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Dynamics 365 Business Central Fixed Assets Acquisition

For each fixed asset, you must setup a card that contains information about the asset. You can use the Assisted Dynamics 365 Business Central Fixed Assets Acquisition page to create and post the required general journal lines automatically.

You can set up buildings or production equipment as a main asset with a component list and you can group them in various ways, such as by class, department, or location.

A depreciation book must be setup and assigned to each fixed asset before acquiring it. When a fixed asset is set up and a depreciation book assigned, you must acquire the fixed asset.

To acquire a fixed asset, you record its acquisition cost in the relevant G/L account, bank account, or vendor by posting an acquisition transaction from the Fixed Asset G/L Journal page.

Dynamics 365 Business Central Fixed Assets Acquisition Process

1. To Create a Fixed Asset and Acquire it Automatically

The following procedure explains how to create a fixed asset and then acquire it by using the Assisted Dynamics 365 Business Central Fixed Assets Acquisition page to create and post the necessary fixed asset G/L journal lines. You can also create and post the journal lines manually.

  • Choose the search icon, enter Fixed Assets, and then choose the related link.
  • Choose the New action, and then fill in the fields on the General FastTab as necessary. Go over a field to read a short description.
  • On the Depreciation Book FastTab, fill in the fields as necessary. This step allocates a depreciation book to the fixed asset.
  • If you need to allocate more than one depreciation book to the fixed asset, select the Add More Depreciation Books action.

When all fields required to acquire a fixed asset are filled in, the You are ready to acquire the fixed asset. Acquire notification gets displayed at the top of the page.

  • Select the Acquire action in the notification.
  • Follow the steps on the Assisted Fixed Asset Acquisition page to complete the automatic acquisition of the fixed asset.

When you choose Finish, the Book Value field on the Fixed Asset Card page is filled, indicating that the fixed asset has been acquired at the specified acquisition cost.

2. To Set Up a Component List for a Main Asset

You can group your fixed assets into main assets and their components. For example, you might possess a production machine that contains many parts that you require to group in this manner.

Both the main asset and its components must be setup as individual fixed asset cards. Once setting up a component list is done, MS D365 Business Central automatically fills in the Main Assets or the Component and the Components of Main Asset fields onto the fixed asset cards.

  • Select the search icon, enter Dynamics 365 Business Central Fixed Assets Acquisition and then choose the related link.
  • Select the fixed asset that is the main asset, and then select the Main Asset Components action.
  • On the Main Asset Components page, select the FA No. field and then choose the fixed asset that you want to add as a component of the main asset.
  • Close the page.
  • Repeat steps 3 and 4 for each component asset that you want to add.
  • Choose the search icon, enter Fixed Asset Setup and then choose the related link.
  • Select the Allow Posting to Main Assets check box.

3. To Post a Fixed Asset Acquisition Manually with the Fixed Asset G/L Journal

The following procedure describes how to acquire a fixed asset manually by creating and posting lines on the Fixed Asset G/L Journal page. You can also acquire a fixed asset automatically by using the Assisted Fixed Asset Acquisition page.

  • Choose the search icon, enter FA G/L Journals, and then choose the related link.
  • On the Fixed Asset G/L Journal page, in the FA Posting Type field, select Acquisition Cost.
  • Fill in the remaining fields as necessary.
  • Choose the Post action.

4. To Cancel an Acquisition Cost Posting for one Fixed Asset

If you make an error when posting an acquisition cost, you can remove the entry with the Cancel FA Entries batch job and then publish the correct acquisition entry. The erroneous entries are transferred to the FA Error Ledger Entries page.

For example, if you post an acquisition with the wrong date, you must correct it as soon as possible because the Dynamics 365 Business Central Fixed Assets Acquisition posting date is used is many critical calculations.

  • Choose the search icon, enter Cancel FA Entries and then select the related link.
  • Fill in the fields as necessary. Go over a field to interpret a short description.
  • Select the OK button to execute the batch job.
  • When the incorrect entry or entries are canceled, proceed to post the correct acquisition cost.

To cancel ledger entries for multiple fixed assets at a time, use the Cancel FA Ledger Entries batch job.

5. To Post the Salvage Value Together with the Acquisition Cost

You can post the salvage value together with the acquisition cost from a fixed asset G/L journal.

  • Choose the search icon, enter Cancel FA Entries and then select the related link.
  • Create the acquisition journal line.
  • In the Salvage Value field on the journal line, type the salvage value amount as a credit.
  • Choose the Post action.

The salvage value is the residual value of a fixed asset when it can no longer be used. You can post the salvage value at the same time as you post the acquisition cost.

Indexation is used to adjust values for general price-level changes. The Index Fixed Assets batch job can be utilized to calculate the acquisition costs at replacement costs. For more information on Microsoft Dynamics 365 Business Central Fixed Assets Acquisition, please contact us.

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