Fixed Asset Setup for Dynamics 365 Business Central

-

Below is an overview of the setup and its purpose in the fixed asset process:



  1. FA Classes – Defines the high-level classifications for fixed assets, such as Vehicles, Equipment, and Furniture, helping to organize assets into broad categories. You must create at least one fixed asset class during your setup.


  2. FA Subclasses – Provides further categorization within FA Classes, adding more granularity (e.g., Heavy Equipment vs. Light Equipment), which can aid in reporting and management.


  3. FA Locations – Lists the locations where fixed assets are physically stored or used, ensuring accurate asset tracking across different business sites.


  4. Depreciation Books – Contains depreciation settings and methods, ensuring compliance with financial and tax reporting requirements.




  5. FA Posting Groups – Defines how fixed asset transactions are mapped to the General Ledger, ensuring correct financial postings based on asset type.


  6. Fixed Asset (5600) – A detailed register of fixed assets, including asset numbers, descriptions, acquisition costs, and depreciation settings.


  7. Fixed Asset Journal – A journal entry sheet used for recording fixed asset transactions such as acquisitions, disposals, and depreciation postings. This will assist us with getting the proper book value into the system.



------

Kristen Hosman is a Microsoft MVP in Denver. She works with Dynamics 365 Business Central and related technologies. You can also connect with her through this link: Kristen Hosman | Linktree

Comments

Post a Comment

Popular posts from this blog

Applying posted credit memos to posted invoices in Microsoft Dynamics 365 Business Central

-
Image
Applying posted credit memos to posted invoices isn't a hard task to complete in Microsoft Dynamics 365 Business Central. The example I use below is for a vendor credit, but the same process applies to customers.  Version: US Business Central 20.0 Open up the vendors list. Search for vendor that you'd like to apply the credit memo to an invoice for.  Click on Balance field to open up Vendor Ledger Entries window. This will show all the 'open' documents on the vendor ledger. Select the line for the Credit Memo that you want to apply to a posted invoice. Click Process > Apply Entries Within the Edit - Apply Vendor Entries window select the line(s) that you'd like the credit memo applied to.  Click Process > Set Applies-to ID This will put the users name into the Applies-to ID field on the line selected. To post the application select Process > Post Application. Written by: Kristen Hosman, Microsoft MVP
Read more

Send Remittance Advice in Microsoft Dynamics 365 Business Central

-
Image
The easiest way to send a remittance to a vendor is to open the vendor list and click on the vendor you'd like to send the remittance to.  With the vendor selected click on Actions > Functions > Send Remittance Advice.  You will then be welcomed with the Send Document to screen where you can decide how to process the remittance. In my case I want to email the remittance, so I make sure the Email is set to Yes.  Once I click OK, I am able to preview the email that will be sent. You can add emails for who it will be sent to, update the subject and message fields, and add any other attachments that should be sent.  Click send email when ready to send.  Written by: Kristen Hosman, Microsoft MVP
Read more

Received not invoiced report in Dynamics 365 Business Central

-
Image
If you're using Purchase Orders (PO) in Business Central and have a receiving process that requires a warehouse team to receive items off a PO then this tip is for you. Within the Purchase Orders list you can personalize to add the column Amount Received Not Invoiced. This will all Accounts Payable and the Purchasing team to know what PO's have been received but not invoiced yet. To learn how to personalize Business Central check out this blog:  Personalizing Screens In Dynamics 365 Business Central (kristenhosman.com) Reconcile AP to GL There is also a report in Business Central called Reconcile AP to GL that can be useful. The name doesn't make sense but the data it provides does.  Search for  Reconcile AP to GL and make sure to bookmark it since it's hard to remember. Filter if needed or just select Print or Preview. Review the two pages. “The AP to GL Reconcile report is a 'point in time' report. It cannot be run for prior days as it gets its data from the ...
Read more