additions by Structure Additions by Structure - Summary Additions by Structure (Multicurrency) Retirements Retirements (Multicurrency) Retirements by Class Retirements by Class (Multicurrency) Retirements by Class - Summary Retirements by Location Retirements by Location - Summary Retirements by Location (Multicurrency) Retirements by Structure Retirements by Structure - Summary Retirements by Structure (Multicurrency) Transfers If you are using the euro currency reports that include exchange rate information, you can display the dual exchange rates involved in triangulation. When triangulation is used, the Rate Type ID field displays the rate type of the currency relationship that has a variable rate. If both currency relationships have fixed exchanges rates, the Rate Type ID field is blank. Report destinations and formatsYou can print reports to a printer, the screen, a file, or any combination of these destinations. Printer The report is printed to the default printer set up for your company. Screen The report appears on the screen and you can then choose to print to the printer. In addition, if you’re using an electronic mail system that’s compliant with MAPI (Microsoft’s Messaging Application Programming Interface), you can e-mail any report that you print to the screen. File You can select one of the file formats shown in the following table:
The option to print multicurrency information is available on some report option windows. To print multicurrency versions of your reports, mark the Include Multicurrency Info option. You can select a printing destination in various ways, depending on which printing method you use.
Processing reports on a process serverIf you are using the Distributed Process Server (DPS), you can process some reports on your computer or send them to a designated server on the network. Sending long reports to a process server allows you to continue working while the reports are being created. You can set up the Process Server to process the following Fixed Asset Management activities:
Creating report optionsReport options include specifications of sorting options and range restrictions for a particular report. To print some of the Fixed Asset Management reports, you must first create report options. Each report can have several different options so that you can easily print the information you need. For example, you can create one report option to show summary information, and another option to show detailed information. A single report option can’t be used by multiple reports. For identical options for several reports, you must create them separately. Use the Fixed Asset Management report options windows to create sorting, restriction and printing options for the reports that have been included with Fixed Asset Management. To create report options:
For report options window information choose Help >> Index; then enter the name of the specific report options window.
You can enter only one restriction for each restriction type. For instance, you can insert one asset ID restriction or one document number restriction.
For more information about printing reports, see Printing a report with an option.
Printing a report with an optionUse an asset report window to print a fixed assets report for which a report option has been set up. To print a report with an option:
Customizing a reportMost of the existing reports in Fixed Asset Management can be modified to meet your needs. You can add or delete fields, change sorting options, add subtotals, or you can customize reports using Report Writer. The following procedure describes the simplest method to customize a default report and set access to it. Refer to the Report Writer documentation for detailed instructions about using Report Writer. To customize a report:
The Report Layout window will appear with the current report open.
Fixed Asset Management Microsoft SQL® Server Reporting Services reportsYou can view Fixed Asset Management Reporting Services reports from the Reporting Services Reports list. If you are using Reporting Services 2008 or later, financial metrics for your home page also appear in the Reporting Services Reports list. You can access the Reporting Services Reports list from the navigation pane or from an area page in the Microsoft Dynamics GP application window. This report list appears if you specified the location of your Reporting Services reports using the Reporting Tools Setup window. See your System Setup Guide (Help >> Contents >> select Setting up the System) for more information. The following Reporting Services reports are available for Fixed Asset Management.
Report
To print a Fixed Asset Management Reporting Services report:
Additional Functionality added to Fixed AssetTo review detailed information about each feature, choose the relevant link below.
