80018 Fixed Assets in Microsoft Dynamics AX 2009

Course Outline

Module 1: Introduction

This module explains the basic Fixed Assets concepts and components. It also describes the integration between Fixed Assets and the General Ledger, Accounts Payable, Accounts Receivable, and Inventory Management modules.

Lessons

• Fixed Assets Overview
• Functionality That Is Required for Fixed Asset Accounting
• Structure and Integration With Other Modules

• Provide an overview of Fixed assets.
• Review required functionality for Fixed assets.
• Review the integration of Fixed assets with General Ledger, Accounts Payable, Accounts Receivable, Project Accounting and Inventory Management modules.

Module 2: Setup Procedures

This module explains how to perform the necessary setup of the system and the Fixed Assets module. It also describes some country specific setup requirements.

Lessons

• System Setup for Fixed Assets
• Fixed Assets Module Setup- Depreciation Profiles, Asset Calendars and Depreciation Books
• Fixed Assets Module Setup- Value Models, Asset Groups, Disposal and Posting Profiles
• Fixed Assets Module Setup- Parameters
• Capitalization Threshold- Fixed Assets
• Parameters- Purchase Orders Field Group
• Reason Codes in Fixed Assets
• Depreciation Methods
• Depreciation Conventions
• Depreciation Books Overview
• Extended Functionality Features - Provision Types and Bonus Depreciation
• Mass Update Depreciation Conventions for a Depreciation Book
• Country and Region Specific Features

• This lab provides experience in setting up the Journal names for the journals used by Fixed assets.

• This lab provides experience in creating the ledger accounts necessary to create and post fixed asset transactions.

• In this lab, the number sequences necessary for the Fixed asset module will be set up.

• A Depreciation profile will be set up in a practice environment.

• This lab provides experience in creating Value models.

• Fixed asset groups are an important component of the fixed asset setup. This lab provides experience in setting up those groups.

• A Posting profile will be set up in a practice environment.

• Review system setup for Fixed assets.
• Review the basic setup requirements for the Fixed assets module.
• Discuss the Value models, Asset Groups, Disposal and Posting profile components of Fixed assets setup.
• Discuss the setup of Parameters within Fixed assets setup.
• Explain how to use the Capitalization threshold.
• Discuss Fixed asset Purchase orders field group parameters.
• Describe, create and modify Reason codes in Fixed assets.
• Review depreciation methods.
• Review depreciation conventions.
• Depreciation books overview.
• Introduce extended functionality setup requirements for Fixed assets.
• Review Mass update depreciation conventions for a depreciation book.
• Introduce country and region-specific features in Fixed assets.

This module explains how to set up the company’s fixed assets in the application. It also covers lending assets, assigning bar codes to assets, and budgeting with assets. Project module integration will also be discussed.

Lessons

• Fixed Asset Form
• Setting Up Assets in the Fixed Asset Module
• Inquiries In The Fixed Assets Form
• Inquiries In The Depreciation Book Form
• Lending Assets
• Assigning Bar Codes to Assets
• Asset Budgeting
• Project Module Integration to Fixed Assets

• Comprehensive practice in creating and setting up a fixed asset will be provided in this lab.

• Review the fields and functionality available in the Fixed asset table.
• Distinguish between financial and non-financial information for assets.
• Set up a fixed asset.
• Demonstrate the use of inquiries in the Fixed asset table.
• Review the inquiries available in the Depreciation book form.
• Review asset lending.
• Review assigning bar codes to assets.
• Review the features of asset budgeting.
• Associate and manage fixed assets within the Projects form.
• Review the fixed asset details associated with a project or subproject.

This module explains how to use and record different Fixed Assets transaction types. It covers acquisition, depreciation, value adjustments, and disposal. Procedures for creating and acquiring fixed assets using Accounts payable Purchase orders are also discussed. Maintenance of asset transactions is explained, such as transaction reversal, updating replacement costs and insured values, copying fixed assets and changing groups, and fixed asset additions.

Lessons

• Typical Fixed Asset Transaction Types
• Recording Asset Transactions - Acquisitions
• Creating and Acquiring Fixed Assets From Purchase Orders in Accounts Payable
• Recording Asset Transactions - Depreciation
• Recording Asset Transactions - Value Adjustments
• Recording Asset Transactions - Disposals
• Other Asset Transactions
• Transaction Reversals - Fixed Assets
• Replacement Cost and Insured Value Update
• Copying Fixed Assets and Changing Fixed Asset Groups
• Fixed Asset Additions

• In this lab, practice will be provided in acquiring a fixed asset using the Fixed assets journal.

• Companies often build fixed assets from inventory items. This lab provides practice in creating and posting the necessary journal.

• For efficiency, Microsoft Dynamics AX 2009 provides proposal functionality in the asset journals, which aids in the decision and selection of which asset transactions to post. This lab provides practice in working with those proposals.

• Companies often sell or scrap fixed assets, especially at the end of their useful lives. Practice will be provided in this lab for disposal of assets.

• Use asset transaction types.
• Use journals to manually enter fixed asset transactions.
• Create fixed assets in accounts payable.
• Control fixed asset acquisition transaction creation from accounts payable.
• Restrict user group permissions for posting fixed asset acquisition transactions in accounts payable.
• Create a fixed asset record directly from accounts payable, during posting of a purchase order packing slip or invoice.
• Describe when the Fixed asset receipt and Fixed asset issue account types will be used.
• Set up the Fixed asset receipt and Fixed asset issue accounts.
• Use proposals to enter fixed asset transactions.
• Discuss value adjustments for fixed assets.
• Discuss fixed asset disposals.
• Discuss other kinds of asset transactions.
• Describe where fixed asset transaction reversals are performed.
• Perform fixed asset transaction reversals.
• Describe how the replacement cost factor and the insured value factor on the asset group, are used to update an asset's replacement cost and insured value amounts.
• Process updates to an asset's replacement cost and insured value amounts.
• Copy a fixed asset.
• Change a fixed asset group.
• Enter a fixed asset addition.

This chapter explains how to create and view the inquiries and reports available in the Fixed Assets module.

Lessons

• Inquiries
• Reports

• Review data inquiries available in Fixed assets.
• Review reports available in Fixed assets.