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Dynamics Fixed Assets

  • 1.  Dynamics Fixed Assets

    Posted 11 days ago
    Hello all,

    At my company, we currently collect our project costs in WIP accounts, until the project is completed and ready to be placed in service. At that point we manually add the total cost as an asset in Dynamics GP.

    Rather than repeating this same process, I want to reach out to see if there is an alternative way to post fixed assets-related invoices to specific assets for us to collect the costs without having them go to WIP first? Is there a way to track invoices by projects, using the out-of-the-box version of GP? I am interested to know how other companies are handling fixed assets, especially the WIP portion of fixed assets.

    We are currently on Microsoft Dynamics GP 2016, 16.00.0439 if that helps.

    Thank you,

    Minh Le
    International Facility Management Association
    Houston TX
    Academy - Online Interactive Learning from Experts

  • 2.  RE: Dynamics Fixed Assets

    Posted 10 days ago
    GP Fixed Assets is fully integrated to the Purchasing module and Project Accounting.
    So you can create a Purchase Order with a Line Item against a Project and Cost Category. Then you designate that Line Item as a Capital Item.
    Now in PO Receiving the Line Item can be associated to an existing Fixed Asset  (see 0990) or a new Fixed Asset can be created.
    When the PO Receipt is posted I would set up my Project posting to debit Fixed Assets for that type of transaction as the Fixed Asset has now been auto created or its cost has been updated and ready for Depreciation.
    If the PO Line Item is designated as a Capital Item and you forget to associate it to a Fixed Asset in POP Receiving, you can still do it later in the Fixed Assets module using the Purchasing button on the Asset. Better to get it at Receipt or Shipment/Invoice time though.
     See screen shots:

    And after posting the Fixed Asset has been incremented:

    Thaddeus Suter
    Retus, Inc

    Academy - Online Interactive Learning from Experts

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