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MICROSOFT DYNAMICS® AX 2012 R2:
FIXED ASSETS
December 2012
Version 1.0
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Microsoft Dynamics AX 2012 R2: Fixed Assets
Contents
Introduction ........................................................................................................................................ 3
Audience .............................................................................................................................................. 3
Problems this Demo Addresses ................................................................................................. 4
Key Benefits and Solutions ........................................................................................................... 4
Overview .............................................................................................................................................. 6
DEMO 1: Create Fixed Asset with Value Models................................................................. 7
DEMO 2: Fixed Asset Acquisition ........................................................................................... 13
Fixed Assets Acqusition Using Proposal in the Fixed AssetS Journal ....................................................................................... 13
Acquire Fixed Asset from Purchasing ................................................................................................................................................. 16
Record Acquisitions in the Inventory to Fixed Assets Journal .................................................................................................... 19
DEMO 3: Fixed Asset Depreciation ........................................................................................ 20
Using Proposals in the Fixed Assets Journal to Record Depreciation...................................................................................... 20
Using Proposals in the Depreciation Book Journal to Record Depreciation ......................................................................... 21
DEMO 4: Fixed Assets Disposal............................................................................................... 23
Register Disposal Sales Using Free Text Invoice ............................................................................................................................. 24
Provision for Reserve ................................................................................................................................................................................ 26
DEMO 5: Fixed Asset Reports .................................................................................................. 27
OPTIONAL DEMO 6: Fixed Assets module Setup........................................................... 31
Depreciation Profiles ................................................................................................................................................................................ 32
Depreciation Books ................................................................................................................................................................................... 34
Value Models............................................................................................................................................................................................... 37
Major Types ................................................................................................................................................................................................. 41
Fixed Asset Group ...................................................................................................................................................................................... 41
Posting Profile ............................................................................................................................................................................................. 45
Setting up Disposal ................................................................................................................................................................................... 48
Disclaimer ..................................................................................................................................................................................................... 51
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Microsoft Dynamics AX 2012 R2: Fixed Assets
INTRODUCTION
This document examines The Microsoft Dynamics® AX 2012 R2 fixed assets module, which enables the ability to
easily setup, maintain, and track the valuation of your fixed assets. You can track multiple valuations for the same
fixed asset by using different depreciation methods and conventions.
Support has been provided to add fixed assets to the system in multiple ways. These include adding the fixed
asset when recording a vendor invoice and through journal entry in the fixed assets, accounts payable and general
ledger modules. Parameters around acquisitions, valuation, and other business policy rules can be defined at the
module level and for each value model.
Depreciation proposals can be run for each depreciation frequency, providing for fast and accurate depreciation
journal entry creation. Additionally, workflow and budget controls can be enabled to guarantee accuracy and
control of the processes.
Throughout the processes, a complete history is maintained. This includes an accurate, comprehensive audit trail
between the fixed assets transactions and their corresponding general ledger entries. Reports, such as fixed asset
transactions and fixed asset balances, can be generated, and up-to-date inquiries can be performed to track your
fixed assets activities.
AUDIENCE
The demonstration in this document should be used to show the value of Microsoft Dynamics AX 2012 R2 fixed
assets to a business decision maker (BDM) and accounting personas. The following role examples represent key
decision makers, selection process personnel and influencers, and evaluators:
Accounting Manager (Phyllis)
Phyllis manages the accounting department by processing general ledger transactions, reviewing and approving
transactions, and reviewing aging reports. She also makes sure that her team accurately completes financial
procedures on time.
Accountant (Cassie)
Cassie either does the books (for a small business), or audits the books (for any size company). In an internal role
as an employee, Cassie handles accounting duties in a complex finance department.
Accounts Payable Coordinator (April)
April receives vendors invoices for company fixed assets and posts acquisition transactions from purchasing.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
PROBLEMS THIS DEMO ADDRESSES
This script focuses on the fixed assets accounting life cycle in a company. There is demonstrated flexibility
of fixed assets acquisition and maintaining value until their disposal.
This script focuses on the following processes:
Fixed asset setup
Fixed asset acquisition
Fixed asset depreciation
Fixed asset disposal
Fixed asset reporting
KEY BENEFITS AND SOLUTIONS
FLEXIBLE CONFIGURATION OPTIONS FOR SETUP AND MAINTENANCE OF FIXED ASSETS
Fixed assets can be set up to track non-transactional data about the asset. Flexible setup includes the ability to
define the following types of information:
Basic fixed asset details, such as location, type, major type, property type and property group, and
user-defined reference data and notes.
Technical information about the fixed asset, such as the make, model, and maintenance dates and
condition.
Insurance information for the fixed asset, such as the insurance vendor, policy number and amount, the
insured value, and the replacement cost.
