Managing Fixed Assets Functionality in Microsoft Dynamics AX
Microsoft Dynamics AX ERP’s Fixed Assets module helps organizations to acknowledge appropriate valuation of your fixed assets (land, buildings, vehicles, and equipment). The Fixed Assets module in Dynamics AX easily integrates with the Accounts receivable, Accounts Payable, Inventory, and corresponding General Ledger entries to offer you with transparency of your net holdings. for you to utilize different methods and conventions to track the true value of your assets. The Fixed assets in Dynamics AX are handled with respect to the international accounting policies, standards and accounting legislation of the regional territories across the world. You'll be empowered with Dynamics AX that offers you with number of ways to rotate and record your acquisitions in vendor invoices, vendor invoice journal, general journal, or in the fixed asset journal. Similarly, Depreciation proposals, value adjustments, and asset revaluations are done with great ease.
Regulating Fixed Assets Life Cycle using Dynamics AX
Your Fixed asset items holding commercial value goes through four crucial Stages - Acquire, Depreciate, Adjust, and Disposition of the Fixed asset. Using Microsoft Dynamics AX, you can engage yourself to Acquire, Depreciate, Adjust, or Dispose your Fixed assets at any point of time for financial liquidity.
Using General ledger for your Fixed Assets in Dynamics AX
The presence of the Fixed Assets module in Microsoft Dynamics AX will help you obtain information about the current value of your accumulated assets in the sub-ledger. Dynamics AX set up standard specifications for creating strong relationship between one or more sub-ledgers and General ledger for the benefit of yours.
Tailored Role Centers in Dynamics AX
Microsoft Dynamics AX is embedded with customized Role Centers for executing multitude of financial functions across your organizations. These Role Centers are the home pages that gives you an in-depth insight of the tasks to be accomplished in the future.
Initializing Fixed Assets Parameters in Dynamics AX require prerequisites such as:
- Setting Number Sequences (Fixed Asset Number and Fixed Asset Transfer) per asset groups
- Setting Journal Names or General Ledger
- Creating Default Descriptions of the Fixed asset
- Setting and posting of the Depreciation profiles or Depreciation booklets enclosed with defined rules to calculate depreciation value of assets
- Organizing Fiscal calendar and using it for various budget cycles
- Defining major types of Fixed Asset Groups for making inquiries, reporting, and more
Techno-Functional Benefits of the Fixed Asset Module in Dynamics AX:
- Provides detailed documentation & depreciation of company's fixed assets
- Purchase, lend, transfer, split, and amortize Fixed asset
- Records acquisition and disposition of your asset
- Calculate adjustments, re-adjustments, write-ups and write-downs
- Enables accounting of assets for undertaking tax preparation and procedures
- Monitors and maintains full lifecycle of the standard fixed assets
- Updates appreciation and depreciation value of the selected fixed assets
- Allows estimates of Fixed asset acquisitions
- Locks the asset for future transaction proceedings
- Administers tangible or intangible fixed asset budget journal and ledger budget register
- Perform multiple valuation for single Fixed asset
Contact Raybiztech to seek assistance in setting up Fixed Asset Functionality in Microsoft Dynamics AX
