This article presents the basics about the fixed asset setup in Dynamics AX 2012.
Before using Fixed assets module, several prerequisites must be setup : number sequences, journal names and default descriptions.
- Number sequences
- Access: Organization administration > Common > Number sequences > Number sequences
- Two number sequences must be created for the FA parameters:
- Automatic number for « Fixed asset number »
- Automatic number for « Fixed asset transfer »
One sequence per journal names: acquiring, depreciating, adjustment, …
Several number sequences per asset groups (optional).
- Journal names
- Access: General Ledger >Setup > Journals > Journal names
Create journal with the type « Post fixed Assets ».
- Default descriptions
- Access: Organization administration > Setup > Default descriptions
Two default descriptions to setup :
Fixed asset – posting, ledger
Fixed asset – reversal of reserve
2/ Assets setup
The standard steps for asset setup are as follows:
- Depreciation profiles
- Fiscal calendar
- Depreciation books
- Value models
- Fixed asset groups
- Posting profiles
2.1/ Depreciation profiles
Depreciation profiles are used to define rules for calculating depreciation. Several methods are available for depreciation calculation.
Access: FA > Setup > Depreciation > Depreciation profiles
Create a new depreciation profile and enter a code and a name.
Field the percentage (depend of the method).
In the Depreciation year field, select Calendar or Fiscal.
Select the period frequency to define when the depreciation is posted.
2.2/ Fiscal calendar
Fiscal calendars are used with fixed asset depreciation, financial transactions and budget cycles. You can select a fiscal calendar for a value model or depreciation book. This fiscal calendar will be used by the fixed assets that use the selected value model or depreciation book.
Access: GL > Setup > Fiscals calendar
2.3 / Depreciation books
You can use depreciation books to track depreciation for tax or other nonfinancial purposes without affecting the General ledger.
Access: FA > Setup > Depreciation > Depreciation books
2.4/ Value model
Value models are necessary for Fixed assets.Value models have the following characteristics:
- They contain and connect all financial information about Fixed assets.
- They achieve complete setup of depreciation for an asset.
- Each value model assigns an additional life cycle to the asset.
- Each asset can have an unlimited number of value models attached.
Access:FA > Setup > Value models
2.5/ Fixed assets groups
There are many reasons for setting up Fixed asset groups, including:
- To simplify the setup of assets
- To help inquiries, reporting, and setting up posting profiles
- To create a template with default information that is copied to a new asset when the company acquires a similar asset
For the reporting, you can create a “major type” classification to link to fixed assets group
- Access: FA > Setup > Major types
Access: FA > Setup > Fixed assets groups
- Link fixed asset group with one or several value model and define the depreciation period.
2.6/ Posting profiles
Fixed assets posting profiles are used to define the integration of fixed asset to General ledger.At least one posting profile must be set up.