You can group fixed assets to categorize information in a meaningful way.
Accounting information, such as default financial dimensions, can be assigned to fixed assets value
models.
MULTIPLE VALUATION TRACKING FOR THE SAME FIXED ASSET
Fixed assets enables the tracking of multiple valuations for the same fixed asset. This can be done by setting up
the fixed asset in one or more of the following ways:
Associating the fixed asset to multiple value models where the value model determines the
depreciation method, convention, and posting layer.
Associating the fixed asset to multiple depreciation books where the association determines the
depreciation method and convention, but does not integrate into the general ledger.
RECORDING FIXED ASSET ACQUISITIONS AND VALUATION ACTIVITY
Microsoft Dynamics AX 2012 R2 supports different ways to record acquisitions of fixed assets. You can record the
acquisition of a fixed asset when recording a vendor invoice, vendor invoice journal, general journal, or in a fixed
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Microsoft Dynamics AX 2012 R2: Fixed Assets
asset journal. Depreciation proposals can be generated for each depreciation period in a fixed asset journal.
Additional valuations, such as adjustments and revaluations, can be recorded in the fixed asset journal.
Microsoft Dynamics AX 2012 R2 supports the following fixed assets business requirements for acquisition and
valuation activities:
Record fixed asset acquisition amounts through vendor invoices or vendor invoice journals.
Record fixed asset acquisition amounts through general journals or fixed asset journals.
Generate and edit depreciation proposals based on depreciation method, convention, and frequency.
Record adjustments to the acquisition costs of the asset.
Record adjustments to the depreciation of an asset.
Record additional valuation adjustments to an asset, such as write ups, write downs and revaluations.
Transfer an asset from one financial dimension to another, such as one department to another
department.
Split an asset to another asset.
Record additional activity to an asset that does not affect valuation or service life.
Record the disposal of an asset by sale or scrap. This includes any realized gain or loss from the
disposal of the asset.
REPORTING AND INQUIRIES
Various reports and inquiries are available to provide required information about your fixed assets.
Fixed asset transaction inquiries
Fixed asset movement reports which provide information around the various valuation movement of
an asset over time
Fixed asset balance reports
Fixed asset book compare report which provides a comparison between two books; or value models
and depreciation books
Fixed asset statement report
FLEXIBLE FORECASTING
You can record the forecast of your fixed asset acquisitions and depreciations in a fixed asset budget
journal entry. The fixed asset budget journal entry can also update the ledger budget register. An inquiry
and a report are available to view the fixed asset budget entries
DEMO PRESET CONFIGURATION:
This script was written to work with the Microsoft Dynamics AX 2012 R2 RTM Virtual Machine (VM),
released in December 2012. Make sure that the VM is up and running and that you have logged on. The
script addresses key pain points and challenges that different roles might face. However the demo can be
completed as the system administrator.
Domain: CONTOSO
User: Administrator
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Microsoft Dynamics AX 2012 R2: Fixed Assets
Password: pass@word1
OVERVIEW
This demo introduces the basic steps required to configure, maintain and retire Fixed Assets in Microsoft
Dynamics AX 2012 R2. The following diagram provides an overview of the major concepts covered AX
2012 R2 fixed asset module functionality.
This Demo script introduces you to key features that are available to users of the Fixed Assets module in
AX 2012 R2.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
DEMO 1: CREATE FIXED ASSET WITH VALUE MODELS
To set up a fixed asset, follow these steps:
1. On the navigation pane, click Fixed
assets, Common, Fixed assets, and then
click Fixed assets.
2. Click the Fixed asset button to create a
new fixed asset.
3. In the Fixed asset group field, select
the Fixed asset group: FURN_FIX.
4. Type name of the Fixed Asset:
Documents Case
Depending on the setups completed in a company, various information can auto-populate based on Fixed
asset group setup as follows here:
Fixed asset number is assigned when Auto numbering is activated from either the Fixed asset group or
Parameters in Fixed assets. Type, Major type, Property type, Value model, Depreciation books
5. Set up, if necessary, additional attributes
of the Fixed Asset in the following
FastTabs: Technical Information,
Insurance, Location
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Microsoft Dynamics AX 2012 R2: Fixed Assets
6. Click the Value Models button on the
Action Pane.
In the Status field on the asset's Value models form, the field at first uses a value of Not yet acquired.
The other statuses are assigned manually or automatically as follows:
• Open - Set when an asset is acquired.
• Suspended - Assigned manually. This status is used for periodic suspension of depreciation calculation.
• Closed - Assigned to depreciable assets when the net book value becomes zero.
• Sold - Assigned to assets disposed of by sale.
• Scrapped - Assigned to assets disposed of as scrap through a journal.
