Configuring Fixed Assets - Dynamics Resources

12/26/2016 ConfiguringFixedassetsDynamicsResources
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Con guring Fixed assets
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Categorised Training (https://dynamics-resources.com/category/training/)
Fixed assets are assets which a company owns and uses in the day-to-day operations
of the company and are not intended for resale to customers. The useful lives of these
assets spans multiple years. Examples of xed assets include the following:
Automobiles
Computers
Machinery
Buildings
Copyrights or trademarks (a special class of assets frequently called intangible assets)
The Fixed assets module provides subledger detail that supports a controlling account in
General ledger the same way the Accounts receivable and Accounts payable modules
provide subledger detail to support the associated controlling accounts in General
ledger. This relationship between the subledgers and the General ledger is achieved
through setups where speci cations are provided for one or more ledger accounts.
https://dynamicsresources.com/configuringfixedassets/ 1/14
In addition to supporting the General ledger, the Fixed assets module in Microsoft
Dynamics AX 2012 has other functionality, including:
Provides detailed documentation for the companys assets.

Simpli es the tracking of depreciation.
Calculates write-ups or write-downs.
Allows for the acquisition and disposal of assets.
Allows the accounting of assets for tax preparation.
Because most xed assets represent a signi cant investment for companies, the ability
to track and keep sound nancial records on xed assets is important.
1. Create Fixed asset groups, you can create as many asset groups as you need example
Automobiles
Computers
Machinery
Buildings
Copyrights or trademarks (a special class of assets frequently called intangible assets)
And each of these groups can have different rules to depreciate. And you can con gure
a special number sequence for each group or you can con gure the same number
sequence for all
1.1.1. Click Fixed assets, click Setup, and then click Fixed asset groups.
1.1.2. Click the New button to add a line.
1.1.3. In the Fixed asset group eld, enter a code to identify the Fixed asset group.
1.1.4. In the Name eld, enter a name for the Fixed asset group.
1.1.5.In the Type eld, click the arrow to select a type to assign to the Fixed asset group.
The following choices are available:
Tangible
Intangible
Financial
Land and buildings
Goodwill
Other
1.1.6.In the Major type eld, select a top-level asset classi cation for reporting only.
1.1.7.In the Autonumber Fixed assets eld, select the check box to indicate that Microsoft
Dynamics AX 2012 creates the numbers for the items.
1.1.8.In the Number sequence code eld, select the Number sequence code to use when
assets are autonumbered.
1.1.9.In the Autonumber bar codes and Bar code number sequence elds, make
selections for bar codes the same way as for numbers.
(http://dynamics-resources.com/wp-content/uploads/2016/08/Fixedassets.png)
1.1. Con guring Depreciation pro les
1.1.1.Click on Fixed assets Setup Depreciation Depreciation pro le
1.1.2.Click New
1.1.3.Depreciation pro le set a identi er
1.1.4.Name Set a name
1.1.5.Select Method
(http://dynamics-resources.com/wp-content/uploads/2016/08/Fixedassets1.png)
1.1.1.Select depreciation year
1.1.1.Select period frequency
1.1. Con guring value models
1.1.1.Click on Click on Fixed assets Setup Value models
1.1.1.1.Set value model
1.1.1.2.Set description
1.1.1.3.Select Depreciation pro le
1.1.1.4.Select posting layer
1.1.1.5.Select calendar
1.1.1.Click on xed asset groups button
1.1.1.1.Select Fixed asset group
1.1.1.2.Select value model
1.1.1.3.Mark depreciation box in case that the xed asset should calculate depreciation
1.1.1.4.Service life, here you have to set a number in years 5, 10, 20 years
1.1.1.5.Depreciation periods, this eld will calculated automatically depending on what you
set in the previous eld
1.1.1.6.Select a depreciation convention
L E AV E A M E S S A G E
IMPORTANT NOTE: Microsoft Dynamics AX calculate depreciation in base on periods not

