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Intelligent Technologies, Inc.

Save Time and Money with Dynamics GP 2013’s Fixed Asset Module

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Microsoft Dynamics GP 2013’s new perpetual licensing structure gives users access to many additional modules at no extra charge. One such module is the fixed asset module. Though many users may not have been familiar with the fixed asset module in the past, once they are introduced to its features and functionality the benefits it provides are obvious.   A few of the advantages of utilizing fixed assets in GP are as follows:

  • Unlimited number of book classes—book classes allow you to group assets according to how depreciation should be handled when reporting to Internal, Federal, State etc.
  • Asset handling capabilities—In the past, 3rd party add ons were required for asset handling, but not anymore, which saves users money on maintenance fees and decreases the opportunity for error.
  • Improved inventory tracking and management
  • Enhanced reporting—Dynamics GP’s fixed asset module includes a variety of reporting options.
  • Streamlined posting—Perhaps, one of the fixed asset module’s biggest advantages, users now have ability to post directly to the general ledger. You can either post multiple transactions to one asset or one transaction to multiple assets.

Now, to get the streamlined posting options I mentioned a moment ago to work, you are going to need to integrate PO and Payables with Fixed Assets.

How to integrate PO and Payables with Fixed Assets in Dynamics GP 2013:

  1. On the Microsoft GP menu, click on Tools--> Setup-->Fixed Assets
  2. Click Company
  3. Verify that Post PM through to FA is marked. If not. Microsoft case KB2761966 will walk you through the setup. Once enabled, create an invoice through Payable Transaction Entry Distribution window.   It’s imperative that you select “Distributions” and denote the fixed asset clearing count. In this instance, the account is 000-1590-00
  4. Select Cards --> Fixed Assets -->Asset General Information.
  5. Next, you must enter an asset ID. To do this, Select the Purchase button and point to the respective document from AP. Automatically the general information tab will be populated with corresponding information related to the Invoice that resides in AP.
  6. Now, it’s time to post to the general ledger. Go to Tools --> Routines --> Fixed Assets --> GL Posting.
  7. From here, a batch is created which will need to be reviewed and posted in Transactions --> Financial --> General

FA blog pic


If you would like to learn more about Microsoft Dynamics GP and its capabilities, please visit our website.

Have questions about this process, or Dynamics GP in general? Our expert ERP consultants will be happy to help. Contact us today!

By: Chris Butcher, Intelligent Technologies, Inc., a SC Microsoft GP partner

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