The selections made in definition of Fixed Asset Group resulted automatic assignment of the Value
models. Value models determine what financial information is recorded and stored for a fixed asset.
In order to demonstrate the concept of Value models, close currently opened Value models, relevant for
newly being set up Fixed Asset, and move to a Fixed Asset FURN_FIX-000008 available in sample data and
open its Value models.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
7. On Fixed Asset number FURN_FIX-
000008 click button Value Models, and
after that, Transactions. In the current
form, the transactions relevant for the
selected fixed asset in context with the
specified value model are displayed.
8. On the transaction list, select the first
record (acquisition). Select the Voucher
button to show the journal entries posted
to General Ledger related to the
acquisition transaction for the specific
fixed asset.
9. Close Voucher transaction and Fixed
Asset transactions forms.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
Demonstrate additional capabilities of
Value models. Present summary amounts
of transactions posted in Value model.
10. In Value models form select first Value
model 150_SLLR. From buttons menu
select Inquiry and Balances menu.
11. Present Fixed Asset transactions
balances in breakdown specific to
transaction type.
12. Close Fixed Asset Balances and Value
models forms
13. Move back to newly created Fixed
Asset Documents Case press button
Value models.
14. Select Value model 150_SLLR
15. In tab General fill information in fields:
Acquisition date: 1/1/2013
Acquisition price: 165,000
Acquisition method: PURCHASE
Meaning of all fields on the General tab:
Acquisition date field, specify a date that will be used for the Acquisition proposal in the Fixed
asset journal and General journal. The default date will be the date when the fixed asset record is
entered in the Fixed assets form. Change the date, if it is necessary. When an acquisition is posted,
the acquisition date is updated with the date of the actual acquisition.
Acquisition price field, specify an amount that will be used for Acquisition proposal in the Fixed
Assets journal and General journal. Only fixed assets that are set up with an acquisition price are
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Microsoft Dynamics AX 2012 R2: Fixed Assets
available in the acquisition proposal. The acquisition price is updated every time that an acquisition
or an acquisition adjustment is posted for the fixed asset/value model.
In the Acquisition method field, select how the fixed asset is acquired. Acquisition methods define
the ways assets are obtained, such as through purchases or donations, and can be entered into the
Fixed asset value models form or the Asset depreciation book form.
In the Issue field group, the following applies:
o The Disposal date field shows the date when the fixed asset is sold or scrapped.
o The Sales value field shows the selling price of the fixed asset. The field is updated when
the fixed asset is sold.
o In the Replacement date field, enter the date planned to replace the fixed asset. The
default date is the acquisition date plus the service life.
In the Provisions field group, in the Type field, click the arrow to make a selection. This setup starts
the functionality of reserves for profit on assets.
16. Review the Depreciation tab. Majority
of data in fields has been defaulted from
definition of Fixed asset group (refer to
optional demo about setting up Fixed
asset module).
Explain the meaning of the fields on the Depreciation tab:
o In the Depreciation field, the check box is selected based on the Value model setup. The check box
can be cleared or selected manually. Clearing the check box is useful if the asset has not yet been
put in service and a company wants to guarantee that depreciation is not calculated.
o In the Depreciation run date field, the field displays the expected starting date for the first
depreciation calculation. This date defaults based on the placed–in-service date and selected
depreciation convention. No depreciation can be calculated and posted before the placed in
service date. Therefore, if the depreciation is set up to start before the placed in service date, the
first depreciation calculated after the placed in service date will also include the depreciation before
the placed in service date.
o In the Service life field, the remaining life of the asset is displayed in years.
o In the Expected scrap value field, enter the expected value below which Fixed Asset will not be
depreciated.
o Selected option Create depreciation adjustments with basis adjustments means that if there is
an acquisition adjustment posted after depreciation run, deprecation adjustments will be posted
also.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
o Depreciation convention determines depreciation run date and is based on predefined
conventions (setup in Value model definition). These are as follows: Half year, Full month, Mid
quarter, Mid-month (1st of month), Mid-month (15th of month) Half year (start of year), Half year
(next year).
Additional information
Purchase/Sale tab – Displays information
about the purchase or sale of the asset.
The fields here are system populated.
Vendor account – The vendor account
number is updated automatically when a
fixed asset is acquired by using Vendor
invoices.
Purchase order – The identification
number of the purchase order.
Invoice – The identification number of
the vendor invoice.
Customer account – The customer
account is updated automatically when a
fixed asset is disposed of externally by
using a free text invoice.
Invoice – Identification of the free text
invoice.
