Dynamics GP Fixed Assets Highlights for Consultant

Dynamics GP Fixed Assets Highlights for Consultant

If you are implementing GP for large organization, FA module often requires such features as initial data conversion.  We figured out that sometimes it is easier to record macro, transfer it into Excel, split the Macro on several columns and then use Series to update the fields that have macro parameters.  Another method is Fixed Assets integration Tool.  Also, customers often require re-depreciate since the items original place in service dates and compare old FA reports with newly produced from Great Plains.  In other words, you should expect the project to take some time and budget.  Let’s take a look at the features and possible questions:

1. Unlimited number of Books, where only one is posting to General Ledger.  For various reasons you may have a book, that is for internal managerial reporting (as company performance for the managers is often not related to FA taxes, which are typically posted to GL for federal reporting).  Also, your state might have additional requirements, plus municipalities might have pretty strict local legislation, especially when you item is real estate object, such as office building, farm land or manufacturing facility

2. Book/Item Class or directly Book/Item master records.  Book Class is where you define the rules – Depreciation Method (Straight Line, Declining Balance), Averaging Convention, TEFRA options, Additional Allowances and Salvation percentages.  Each item requires the class to be specified, and when you open Asset Book form, the info is copied there from Book Class record, and you have the option to override parameters

3. Interface to General Ledger.  For some of the customers it might be something they do not require, for the rest of us only the Book, linked to GL is the book, specified as Corporate Book in FA Company Setup window.  Plus of course when you create or import assets from AP or POP Purchase Receipt, retire (or undo retire), transfer, reset the depreciation to date field, change book-asset depreciation rules – these are also subjects to be posted to GL.  Sometimes we hear questions on how to post FA batches: Tools -> Routines -> Fixed Assets -> GL Posting

4. Fixed Assets creation through AP Invoice.  You have to specify FA Trigger Account in the Purchasing Posting Account Setup form.  Then, if you post AP Invoice, please be sure that you have changed the account with PURCH posting type.  If you followed the procedure, you should be able to import Item with AP invoice description

5. POP FA Import.  It could be done either by triggering PURCH account, or even directly by marking POP Purchase Receipt line as Capital Item.  In both PM and POP modules there is the way to receive one Invoice as several Assets

6. ID and Suffix.  Here the natural advise to have them as Asset Label, which could be printed in Barcoding style for the following annual items count.  ID and suffix could initially be used to form the asset, which is in fact the assembly of several components, each with its own amortization or depreciation rules.  In the future, if you are reassembling such a kit, you cannot change ID and Suffix anymore, but use instead Master Asset ID – this field could be changed at will and it should allow you to combine newly formed set in reporting

7. Location.  This is designed to help you with Asset tax reporting, as here you are specifying the State and municipality

8. Physical Location might sound similar to the paragraph above, but this is used rather for your internal reporting about what you have on the balance in the specific office.  Another option available in the reporting is Structure (maybe specific manufacturing plant, or warehouse building)

9. Insurance, Lease Company.  These master records are for information only and could be used in reports

10. Custodian.  If you mark Validate Custodian in Company Setup, you may assign Custodian, who is set up as Employee in US Payroll master table

11. Serial and Manufacturing numbers.  In case when your Asset is under warranty contract, or your industry regulation require Serial Number tracking, you can enter required info in the Expand Manufacturing Name form

12. User Data.  You can enable up to fifteen user defined fields for each asset.  Each of these fields could be assigned the name, data entry format (text, date, number, telephone, etc.).  If needed, you can add valued values, to have them available via DDL for convenience

13. Asset Book ITC.  There is also some flexibility to support additional deductions from the depreciation base: Section 197, ITC Cost Reduction Amount

14. Some customization considerations.  We’ve implemented numerous and helped customers to recover failed implementations.  For large company it might be the requirement to look up from your GL transaction to your Asset ID.  This task and similar should be created as SQL Update statement based SQL Server Agent job to run every night

15. Reporting options.  There are reasonable set of predefined reports in ReportWriter  (you can always modify them if required).  We found also, that for large organization more user defined and even data drive reports are needed.  Here we recommend you to consider direct SQL Select statement, joining FA tables, Crystal Report, MS SQL Server Reporting Services.  Of course, you can use another ODBC compliant reporting tool, such as MS Access, Excel.  User friendly reporting could be produced in SmartList with export to Excel

16. Modification tools.  Here, as Fixed Assets in separate dictionary, not Dynamics.DIC, we recommend you to think first about Modifier with VBA, versus Dexterity.  You can also reach the majority of the objects in eConnect, but we think this would be too exotic for FA

17. Version consideration.  In our opinion the development for this module has reasonably small magnitude, and you are still on Great Plains 6.0, upgrading to the current version 2010/11.0 or 10.0 – you should still be able to recognize your daily routines in the new interface

18. Table Structure.  You can always analyze this information Tools -> Resource Description -> Tables, switch Product to Fixed Assets, and series to Financials.  For example, FA00100 is your Asset master file, if you found this one, the rest should not be a problem

Source by Andrew Karasev

Leave a Reply