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NAV Updates

Fixed Assets Maintenance in NAV -Part 1

All companies have to keep track of the maintenance of their fixed assets. Microsoft Dynamics NAV helps a  company to keep maintenance information up to date. This article explains how to set up maintenance information for fixed assets and describes the functionality and processes of registering maintenance on fixed assets.

Fixed Assets Maintenance Information

Maintenance expenses are the routine periodic costs charged to preserve the value of the Fixed Assets. Unlike capital improvements, the maintenance expenses do not increase the value of assets.

To use the fixed asset maintenance functionality in Microsoft Dynamics NAV, you should set up the following:

  • Maintenance information on the fixed asset card.
  • Fixed asset posting groups to allow the posting of maintenance costs to the general ledger.
  • Allocation keys to maintaining costs allocated to departments and projects.
  • Maintenance codes so that you can choose the type of maintenance when you post the maintenance costs.

Fixed Asset Card

On the fixed asset card, on Maintenance FastTab, you can set up maintenance data for the fixed asset as described in the below table.

Field Value
Vendor No The number of a vendor who supplied the fixed asset.
Maintenance Vendor No. The number of a vendor who performs the maintenance for the asset.
Under Maintenance Choose this checkbox if you want to indicate that the fixed asset is under the maintenance. You can use this data as the filter in reports.
Next Service Date The date of a next scheduled service. This information can be used as a filter in reports.
Warranty Date The date on which warranty expires.
Insured This field is set to Yes. You can click to the link in the field to see the insurance ledger entries.
Fixed Assets

Fixed Assets

Setting Up FA Posting Groups

In Microsoft Dynamics NAV, all maintenance costs can be recorded to the fixed asset. In addition to entering the maintenance data on the fixed asset card, you can choose the maintenance expense account number in FA Posting Groups window to allow posting of the maintenance costs to a general ledger.

To set up a FA posting group for the maintenance costs, follow these steps:

  1. In navigation pane, click to the Departments > Financial Management > Administration > FA Posting Groups.
  2. In the FA Posting Groups window, for each posting group, choose the Maintenance Expense Account field, and then choose the relevant G/L account.
FA Posting Groups window

FA Posting Groups window

Setting Up Allocation Keys

You can use allocation keys to allocate costs to several accounts, departments, or projects. For example, you could set up an allocation key to allocating depreciation costs on cars with 35 percent to the administration department and 65 percent to the sales department. If you set up the allocations, the program allocates an amount on the fixed asset general journal or the recurring journal to one or more balancing accounts. When you use the Reclassify function from a fixed asset reclassification journal or Insert FA Bal. Account function from the fixed asset G/L journal, program will insert the account(s) that you have set up. You can allocate the keys such as the acquisition cost, depreciation, and maintenance.

To set up the allocation key, follow the below steps:

  1. In navigation pane, click to the Departments > Financial Management > Administration > FA Posting Groups.
  2.  In FA Posting Groups window, choose the line with the posting group for which you want to set up the allocation keys, and then, on the Navigate FastTab, click Allocations and select the allocation key.

The FA Allocations window appears where you can set up the allocation keys.

allocation window

allocation window

3. In the FA Allocations window, fill the fields according to the guidelines in the below table

Field Description
Account No. Enter the G/L account number to allocate an amount on the journal line to. Choose the field to see the list of accounts.
Account Name This field contains the name of the account chosen in an Account No. field. The program fills in this field automatically.
Allocation % Enter the percentage of an amount to allocate to an account on this line.

 

Note: You can allocate the dimensions to those other than the default global dimensions by choosing the line, clicking to the Dimensions on the Navigate FastTab, and then selecting the required dimension code and the values in Edit Dimension Set Entries window.

Allocating Dimensions

To allocate a dimension, follow these steps:

  1. In navigation pane, click to the Departments > Financial Management > Administration >FA Posting Groups.
  2. In the FA Posting Groups window, choose the line with the posting group, and then, on the Navigate FastTab, click to the Allocations > Maintenance.
  3. In the FA Allocations window, choose the line with an account for which you want to allocate the dimensions, and then click Dimensions on the Navigate FastTab.
  4.  In the Edit Dimension Set Entries window, choose to the required dimension code and values.
Car Maintenance Window

Car Maintenance Window

5. Click OK.

Setting Up Maintenance Codes

The Maintenance Code is used to describe the kind of maintenance performed on the fixed asset. For example, routine service or repair.

Maintenance Codes

Maintenance Codes

Use the Maintenance window to set up the codes so that you can enter that in the Maintenance Code field. To open the Maintenance window, in the navigation pane, click to the Department > Financial Management > Fixed Assets, and then, under Setup, click Maintenance.

To create a new maintenance code, click New on the Home FastTab, and then, in the Code field, type code for the maintenance. In Description field, type a description of the maintenance.

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