Fixed asset setup: presentation

This article presents the basics about the fixed asset setup in Dynamics AX 2012.

1/ Prerequisites

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
• Parameters

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.
• Select Method.
• 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.

Access: FA > Setup > Fixed assets posting profiles

2.7/ Parameters

In this form, you can select the option for the accounting rules, acquisition from purchase order, …

Access:FA > Setup > Fixed assets parameters