17. Open Financial Dimensions tab, and
then set Default financial dimension
BusinessUnit to 002 – Auto.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
The value models associated with the selected fixed asset, and also many of the fields of the value model,
are automatically populated based on the value models set up for the selected Fixed asset group. These
suggested value models can be used, or a user can select different value models:
If a company only records asset transactions for accounting purposes; one value model will typically
be sufficient.
If tax transactions are also recorded, an additional value model must be available; typically one that
uses the tax posting layer.
18. Click the Overview tab, and then
select second value model T_150_SLLR.
The reason for having second value model
is depreciation calculation for tax purpose.
On the General tab, notice that Posting
layer is set to Tax.
19. Enter the information in the following
fields:
Acquisition date: 1/1/2013
Acquisition price: 165,000
Acquisition method: PURCHASE
Click the Depreciation tab, and then
review the information and validate the
defaulted data (like in step 16).
20. Repeat step 17 and enter dimensions
for this Value model.
21. Close the Value model and Fixed
Asset forms.
End of Demo Scenario 1
DEMO 2: FIXED ASSET ACQUISITION
FIXED ASSETS ACQUSITION USING PROPOSAL IN THE FIXED ASSETS JOURNAL
Fixed asset acquisitions can be created by using the Proposals functionality in the Fixed Assets journal. To generate
a Proposal, fixed assets must be set up with the expected acquisition price already entered.
Before recording the acquisition, the fixed asset should be created (Ref Demo 1). To use Proposals to record the
acquisition of assets, perform the following steps.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
1. On the Navigation Pane, click Fixed
assets, click Journals, and then click Fixed
assets.
2. Click the New button to create a new
journal.
3. In the Name field, click the arrow to select
FACurr. Fixed Assets journal for posting in
current layer.
Note: This same proposal functionality is found in the
Depreciation book journal. To find the journal from the
Navigation Pane, click Fixed assets, click Journals, and
then click Depreciation book journal
4. Click the Lines button.
5. Click the Proposals button, and then click
Acquisition proposal.
6. Click the Select button.
7. In the Criteria column, for the Fixed asset
number, select the new asset Document
Case.
8. Click OK twice.
9. Note the line suggested with the item and
the price.
10. Click the Post button, and then click Post
in the asset journal.
11. On the Infolog form, click Close.
12. Close all the forms. Fixed Asset FUNR_FIX-
000010 has been acquired.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
13. Navigate to the Fixed Assets card, select
the newly acquired fixed asset FUNR_FIX-
000010, and then open Value Models.
14. Select Value model T_150_SLLR, and then
click Transactions. Unless Acquisition has
been posted in the journal for Value
model 150_SLLR Value model
T_150_SLLR derived acquisition
transaction form it.
15. Close the Transaction form.
16. On the 150_SLLR Value model, click View
details.
17. In open Value models setup form with
selected value model 150_SLLR, expand
the Derived Value models FastTab.
18. Present the setup of the derived
transactions by related value models to
the 150_SLLR.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
ACQUIRE FIXED ASSET FROM PURCHASING
You can present the following information about options to acquire fixed assets from the Accounts Payable
module.
As shown in the following screen shot, you can enable an option in Fixed Asset parameters that allows fixed assets
to be acquired from purchase orders.
Fixed assets can be acquired from the level of purchase order. An acquisition transaction is posted after a vendor
invoice is posted. After you select a purchase order/invoice option, you can create a fixed asset in the Line details
section of the Fixed Asset tab by selecting the New fixed asset? check box, as shown in the following screen
shot.
In following scenario, before recording the acquisition, the new fixed asset should be created (prepare for this
option executing Demo 1 and create a new fixed asset in the fixed asset group COMP).
To record an asset acquisition by using the Vendor Invoice journal, perform the following steps.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
19. On the Navigation Pane, click Accounts
payable, click Common, click Vendor
invoices, and then click Open vendor
invoices.
20. Click Invoice, and then click Vendor
Invoice. This initiates a new record for a
vendor invoice.
21. In the Invoice account box, click US-104.
22. Under Invoice Identification, in the
Number box, type INV-1001, and in the
Invoice Description box, type Purchase
of Computer Desk Fixed Asset.
23. Under Invoice Dates, in the Posting date
box, enter or select 1/15/2013.
24. Under Invoice Lines, click Add line.
25. In the Procurement category, under
Office Machines and Their Supplies and
Accessories, click Computers (New
category).
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Microsoft Dynamics AX 2012 R2: Fixed Assets
26. Under Quantity, enter 1.
27. Under Unit Price, center 4500 to
correspond with Acquisition price of Fixed
Asset.
28. In Line details, click the Fixed Asset.
29. In the Fixed asset number drop-down list
box, click the newly created fixed asset
computer (in this case, COMP-000007).
30. Click the Post button twice. After this, the
invoice has been posted and the fixed
asset has been acquired.
