Fixed assets are items of value, such as buildings, vehicles, land, and equipment, which are owned by an individual or corporation. You can set up and enter acquisition information for fixed asset records, and then manage fixed assets by depreciating them and setting a capitalization threshold to determine depreciation. You can calculate adjustments to the fixed assets, and also dispose of them.
When you use General ledger with Fixed assets, you can view the current value of all fixed assets. The way in which fixed assets are handled must correspond to both international accounting standards and the accounting legislation in each country/region. Requirements might include rules for recording acquisition and disposal transactions, depreciation, lifetimes, and write-ups and write-downs of fixed assets. The Fixed assets functionality incorporates many of these standards and rules.
Integration of Fixed assets
Fixed assets can be integrated with the following modules and Microsoft products:
- Accounts payable
- Accounts receivable
- General ledger
- Inventory management
- Microsoft SQL Server Analysis Services
- Microsoft SQL Server Reporting Services
- Microsoft Excel
Other functionalities of the Fixed Asset module in Microsoft Dynamics AX enterprise resource planning solution include the following:
- Detailed documentation of company assets
- Simplified tracking of depreciation.
- Allowance for acquisition and disposal of assets.
- Calculated write-ups or write-downs.
- Implements transaction reversals, additional asset groups and attributes, and asset adjustment reason codes.
- Quickly updates replacement cost and insured value for selected fixed assets.
- Easily forecast and monitor the entire lifecycle of fixed assets.
- Allows for the accounting of assets for tax preparation.
Chapter 1 - Setup Procedures
Chapter 2 - Setup of Assets
Chapter 3 - Asset Transactions
Chapter 4 - Inquiries and Reports
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