GlossaryAccountThe type of record—asset, liability, revenue, expense, or owner’s equity—traditionally used for recording individual transactions in an accounting system. Also, the identifying alphanumeric characters that have been assigned to the record. ACRS (Accelerated Cost Recovery System) tablesTables to calculate depreciation for personal property, real estate, real estate using modified straight-line, low income housing, and foreign real property. Created by the Economic Recovery Tax Act of 1981 for US tax purposes. Depreciation can be calculated for assets acquired from 1981 through 1986. AmortizationThe gradual reduction of a liability in regular payments over a specified period of time. These payments must be enough to cover both principal and interest. Also, writing off an intangible asset investment over the projected life of the assets. AssetAn item of value owned by an individual or corporation, especially that which could be converted to cash. On a balance sheet, assets are equal to the sum of liabilities, common stock, preferred stock, and retained earnings. Asset bookAccounting records—ledgers or journals— for a specific reporting purpose, such as financial or tax. All assets to be included for the reporting purpose would be included in the asset book. Asset groupA collection of assets with a similar characteristic. Averaging conventionRules for calculating depreciation in the year of the acquisition of the asset and the year of the disposal of the asset. CapitalizeTo classify the cost of an asset as a long-term investment, rather than charging it to current operations. An asset account that is debited in Purchasing Order Processing or Payables Management for the PURCH type distribution line in the Purchasing Distribution Entry window. This account is credited when an asset is added. At the end of each period, if the balance in the clearing account is zero, items in Purchasing Order Processing or Payables Management that need to be capitalized are added in Fixed Asset Management. Corporate bookThe accounting records for financial reporting purposes, based on the applicable accounting principles. See also Tax book. Cost basisThe purchase price of an asset, including freight, tax, and other expenses, less any adjustments, such as Section 179 Expense Deduction and salvage value. Used to determine capital gains and capital losses for tax purposes. DepreciationThe allocation of the cost of an asset over a period of time for accounting and tax purposes. Also, a decline in the value of an asset due to general wear and tear or obsolescence. Depreciation-sensitiveChanges that affect depreciation. When a value in a depreciation-sensitive field is changed, depreciation must be recalculated for that asset. ExpenseA cost incurred by a business in an attempt to obtain revenue. Filter An option to restrict specific information. Fiscal periodDivisions of the fiscal year, usually monthly, quarterly, or semiannually, when transaction information is summarized and financial statements are prepared. Fiscal yearAn accounting period of 365 days—366 days in leap years—but not necessarily starting on January 1. InflationThe overall price movement—generally upward—of goods and services in an economy. Insurance yearThe year reproduction cost of an asset is based on. An investment tax credit (ITC) taken for US tax purposes for the purchase of specific types of business property. The credit must be taken in the year of purchase and is limited by a maximum amount. The ITC was eliminated by the Tax Reform Act of 1986. Luxury autoA limit on the annual recovery allowances— depreciation—that can be taken for US tax purposes. Master asset IDAn ID used to group components of a single asset or related assets. For example, a computer might be considered an asset that contains a CPU, a monitor, and a printer as components. You can assign the same master asset ID to each component so that the parts are related and can be tracked together. Net cost basisThe Original Cost Basis, minus Section 179 Expense Deduction, minus ITC Cost Reduction Amount, plus or minus Miscellaneous Cost Adjustment. Physical locationThe actual place where an asset is located; for example, a building, a floor in a building, or a room in a building. Prior period adjustmentAn adjustment for an error that was not discovered during the period in which it occurred. Prior year depreciationDepreciation that relates to years earlier than the current fiscal year. ProceedsThe value—in cash or anything not in the form of cash—received for an asset. Projected depreciationThe forecasted allocation of the cost of an asset over a period of time for accounting and tax purposes. Purchasing transactionA transaction that originated in Payables Management or Purchase Order Processing. Recalculate optionCalculates a new rate of depreciation using the new cost basis data, but does not make adjusting entries for depreciation already taken. The new rate of depreciation will be used the next time the depreciation routine is completed. ReceivingRecording the receipt of assets that have been ordered from a vendor via a purchase order. Receiving also refers to the recording of the invoice for the assets received. Reset Life optionRecalculates depreciation from the date it was placed in service forward to the date the asset has already been depreciated. If there are adjustments to the depreciation for any period, they will be written to the financial detail table. Reset Year optionRecalculates depreciation from the beginning of the year forward to the date the asset has already been depreciated. If there are adjustments to the depreciation for any period, they will be written to the financial detail table. RetireTo sell or dispose of a fixed asset, including destroying or abandoning the asset. A retired asset is no longer producing revenue. Section 179 Expense DeductionUS Tax Section 179 allows expensing all or a portion of the cost of an asset in the year of acquisition, rather than expensing, or depreciating, over the life of the asset. Any portion of the cost of an asset taken as Section 179 cannot be taken also as depreciation. For more information about additional restrictions and rules, contact a tax professional. Special depreciation allowanceAn additional first-year depreciation deduction. If used with the Job Creation and Worker Assistance Act of 2002, the deduction is equal to 30 percent of the adjusted basis of qualified property. For more information, contact a tax professional. SpreadOptions that account for the allocation of proceeds and expenses of sale for selected assets when mass retiring those assets. SuffixNumber used to distinguish multiple assets with the same asset ID. Might be used to identify components of assets or assets that have been partially retired or transferred. SwitchoverOption that changes the depreciation method of an asset when the depreciation for an asset is greater using the switchover method than the current depreciation method. The depreciation method automatically will change to the switchover method. Switchover will only occur at the beginning of the year when the yearly depreciation rate is calculated for the next year. Tax bookThe accounting records for tax reporting purposes, based on the applicable tax laws. See also Corporate book. TEFRAThe Tax Equity and Fiscal Responsibility Act of 1982 produces additional revenue through a combination of federal spending cuts, tax increases, and reform measures for US tax purposes. TransferThe movement of an asset to a new general ledger account, property tax location, physical location, structure, or master asset ID. Typically affects the future allocation of depreciation expense for the asset. VendorA person or company providing goods and services in return for payment. Year-end closingA process used to zero out year-to-date values and update beginning of year values for assets, including quantities, depreciation, and maintenance. |