The Fixed Assets functionality in Microsoft Dynamics NAV provides an overview of your fixed assets and ensures correct periodic depreciation. It also enable you to keep track of your maintenance costs, manage insurance policies related to fixed assets, post fixed asset transactions and generate various reports and statistics.
Fixed Assets
For each fixed asset, you must set up a card containing information about the asset. Buildings or production equipment can be set up as a main asset with a component list.
A fixed asset can be split up into several fixed assets, and several fixed assets can be combined in one. If a fixed asset is partially disposed, it must be separated into two fixed assets, and then one of them can be sold.
Fixed assets can be grouped in various ways, for example, by class, department or location.
You can set up budgeted assets. This makes it possible to include any anticipated acquisitions and sales in reports.
Depreciation
You can set up multiple depreciation books to accommodate various kinds of depreciation. A batch job is used to calculate periodic depreciation.
Maintenance
For each asset, you can record maintenance costs and the next service date. Keeping track of maintenance expenses can be important for budgeting purposes and for making decisions about whether to replace a fixed asset.
Insurance
Each fixed asset can be attached to one or more insurance policies. You can therefore easily verify that insurance policy amounts are in accordance with the value of the assets that are linked to the policy. This also makes it easy to monitor annual insurance premiums.
Posting Transactions:
All posting in the Fixed Assets application area is done from journals. There are four different journals:
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The FA G/L journal
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The FA journal
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The FA reclassification journal
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The insurance journal
Statistics and Reports
For each fixed asset depreciation book, there is a statistics window that provides a quick overview of the book value, depreciable basis, accumulated depreciation, and gains or losses on sales. Each main asset has its own statistics window.
There are several reports available. Some of these can be tailored to meet specific needs.
The following table describes a sequence of tasks, with links to the topics that describe them. These tasks are listed in the order in which they are generally performed.
| To | See |
|---|---|
Learn about setting up fixed assets, including setting up default values, accounting, posting groups, allocation keys, journals, depreciation, and posting types. | |
Create fixed assets, assign depreciation methods, post acquisitions, salvage values, and print fixed asset lists. | |
Learn about maintaining fixed assets, including recording service visits, posting maintenance costs, and viewing maintenance costs. | |
Insure assets, update insurance information, post acquisition costs to insurance policies, modify insurance coverage, view insurance statistics, and list insurance policies. | |
Reclassify fixed assets, transfer fixed assets to different locations, split up or combine assets. | |
Adjust values of fixed assets, post appreciation, and post write-down transactions. | |
Post depreciation, calculate depreciation, and generate fixed assets reports. | |
Post disposal transactions, view disposal ledger entries, and post partial disposals. | |
Find information on managing fixed asset budgets, budget acquisition costs, budget disposals of fixed assets, and budget depreciation. | |
To print reports to analyze the depreciation, acquisition, disposal, and gain or loss values for the accounting period, as well as accumulated depreciation and book value at the end of the period. |