Enhancements to the Fixed Asset Module in Microsoft Dynamics GP 2013

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Microsoft Dynamics GP 2013 will include a number of enhancements for the Fixed Asset module that should be a welcome change for fixed asset end users. Below is a list of the enhancements included in the Dynamics GP 2013 release. I’ve highlighted four of them that merit further discussion:

  • Historical Depreciation Reports
  • Reset History in Detail
  • Restrict Displaying Reset Transactions
  • Lock Fixed Assets Year
  • Process Progress Bars
  • Mass Depreciation Reversal
  • Independent Fixed Assets Calendars
  • Define Short/Long Calendar Years
  • Auto generate Next Asset ID
  • Intercompany Asset Transfer
  • Fixed Assets Transactions Batches
  • Post in Detail to General Ledger
  • Analytical Accounting Integration with Fixed Assets
  • Documentation Updates for MACRS

 

Historical Depreciation Reports

Prior to Dynamics GP 2013, users would have to make sure they processed and generated depreciation and depreciation reports before starting to depreciate in the current year. This often caused confusion and generated the question “Am I able to run prior year depreciation reports after closing the year?” or “Can I run current year depreciation reports while prior year is still open?” The answer to that question is now “YES”. The report option window has been redesigned and now includes an option to print an “as of” date.

Mass Depreciation Reversal

It happens all the time; depreciation is processed erroneously for an entire group of assets, or perhaps even for all the assets in the system. Prior to GP 2013, you had two choices; 1) restore from backup or 2) reverse depreciate one asset of a time. Let’s face it; very few GP users create backups prior to running depreciation and therefore eliminating the first option right away. After double checking the solution with our Customer Care team, most users proceed to back out each asset one at a time. Dynamics GP 2013 has now given you the ability to back out depreciation for groups of assets. Create a group of assets and simply select that group when backing out depreciation and relish the fact you’ll leave work at 5pm instead of 7pm.

Independent Fixed Assets Calendars

Independent Fixed Assets Calendars allows users to create multiple calendars including calendars not dependent on GP fiscal periods in company setup. You now have the option to create fixed asset calendar years even if the company reports on a fiscal year cycle. This will especially come in handy when reporting to the federal and state level. In addition, you now have the ability to create Short/Long Year scenarios with the appropriate depreciation percentage assignment.

Auto Generate Next Asset ID

Auto Generate Next Asset ID seems like it should have been around since inception. Voucher numbers and RM numbers are auto generated, why not Fixed Asset numbers? Ever wonder why you have to assign the asset an ID before bringing it in from AP? On several occasions I’ve seen examples on users bringing in an asset, without assigning a number to it, only for it to be saved without a number. An asset without an ID number creates havoc in the system and will undoubtedly generate a support ticket to our Customer Care team. GP 2013 has now reversed this trend by adding a setting in the fixed asset company setup for the module to auto generate the next asset ID number.

 

Written by:
Eric Marschke, Customer Care Representative
FMT Consultants, LLC

 

FMT Consultants, LLC is a leading Microsoft Dynamics GP Partner & Dynamics CRM Partner offering a wide range of innovative technology services within the areas of CRM & ERP systems, SharePoint & Collaboration, SQL & BI, Office 365, Managed IT Services, Dell Hardware Solutions and Integration & Custom Development Services. Visit www.fmtconsultants.com for more information.

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