Introduction
This module covers the topic of managing fixed assets in Dynamics 365 Finance. It delves into the three main transaction types used to post depreciation: Depreciation, Depreciation adjustment, and Extraordinary depreciation. It also discusses the process of scrapping a fixed asset and the different methods of disposal when an asset is no longer needed.
Imagine you're a financial manager at a mid-sized manufacturing company. You're responsible for managing the company's fixed assets, which include machinery, vehicles, and buildings. Over time, these assets depreciate, and you need to accurately record this depreciation for tax purposes and to maintain accurate financial records. Additionally, when an asset is no longer needed or has reached the end of its useful life, you need to know how to properly dispose of it, whether through sale or scrapping. Understanding these processes is crucial for maintaining the financial health of your company.
The topics covered in this module include:
- Understanding depreciation transactions and Depreciation run date.
- Creating and reviewing a Fixed asset disposal journal for scrapping assets.
- Managing and posting disposal transactions for fixed assets.
- Creating a depreciation proposal.
- Understanding depreciation, disposal, and scrap transactions in fixed asset management
- Creating and posting free text invoices for fixed asset sales
By the end of this module, you'll understand how to post depreciation using different transaction types, how to scrap a fixed asset, and how to dispose of assets that are no longer needed. This knowledge helps you maintain accurate financial records and meet regulatory requirements.