Manage Fixed Assets in Navision
- January 12, 2017
- Posted by: vishnu
- Category: Funding trends
Microsoft Dynamics NAV provide following features to manage fixed assets: –
- Acquire Fixed Assets
You must set up a card containing information about the asset. Buildings or production equipment can be set up as a main asset with a component list. A fixed asset can be split up into several fixed assets, and several fixed assets can be combined in one. If a fixed asset is partially disposed, it must be separated into two fixed assets, and then one of them can be sold. Fixed assets can be grouped in various ways, for example, by class, department or location.You can set up budgeted assets. This makes it possible to include any anticipated acquisitions and sales in reports.
- Transfer, Split, or Combine Assets
You can use the FA reclassification journal to transfer, split up and combine fixed assets. The reclassification entries can be printed in the Fixed Asset-Book Value 02 report.
- Dispose of Assets
When you sell or otherwise dispose of a fixed asset, the disposal value must be posted. The program calculates the gain or loss. A disposal entry must be the last entry posted for a fixed asset. For partially disposed fixed assets, you can post more than one disposal entry. The total of all posted disposal amounts must be a credit amount. To post a disposal transaction to a depreciation book for which disposal has G/L integration, use an FA G/L Journal. To post a disposal transaction to a depreciation book for which disposal does not have G/L integration, use an FA Journal.
- Maintain Fixed Assets
You can record maintenance costs and the next service date. Keeping track of maintenance expenses can be important for budgeting purposes and for making decisions about whether to replace a fixed asset.
- Insure Fixed Assets
You can link one or more fixed assets to a single insurance policy, and you can also link one fixed asset to the same insurance policy with various amounts. You can use insurance journal for post transactions on fixed assets.
- Revalue Assets
You can adjust fixed assets values by posting appreciation & write-down on assets.
- Depreciate Assets
You can set up multiple depreciation books to accommodate various kinds of depreciation. Also you can use any depreciation calculation method as per your requirement. Navision allow to create customized Depreciation calculation method.
- Manage Budgets for Assets
You can set up budgeted assets. This makes it possible to include any anticipated acquisitions and sales in reports. To prepare your budgeted income statement, budgeted balance sheet and cash budget, you need information about future investments, disposals and depreciation of fixed assets. You can get this information from the Fixed Asset – Projected Value report. Before you print this report, you must prepare the budget.