in percentage, thats why is very important calculate the periods and in base on those
periods calculate the service life in years
1.1. Set Up a Fixed Asset Group Value Models Button
The most important part of the Fixed assets group setup, is the allocation of value
models to each particular Fixed asset group. This setup suggests the number of nancial
life cycles for the asset and set up depreciation for the asset
To allocate value models to the Fixed asset group, follow these steps.
1.1.1.From the Fixed assets group form, click the Value models button.
1.1.2.Click the New button to add a line.
1.1.3.In the Value model eld, select a Value model. This selection populates most elds
on the form.
1.1.4. Select the Depreciation check box to indicate depreciation is calculated.
1.1.5. In the Depreciation convention eld, click the arrow to make a selection.
In this option you will nd the previous con guration that you made this con guration
will be default available when you make a new xed asset when you select the group for
that speci c xed asse
1. Con guring a xed asset posting pro le
You can use the posting pro le in the Fixed assets module to de ne the integration of
Fixed assets to the General ledger. Correct setup of posting pro les is important to
ensure correct ledger transactions and accurate nancial reporting.
At least one posting pro le must be set up.
To set up Posting pro les, follow these steps.
On the Navigation Pane, click Fixed assets, click Setup, and then click Fixed asset posting pro les.
Click the New button to add a line.
In the Posting pro le eld, enter a brief code to identify the Posting pro le.
In the Description eld, enter text to better identify the Posting pro le.
The entries made on the right side of this form work together with the option button selected on the
left side of the form for the type of transaction. Therefore, rst select each option button and then click the
Add button to make entries on the Value model line.
In the Value model eld, click the arrow to select the value model.
In the Groupings eld, click the arrow to select from the following options:
Table to indicate the setup is speci c to a particular asset.
Group to indicate the setup is used for a Fixed asset group.
All to indicate the setup is used for all assets, unless de ned in another line.
In the Fixed asset number eld, select the number to assign to the line. The lookup in this column
depends on the selection made in the Groupings eld as follows:
If Table is selected in the Grouping eld, the lookup displays all Fixed assets, so that posting
accounts can be assigned for individual assets.
If Group is selected in the Grouping eld, the lookup shows all Fixed asset groups so that
accounts can be assigned for Fixed asset groups.
If All is selected in the Grouping eld, there is no lookup option because the accounts are
automatically related to all assets with this value model.
In the Main account eld, click the arrow to select the account from the chart of accounts to use for
entries. The Main account is typically an account in the balance sheet.
In the Offset account eld, select the account to use as the offset. Typically, the Offset account is a
pro t or loss account because the second part of the transaction being posted is income or expense.
However, there can be exceptions
Here you can con gure all of the options or you can con gure only the options that you
needCon guring Disposal
Here you must con gure the options for sale and scrap,
Sales option you must con gure on this two options for each xed asset group gain and
loss and you need to select one account for each option
Scrap option you must con gure this option for each xed asset group and select one
account for each option
Fixed assets parameters
Go to Fixed assets Setup Fixed assets parameters
1. Set the minimum depreciation amount

2. Allow multiple acquisitions, check the box
3. Posting pro le select the default posting pro le
4. Allow asset acquisition from purchasing, check the box
5. Create asset during product receipt or invoicing
6.
7. Con gure number sequencesHere we recommend to make manually all the number sequence
because there are some internal processes that could use any number sequence, if it does not exist it will
be show an error screen
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12/26/2016 ConfiguringFixedassetsDynamicsResources

/ BLOG (HTTPS://DYNAMICS-RESOURCES.COM/BLOG/) / CONFIGURING FIXED ASSETS

(https://dynamics-resources.com/con guring- xed-assets/)

(https://dynamics-resources.com/con guring- xed-assets/)

Provides detailed documentation for the companys assets.

1.1.2. Click the New button to add a line.

1.1. Con guring Depreciation pro les

1.1.1.Click on Fixed assets Setup Depreciation Depreciation pro le

1.1.3.Depreciation pro le set a identi er

1.1.4.Name Set a name

1.1.1.Select depreciation year

1.1.1.Select period frequency

1.1. Con guring value models

1.1.1.Click on Click on Fixed assets Setup Value models

1.1.1.1.Set value model

1.1.1.3.Select Depreciation pro le

1.1.1.4.Select posting layer

1.1.1.Click on xed asset groups button

1.1.1.1.Select Fixed asset group

1.1.1.2.Select value model

1.1.1.6.Select a depreciation convention

IMPORTANT NOTE: Microsoft Dynamics AX calculate depreciation in base on periods not

1.1. Set Up a Fixed Asset Group Value Models Button

1.1.2.Click the New button to add a line.

1.1.4. Select the Depreciation check box to indicate depreciation is calculated.

1. Con guring a xed asset posting pro le

At least one posting pro le must be set up.

To set up Posting pro les, follow these steps.

Fixed assets parameters

Go to Fixed assets Setup Fixed assets parameters

1. Set the minimum depreciation amount

Dynamics AX (AX 7.0) Whats new in Dynamics AX Lean Manufacturing (https://dynamics-

March 2016 (https://dynamics-resources.com/2016/03/)

December 2013 (https://dynamics-resources.com/2013/12/)

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