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Microsoft Dynamics GP Fixed Assets helps you create and maintain records of assets such as property, plant equipment and vehicles. This module provides complete tracking of fixed assets from the time they are acquired up to the point when they are retired from use.
Description and Tracking of assets
Dynamics GP 10.0 Fixed Assets module enables users to efficiently manage the physical inventories - defining the specific assets, where they are located and the condition of each item. Besides tracking leased assets, it also tracks the movement of assets from one location to another as well as the repair and maintenance of the items. Ensuring that the hazard insurance policies are current and up to date is vital in case of catastrophic events and this module keeps track of policy expirations.
Seamless Integration with General Ledger Accounting
Dynamics GP 10.0 Fixed Assets module allows accountants to properly report the state of affairs to the stakeholders such as shareholders and creditors, by providing the means to capitalize, depreciate and dispose assets. This accounting software also provides the capability of demonstrating the impact of Fixed Assets on the General Ledger and keeping Payables, Purchasing, Receivables, Sales and General Ledger tightly integrated and providing a seamless flow without any effort.
Future Projections and Tax Reporting
Forecasting depreciations is a feature within Dynamics GP 10.0 Fixed Assets, which allows projections into the future. Tax reporting is also easily facilitated as it allows the same asset to be depreciated across two different methods and facilitates comparisons. This module also allows users to specify different rules for state and federal taxes, as the taxation may be different. The way it is reported at the corporate level as opposed to the taxation level may be entirely different and Dynamics GP 10.0 accommodates this easily.
Key benefits
1) The main benefit of using Dynamics GP 10.0 Fixed Assets is that it allows you to create an unlimited number of book classes. Book Class records allow you to group assets according to how depreciation should be handled when reporting to |
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Federal, State, and Corporate levels. Book class records can also be used to group assets based on type of property, depreciation method, depreciable life and averaging convention.
2) It enables you to define 15 user defined fields in the Fixed Asset Company window. This facilitates flexibility and scalability across many industries.
3) Accuracy of data is maintained, since only valid data can be entered in the transactional windows based on the Book class, Location, Account Groups and Insurance Classes etc. that have been pre-defined.
4) Fixed Assets enables complete flexibility as depreciation can be calculated for a single asset, an asset class, a group of assets, assets in a particular book or all assets.
5) Depreciation projections can be run, to forecast the potential impact in the future without affecting the Fixed Asset files.
6) If there are any changes to fixed assets, Dynamics GP 10.0 allows you to reset the depreciation for the current year or to the beginning of the life of the asset or to depreciate forward using the new data.
7) Mass changes can be processed easily, for retiring assets. Once the asset is retired, the gain or loss is automatically calculated based on the selling price and the net book value.
8) Mass changes can also be processed for transfers of assets. Whether the asset is transferred or received, the appropriate depreciation is automatically allocated for the transferring asset and this depreciation will be calculated on the transfer date of the asset.
9) There are numerous reports that come standard with the Fixed Assets module. These reports can be easily modified or customized to meet the company’s user requirements.
10) The inquiry window allows you to trace the origin of the transaction even if it came from outside of the Fixed Asset module.
11) There is seamless integration between Fixed Assets, Purchasing Order Processing, Payables and General Ledger, witho
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