31. In Fixed Assets, in the Fixed Asset box,
click Computer, and open its Value
models. Click the General tab, and then
notice that the Acquisition date box and
the Acquisition price box are populated
with the values from the posted vendor
invoice.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
32. Click the Purchase/Sale tab, and then
notice that there is information regarding
the posted vendor invoice in the Vendor
account box and the Invoice box.
33. Close all forms.
RECORD ACQUISITIONS IN THE INVENTORY TO FIXED ASSETS JOURNAL
Another acquisition option available in Microsoft Dynamics AX is acquisition from inventory. The Inventory to
Fixed Assets journal is used to record acquisition of assets that are assembled by the company, usually by using
inventory items. This journal works like other inventory journals, with the addition of the following fields:
Fixed asset number
Value model
Transaction type
When the Inventory to Fixed Assets journal is posted, one or more inventory items are taken from inventory and
transformed into a fixed asset.
Note: To set up the Inventory to Fixed Assets journal, click Inventory and warehouse management > Setup >
Journals > Journal names, inventory. In the Journal type field, enter Fixed assets.
End of Demo Scenario 2
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Microsoft Dynamics AX 2012 R2: Fixed Assets
DEMO 3: FIXED ASSET DEPRECIATION
USING PROPOSALS IN THE FIXED ASSETS JOURNAL TO RECORD DEPRECIATION
To use Proposals in the Fixed Assets journal to
record the depreciation of assets, perform the
following steps.
1. On the Navigation Pane, click Fixed
assets, click Journals, and then click Fixed
assets.
2. Click the New button to create a new
journal.
3. Click the Lines button.
4. Click the Proposals button, and then click
Depreciation proposal.
5. In the To date field, enter the ending date
of the period for which you want to create
depreciation proposal lines; in this case,
enter 1/31/2013.
6. On the Asset Proposal and Depreciation
proposal forms, click OK.
Note: To summarize monthly depreciations into one journal line, on the Depreciation proposal form, you
can select the Summarize depreciation check box. For example, if the To date is December 31, 2013, and
there is no depreciation posted since July 1, 2013, the amounts for all depreciation from July through
December are summarized on one journal line, and the Date field on the proposed journal lines is then set
to December 31, 2013.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
7. Review the suggested entries of all Fixed
Assets depreciation proposal for the first
month of year 2013.
8. Click the Post button, and then click Post.
9. On the Infolog form, click Close.
10. Close all the forms.
Note: These steps for Depreciation posting
should be performed for each Value model and
for all posting layers. This is not recommended to
derive depreciation transactions from other Value
models.
Note: Posting from the Fixed Assets Journal results in posting transactions to General Ledger Accounts.
USING PROPOSALS IN THE DEPRECIATION BOOK JOURNAL TO RECORD
DEPRECIATION
To use proposals in the Depreciation book journal
to record the depreciation of assets, perform the
following steps.
1. On the Navigation Pane, click Fixed
assets, click Journals, and then click
Depreciation book journal.
2. Click the New button to create a new
journal.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
3. Click the Lines button.
4. Click the Proposals button, and then click
Depreciation proposal.
5. In the To date field, enter the ending date
of the period for which you want to create
depreciation proposal lines; in this case,
enter 12/31/2013.
6. Click Summarize depreciation.
7. Click the Select button to specify criteria.
In the Criteria column, in the row with
Fixed asset group in the Field column,
select BUILDINGS.
8. In the Criteria column, in the row with
Depreciation book in the Field column,
enter FED.
9. Click OK on the
AssetDepBookProposalDepreciation
and Depreciation proposal forms.
10. Review the suggested entry. Summarized
depreciation from1/31/2013 has been
calculated for each Fixed Asset from
filtering criteria.
11. Click the Post button, and then click Post.
12. On the Infolog form, click Close.
13. Close all the forms.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
Note: Proposals are used to record depreciation. In addition to registering depreciation manually by using the
Fixed assets journal or Depreciation book journal, proposals can also be created within these journals for
depreciation, consumption depreciation, extraordinary depreciation, and bonus depreciation (Depreciation book
journal only).
Depreciation proposals consider only fixed assets that are depreciable with the status of Open. Depreciation
proposals calculate depreciation for depreciation periods in which the depreciation has not yet posted.
Depreciations for assets that have not yet been acquired or for projected depreciations can be created by using
Proposals and specifying a Posting date in the future.
Using depreciation proposals is helpful for periodic financial statements because depreciations for multiple fixed
assets can be calculated and posted in a single operation.
