Fixed Assets
Business Central Fixed Assets Module
Fixed Assets
The fixed assets functionality in Business Central provides an overview of the fixed assets and helps ensure that their depreciation is correct. It also helps keep track of maintenance costs, manage insurance policies, post fixed asset transactions, and generate various reports and statistics.
See standard Business Central Overview for Fixed Assets: Overview
Setup Fixed Assets
The below list details the setups required for Fixed Assets. Select link for detail
|
To.. |
Learn More Here… |
| FA Setup | Fixed Asset Setup |
| FA Classes | FA Class Setup |
| FA Subclasses (Optional) | FA Subclass Setup |
| FA Locations (Optional) | FA Location Setup |
| Insurance Types (Optional) | FA Insurance Setup |
| Maintenance (Optional) | FA Maintenance Setup |
| Depreciation Books | Depreciation Books Setup |
| Depreciation Tables | Set Up FA User-Defined Depreciation Tables |
| FA Journal Templates | FA Journal & Other Templates Setups |
| FA Reclass. Journal Templates | FA Reclass. Journal Setup |
| Insurance Journal Templates | FA Insurance Journal Setup |
| FA Posting Groups | FA Posting Groups Setups |
Acquire and Create Fixed Assets
There are a few options for acquiring and creating fixed assets in Business Central.
- Create a new fixed asset card by selecting new from the fixed asset list and completing the required fields
- Copy from an existing fixed asset card
- Create the fixed asset when capturing the acquisition purchase order or purchase invoice
- Capture the acquisition cost from the FA G/L Journal
Learn more at Acquire and create fixed assets
Fixed Asset Depreciation
The Calculate Depreciation function may be used to systematically calculate fixed asset depreciation periodically. The function creates a depreciation journal for review and posting.
Learn more at Depreciate FA
Transfer, Split, or Combine Fixed Assets
Fixed assets can be transferred, split or combined if necessary, utilising the Fixed Asset Reclassification Journal.
For example, 10 desk chairs are purchased, and the acquisition cost is captured to 1 FA no., later 1 of the 10 chairs are broken and needs to be disposed of.
The Fixed Asset Reclassification Journal can be used to split the FA in order to dispose of 1.
Learn more at Reclassify fixed assets
Fixed Asset Disposal
When fixed assets are sold or otherwise disposed of, a disposal entry is posted.
Learn more at Dispose or retire FA
Fixed Asset Import
The Fixed Asset Import function may be used to create fixed assets and related fixed asset ledger entries in bulk. This is usually when taking on data from another system.
The FA import template.xlsx should be populated with the fixed asset no's and their related fixed asset ledger entries to create the acquisition cost and depreciation entries.
- Complete the import template in excel per the sample lines provided in the template
- Delete the sample lines
- Save the file as CSV (comma delimited) .csv
- Open the file with notepad and delete the headings and save
The Fixed Asset Import function can be accessed by navigating to the Fixed Asset List.
- Select Search (Alt+Q)
in the upper-right corner, enter Fixed Assets and open the Fixed Assets List - Choose Import Fixed Assets under the Actions ribbon button
- Select OK to Import
- Upload the completed .csv import template file
The Fixed Assets and related Depreciation Books will be created by the import.
The Fixed Asset ledger entries can now be created by posting the Fixed Asset Journal that were created by the import. The Fixed Asset Journal will only post fixed asset ledger entries and not G/L entries as these are posted as part of the financial take on, therefore before being able to post the Fixed Asset Journal, the FA G/L Integration must be disabled.
- Select Search (Alt+Q) in the upper-right corner, enter Depreciation Book and open the Depreciation Book administration
- Edit the Depreciation Book used in the import file
- Under the Integration FastTab disable G/L Integration for the fixed asset posting types used in the import, ie G/L Integration - Acq. Cost, G/L Integration - Depreciation
Once G/L Integration is disabled, the Fixed Asset Journal can be posted
- Select Search (Alt+Q) in the upper-right corner, enter Fixed Asset Journals and open the Fixed Asset Journal
- The imported fixed asset acquisition cost and depreciation journal lines can be posted
- The Fixed Asset Book Value will now be visible on the Fixed Asset List and Card after posting the FA ledger entries
Fixed Asset Analysis and Reporting
Business Central has many built-in fixed asset reports and analytics tools
The Fixed Asset Book Value 01 report is most commonly used for periodic reporting of detailed or summarized information about acquisition cost, depreciation, disposal and book values for groups of fixed assets.
- Select Search (Alt+Q) in the upper-right corner, enter Fixed Asset Book Value 01
- Enter the Depreciation Book
- Starting and Ending Dates for the reporting period
- Group Totals by as required, ie FA Class, or FA Posting Group
- Select Print per Fixed Asset if a detailed report is required
Learn more at Fixed assets reports and Fixed assets analytics