Fixed Assets in Microsoft Dynamics GP 2013-2015
Course 80576
Course Duration: 1 Day
About This Course
The Microsoft Dynamics GP Fixed Assets course describes the processes required to enter, depreciate, and retire fixed assets. This course also demonstrates how to perform additional related functions such as changing asset information, mass changes, partial transfers and partial retirements.
Audience Profile
This course is intended forsomeonewanting to learn the basic features and to develop a working knowledge of the typical day-to-day procedures required to effectively use Fixed Assets. The class is targeted toward data entry clerks, administrators; accountants, CEOs, and consultants who need to understand the technical aspects of Fixed Assets in Microsoft Dynamics GP and gain foundational knowledge of the application’s functionality.
At Course Completion
After completing this course, students will be able to:
- Createasset records, asset books, asset classes, and asset book classes.
- Maintain asset records using transfers, changes, and retirements.
- Depreciate assets and post depreciation from Fixed Assets to General Ledger.
- Understand thepossible integration pointsFixed Assets haswith other Microsoft Dynamics GP modules.
- Identify available utilities that are used to manage asset records.
Prerequisites
Before attending this course, students must have:
- General knowledge of Microsoft Dynamics GP.
- Basic knowledge of accounting principles, especially the concept of depreciation.
Course Outline
Module 1: Overview and Setup Procedures
This module providesan overview of the features and benefits of using Fixed Assets in Microsoft Dynamics GP in an integrated environment. It examines the options available to customize this module to reflect the way your organization does business. You will learn how to set up assets to track depreciation information for a company andwill discuss how to use asset classes and asset books to organize asset data.
Lessons
- Features and Benefits
- Fixed Assets Processes and Integration
- Configure the Fixed Assets Calendar
- Enter Account Groups
- Enter Fixed Assets Post Accounts
- Create Insurance and Asset Class Records
- Create Book Records
- Create Book Class Records
- Fixed Assets Company Setup
- Create Location and Physical Location Records
- Create Lease, Retirement and Structure Records
- Fixed Assets User Preferences
- Enter Existing Assets
Lab: Account Group Setup
Lab: Purchasing Posting Accounts Setup
Lab: Class Setup
Lab: Book Setup
Lab: Book Class Setup
Lab: Fixed Assets Company Setup
After completing this module, students will be able to:
- Modifythe Fixed Assets calendar and enter quarter records.
- Set up Fixed Assets purchasing posting accounts.
- Create book, class and book class records.
- Create location and physical location records which can be assigned to assets.
- Set up Lease, Retirement, and Structure records that can be assigned to assets.
- Enter existing assets when first implementing Fixed Assets.
Module 2: Daily Procedures
This module defines the ways that assets can be added in Fixed Assets. It explores the Payables Management and Purchase Order Processing interface and how to import new asset additions using the Asset Import/Export window. The major focus of this chapter is the interface from Payables and Purchase Order to Fixed Assets.
Lessons
- Asset General Information
- Asset Account Information
- Asset Book Information
- Asset Insurance and Lease Records
- Asset User Data
- Payables Management Interface
- Purchase Order Processing Interface
Lab: Asset General Information
Lab: Asset Book Information\
Lab: Asset Book ITC Information
Lab: Payables Management Interface
- Enter the Invoice in Payables Management
- Add the Paper Shredder to Fixed Assets
Lab: Enter a Purchase Order for a Capital Item
Lab: Receive the Capital Item
Lab: Enter a Capital Item in Fixed Assets
After completing this module, students will be able to:
- Add fixed assets using the Asset General Information window.
- Enter or view the accounts assigned to an asset.
- Enter depreciation related information for assets in each asset book.
- Enter insurance and lease records for assets.
- Enter user-defined fields to track other necessary information about assets.
- Usethe interface between Payables Managementand Fixed Assets to add an asset.
- Use the interface between Purchase Order Processing and Fixed Assets to add an asset.
Module 3: Maintaining Records
This module examines the functionality available to maintain Fixed Assets records. The process to perform depreciation projections, asset transfers, and asset retirements is discussed in detail. The utilities that ensure the integrity of data such as file maintenance, reconcile, and deleting assets are examined. It also discusses the Inquiry windows and reports that can be generated from the Fixed Assets module.
Lessons
- Select Assets
- Depreciation Projections
- Changing Asset Information
- Transferring Assets
- Retire Assets
- Retire Undo
- Asset Utilities
- Using Inquiries
- Report Options and Printing
- Report List
Lab: Select Assets
Lab: Depreciation Projection
Lab: Mass Change
Lab: Transfer an Asset
Lab: Partial Retirement
Lab: Retire Undo
After completing this module, students will be able to:
- Createa group of assets.
- Project depreciation for one asset or a group of assets.
- Change asset information for a single asset or a group of assets.
- Use the Transfer Maintenance window to make changes to asset information.
- Retire assets that are sold or disposed of in your business.
- Undo retirements of assets.
- Reconcile, maintain and delete assets using Fixed Assets utilities.
- Inquire on fixed asset information.
- Create report options and print asset related reports.
Module 4: Period-End Procedures
This module examines the processes that are completed at the end of the month, period, calendar, and fiscal year.It focuses onissues that may cause Fixed Assets to be out of balance with the General Ledger. Italsodiscusses the reports that should be printed prior to performing the closing process.
Lessons
- Period-End Procedures
- Year-End Procedures
Lab: Depreciation
Lab: Fixed Assets to General Ledger Posting
After completing this module, students will be able to:
- Complete period-end procedures at the end of a month or period.
- Complete year-end procedures at the end of a fiscal year.