End of Demo Scenario 3
DEMO 4: FIXED ASSETS DISPOSAL
When an asset is sold, a company has to adjust their balance sheet to reflect the sale. You can do this manually, or
you can set up a posting profile to automatically reverse the transactions. If a company selects to set up accounts
for automatic reversal, accounts can be set up separately for assets that are scrapped and those that are sold.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
REGISTER DISPOSAL SALES USING FREE TEXT INVOICE
To register the disposal of assets by sales using
the free text invoice, perform the following steps.
1. On the Navigation Pane, click Accounts
receivable, click Common, click Free text
invoices, and then click All Free text
invoices.
2. Click the Free text invoice button to
create a new invoice.
3. In the Customer account field, select the
customer US-003 to whom this asset is
being sold. Set Date to 12/31/2013, Sales
Tax group to NY, Item Sales Tax group
to ALL, Quantity to 1, and Amount to
2100.
4. In the Description field, enter a
description of Sales of Computer for the
asset or the disposal.
5. Click the Line details FastTab. On the
General tab, in the Fixed asset number
box, select COMP-000004.
Note: When recording a disposal, it is not required to indicate the ledger Main account number when the Fixed
Asset setup for disposal is completed in the Posting profile.
6. Click Post, and then click OK to post the
invoice.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
7. Check the status of Value models in Fixed
Asset COMP-00004. The status is Sold.
Note: As explained in Demo 2, step 16, due to
relation of derived Value models and Disposal
transaction, Status of the Value model
T_150_SLLR has also been set to Sold.
8. On the Purchase/Sale tab, under Sales
account, check the values in the Customer
account and Invoice fields.
9. On the Fixed asset balances form for the
selected fixed asset, review Inquiry \
Balances with summary of all transactions.
10. Close all forms.
Note: Disposal sales and disposal scrap can be posted using the Fixed Assets journal.
Disposal scrap is considered an internal transaction, only journals are used to post disposal scrap. Free text
invoicing cannot be used.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
PROVISION FOR RESERVE
After posting an asset disposal transaction, Microsoft Dynamics AX 2012 R2 determines whether the asset is set up
for provision functionality. If the asset is set up with provisional functionality, Microsoft Dynamics AX 2012 R2
verifies whether the requirement setup for the Provision type is met. This means the asset is owned by the
company at least as long as the length of ownership required.
If this requirement is met, the profit on the sale of this asset is posted on the account for Provision for
reserve according to the setup of the posting profile. Therefore, because of the checks performed by the
system, Provision for reserve is not to be posted manually. Refer to the Setup Procedures content for more
information.
Transfer from reserve is an asset transaction. This can be created by using the Proposals functionality. This process
is identical to the process described for using proposals for acquisitions, except that the proposal type is Revenue
recognition of reserves.
This transaction reverses the Provision for reserve transaction. Depending on the age of the reserve, the Account
field might have to be filled in manually. This is the case if the reserve can still be used against an acquisition of a
new asset. If the reserve is too old according to the setup of the Provision type, the account for revenue
recognition of reserves that are not transferred will be suggested by the system.
End of Demo Scenario 4
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Microsoft Dynamics AX 2012 R2: Fixed Assets
DEMO 5: FIXED ASSET REPORTS
Fixed assets transactions
To run this report, click Fixed assets > Reports > Transactions > Fixed asset transactions. Select the parameters
shown in the following screen shot.
As shown in the following screen shot, this report displays fixed assets transactions with a date, voucher number,
transaction types, and amounts. It also provides summary information about acquisition amount and the current
net book value of fixed assets.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
Fixed asset movement
To run this report, click Fixed assets > Reports > Transactions > Fixed asset movements. Select the parameters
shown in the following screen shot.
As shown in the following screen shot, this report displays a list of fixed assets movements on different transaction
types during the selected time period.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
Fixed asset balances
To run this report, click Fixed assets > Reports > Transactions > Periodic > Fixed asset balances. Select
the parameters shown in the following screen shot.
As shown in the following screen shot, the report displays fixed assets balances with amounts per each transaction
type.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
Fixed asset book compare
To run this report, click Fixed assets > Reports > Transactions > Periodic > Fixed asset book compare. Select
the parameters shown in the following screen shot.
As shown in the following screen shot, this report displays a comparison of selected depreciation books with Cost
basis, Year to date depreciation, accumulated depreciation, and net book value for each asset.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
End of Demo Scenario 5
OPTIONAL DEMO 6: FIXED ASSETS MODULE SETUP
Most of the basic setup steps in this section are
accessed by clicking Fixed assets, and then
clicking Setup. The sequence of setup steps used
in this section, although optional to follow, serves
as a practical suggestion for efficiency. The
following steps are standard:
1. Depreciation profiles
2. Fiscal calendar
3. Depreciation books
4. Value models
5. Fixed asset groups
6. Posting profiles
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Microsoft Dynamics AX 2012 R2: Fixed Assets
DEPRECIATION PROFILES
Depreciation profiles are used to define rules for calculating depreciation. Creating profiles is required for
depreciable assets. This usually refers to tangible assets, but intangible assets can also use depreciation profiles.
