Home » Blog » Microsoft Dynamics GP 2013 Fixed Assets Enhancements

Compared to the older version Microsoft Dynamics GP 2013 has come up with lot of additional enhancements in Fixed Asset module some of them are listed below

Historical depreciation amounts

By marking the Reset History in Detail option in the Fixed Assets Company Setup window, each depreciation transaction taken for an asset in closed years will have an offsetting transaction created. If the Reset History in Detail option is not marked, a summary transaction is created in the last period of the most recent closed year for all depreciation taken for the asset in closed years.

Fixed Assets Depreciation Detail and Fixed Assets Depreciation Ledger reports

When printing the Fixed Assets Depreciation Detail report or the Fixed Assets Depreciation Ledger report, you can enter a cutoff date and have the depreciation amounts calculated through that date. For example, if you select End of Previous Month, the report includes depreciation transactions as of the last day of the previous month. This allows you to print the report using a defined historical date.

Book Setup window update

After an asset for a book has been depreciated, you can’t change the current fiscal year in the Book Setup window. You can specify a calendar ID for the book. The calendar ID assigned to the book will be used for processing financial transactions such as retiring, depreciating, and transferring assets.

Depreciation Process Information window

You can reverse depreciation for all assets or for a group of assets using the Depreciation Process Information window. The Progress button was removed from the Depreciation Projection window and the Depreciation Process Information window and replaced with a progress bar.

Posting in detail to General Ledger

General Ledger can be updated with Fixed Asset Management transactions in detail if you mark the Post in Detail option in the Fixed Assets Company Setup window. When a batch is posted from the Fixed Assets General Ledger Posting window, a General Ledger journal entry is created for each Fixed Assets Management transaction in the batch. For example, two Fixed Assets Management transactions are created when you depreciate all assets for a month and then retire several assets. When you post a batch from the Fixed Assets General Ledger Posting window for those two transactions, a General Ledger journal entry is created for each Fixed Assets Management transaction.

If the option is unmarked, all transactions are summarized into a single journal entry by account. When you post a batch from the Fixed Assets General Ledger Posting window, there will be one General Ledger distribution per account in the one journal entry.

Edit distributions before posting batch to General Ledger

You can review or edit the account distributions for a batch of Fixed Asset transactions before creating the batch in General Ledger using the Fixed Assets General Ledger Posting window. If the batch information is incorrect, you can delete the batch in Fixed Assets Management.

Intercompany transfers

You can use the Fixed Assets Intercompany Transfer window to transfer assets from one company (originating company) to a different company (Destination Company). You can transfer a single asset or a group of assets. Asset setup information is transferred with the assets to the destination company so you don’t have to set up the assets in the destination company. During the transfer, the asset or asset group is automatically retired in the originating company. You can only transfer assets within the same instance of Microsoft Dynamics GP.

Automatically generating the next asset ID

You can mark the Auto Generate Next Asset ID option in the Fixed Assets Company Setup window to automatically generate the next asset ID in the Asset General Information window. After marking the option, you can enter the next asset ID to use when adding a new asset. If you leave this field blank, you will have to enter the asset ID in the Asset General Information window when creating a new asset.

By automatically generating the next asset ID when 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 you are not creating a new asset ID for a destination company record, the existing asset ID for the asset in the originating company is used for the asset general record in the destination company.

Fixed Assets Management calendars

Use the Fixed Assets Calendar Setup window to create multiple calendars in Fixed Assets. When you create a calendar, you can base the calendar on the Fiscal Period Setup window, the calendar year, or an existing calendar year. For example, you can create a calendar for the corporate book that needs to depreciate assets according to the year set up in the Fiscal Period Setup window while the tax book needs a calendar to depreciate assets according to the calendar year.

You also can define whether the fiscal year is longer or shorter that a twelve period year and enter the percentage of a full year’s depreciation that should be taken in that short or long year.

Integrate Analytical Accounting with Fixed Asset Management

For Fixed Asset Management transactions, you can create assignments and enter transaction dimension codes for the distribution accounts that are linked to an account class. You can save transactions with analysis information to a batch prior to posting the batch. You can view analysis information created for transactions in the Analytical Inquiry windows.

OAG International is an experienced Microsoft Competency Partner with offices in San Francisco, CA specializing in affordable Microsoft Dynamics GP consulting, development and deployment on premise or in the Azure Cloud..
Contact us for a complimentary needs analysis and to learn how you can benefit from our lower prices, faster service and the strongest commitment to customer satisfaction around.

Schedule Analysis

Microsoft Dynamics GP Resources Library

Have you considered a cloud-based Microsoft Dynamics GP solution?

Microsoft Dynamic GP Cloud Hosting

Want to hear how we've helped other customers like you?

helped other customers like you

Moving from a legacy system?

moving from legacy system

Questions?

Contact Oag
 
 

Copyright © 2015 OAGint.com - All Rights Reserved