Financial assets, such as shares of stocks or bonds, are considered non-depreciable. Therefore, depreciation
profiles are not required for these assets. The following methods are available for depreciation calculation:
Straight line service life
Reducing balance
Manual
Factor
Consumption
Straight line life remaining
200% reducing balance
175% reducing balance
150% reducing balance
125% reducing balance
Note: The preceding list of depreciation methods does not include country-specific extensions.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
For various assets with their specific depreciation
requirements, a separate depreciation profile with
specific depreciation method can be created. For
the purpose of demonstration, there should be at
least two depreciation profiles created. To set up
a depreciation profile, perform the following
steps.
1. On the Navigation Pane, click Fixed
assets, click Setup, click Depreciation,
and then click Depreciation profiles.
2. Click the New button to create a new
depreciation profile.
3. In the Depreciation profile field, enter
text to uniquely identify the profile: 200%.
4. In the Name field, enter a name that
describes the profile: 200% reducing
balance.
5. In the Method field, select a depreciation
method: 200% reducing balance.
6. In the Depreciation year field, select:
Calendar.
7. In Period frequency field, select:
Monthly.
8. Repeat the preceding steps to create
another depreciation profiles for straight
line life remaining depreciation method
identified as SL_REMAIN and 150 percent
reducing balance identified as 150%.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
DEPRECIATION BOOKS
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Microsoft Dynamics AX 2012 R2: Fixed Assets
To set up a Depreciation book, perform the
following steps.
1. On the Navigation Pane, click Fixed
assets, click Setup, click Depreciation,
and then click Depreciation books.
2. Click the New button to create a new
depreciation book.
3. In the Depreciation book field, enter a
code to identify the depreciation book:
FED.
4. In the Description field, enter text that
describes the depreciation book: Federal
tax.
5. In the Depreciation field, select the check
box to calculate depreciation.
6. In the Depreciation profile field, select
the depreciation profile for this
depreciation book: 200%.
7. In the Alternative depreciation profile
field, select a depreciation profile, if it is
necessary. The alternative depreciation
profile is used when two depreciation
methods are combined (through statutory
regulations) and a company can post the
highest depreciation. For purpose of this
demo, select SL_REMAIN.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
8. In the Calendar field, select the calendar
for this depreciation book. The following
advantages are gained by linking the
Depreciation book to its own calendar:
Until the periods are closed for a specific
Depreciation book, the depreciation can
be rerun as many times as necessary. This
is useful if the wrong depreciation
convention is applied to the assets.
The existing depreciation amounts for the
period being rerun are deleted.
9. Select the Allow net book value higher
than the acquisition costs check box so
that the net book value for an asset can
exceed the acquisition costs for the asset.
10. Select the Create depreciation
adjustments with basis adjustments
check box to automatically generate
depreciation adjustments when the basis
of the asset is adjusted with another
adjustment type entry.
11. You can set up an additional Depreciation
book named STATE for a state tax
purpose, which can be based on only the
SL_REMAIN depreciation profile.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
VALUE MODELS
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.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
To set up a value model, perform the following
steps.
1. On the Navigation Pane, click Fixed
assets, click Setup, and then click Value
models.
2. Click the New button to add a new line.
3. In the Value model field, enter a name to
identify the value model: 150%_SLLR.
4. In the Description field, enter text that
gives more information about the value
model: 150% RB switch to SLLR.
5. Select the Depreciation check box if
assets with this value model are
depreciable.
6. In the Depreciation profile field, select a
Depreciation profile for the value model:
150%.
7. In the Alternative depreciation profile
field, select an alternative depreciation
profile for the value model. The alternative
depreciation profile is used when two
depreciation methods are combined
(through statutory regulations) and a
company can post the highest
depreciation. For the purpose of this
demo, select SL_REMAIN.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
8. In the Posting layer field, click the arrow
to select the posting level. For Fixed asset
transactions: Current.
9. Select the Create depreciation
adjustments with basis adjustments
check box to automatically generate
depreciation adjustments when the basis
of the asset is adjusted with another
adjustment type entry.
10. Repeat steps 2–10 for a similar setup of a
Value model identified as T_150_SLLR
being a combination of 150 percent and
SLLR depreciation profiles but with the
Posting layer set to Tax.
11. Return to the setup of the 150%_SLLR
Value model.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
14. Click the Derived value models FastTab.
15. In the Value model field, select the value
model T_150_SLLR to copy asset
transactions from one value model to a
different value model. This is useful when
an asset is set up with one value model for
accounting and a different one for tax
purposes.
16. In the Transaction type field, select a
Transaction type for the derived value
model for instance: Acquisition,
Acquisition adjustment, Disposal - sale,
or Disposal - scrap.
17. Click the Derived depreciation books
FastTab.
18. In the Depreciation book field, select
Depreciation books FED and STATE to
copy asset transactions from one
depreciation book to another depreciation
book. This is useful when an asset is set up
with one depreciation book for accounting
and a different one for tax purposes.
19. In the Transaction type field, click the
arrow to select a Transaction type for the
depreciation book for instance:
Acquisition, Acquisition adjustment,
Disposal - sale, or Disposal - scrap.
Note: It is not recommended to set the
derived transaction type for depreciation
because it is just a copy of the amount
and not a calculation.
20. Close the form.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
MAJOR TYPES
Several fields are available on the General
FastTab of the Fixed asset groups form that can
be used to better classify the asset, especially for
reporting. The Major type field requires some
setup.
To create a Major type, perform the following
steps.
1. Click Fixed assets, click Setup, and then
click Major types.
2. Click the New button to create a new
record.
3. Enter a unique identifier in the Major type
field: OFFICE.
4. In the Description field, enter a short
description for the Major type: Office
equipment.
FIXED ASSET GROUP
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.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
To set up a fixed asset group, perform the
following steps.
1. On the Navigation Pane, click Fixed
assets, click Setup, and then click Fixed
asset groups.
2. Click the New button to add a line.
3. In the Fixed asset group field, enter a
code to identify the fixed asset group:
FURN_FIX.
4. In the Name field, enter a name for the
Fixed asset group: Furniture and Fixtures.
5. In the Type field, click the arrow to select
a type to assign to the Fixed asset group.
The following choices are available:
Tangible
Intangible
Financial
Land and buildings
Goodwill
Other
For the purpose of the demo setup, click
Tangible.
6. In the Major type field, select a top-level
asset classification for reporting only;
select: OFFICE.
7. In the Autonumber Fixed assets field,
select the check box to indicate that
Microsoft Dynamics AX 2012 R2 creates
the numbers for the items.
8. In the Number sequence code field,
select the number sequence code to use
when assets are auto numbered.
9. In the Autonumber bar codes and Bar
code number sequence fields, make
selections for bar codes the same way as
for numbers.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
10. In the Property type field, select the type
for fixed assets with the group:
Fixed asset – Regular assets, to be
processed usually.
Continuing property – Property that
exists for inventory purposes only. For
example, telephones, radios, or mobile
devices that fall below the capitalization
threshold. Typically, enter a service life of
zero (0) for continuing property assets
from the valuation report that reconciles
with the general ledger.
Other – Intangible assets that must
display separately on the balance sheet.
This field is used only for reports or
searches.
11. In the Location field, select a location for
fixed assets within the group. The available
locations are set up in the Fixed asset
location form at Fixed assets > Setup >
Fixed assets locations.
12. In the GIS layer ID field, identify the
default Geographic Information System
(GIS) layer for fixed assets within the
group. A layer represents the type of data
being viewed, such as street or water. A
GIS database is a third-party application.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
13. In the Replacement cost factor field,
enter the percentage to increase or
decrease the replacement cost of the fixed
asset. For example, if it costs 3.5 percent
more this year to replace assets in this
group, enter 3.5. The factor entered is only
used if the replacement cost of a fixed
asset is updated by using the Update
replacement costs and insured values
form.
14. In the Insured value factor field, enter the
percentage to increase or decrease the
insured value of the fixed asset. For
example, enter 1.5 for 1.5 percent. The
factor entered is only used if the insured
value of a fixed asset is updated by using
the Update replacement costs and
insured values form.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
POSTING PROFILE
46
Microsoft Dynamics AX 2012 R2: Fixed Assets
1. On the Navigation Pane, click Fixed
assets, click Setup, and then click Fixed
asset posting profiles.
2. Click the New button to add a line.
3. In the Posting profile field, enter a brief
code to identify the Posting profile: ALL.
4. In the Description field, enter text to
better identify the Posting profile: FA
General Posting Profile.
5. The entries made on the right side of this
form work together with the option
button selected on the left side of the
form for the type of transaction. Therefore,
first select each option button, and then
click the Add button to make entries on
the Value model line.
6. In the Value model field, click the arrow
to select the value model. In the
Groupings field, for general demo
purposes, type ALL to indicate the setup is
used for all assets, unless defined in
another line.
7. In the Fixed asset number field, you may
select the number to assign to the line.
Leave it blank for demo purposes.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
8. In the Main account field, click the arrow
to select the account from the chart of
accounts to use for entries. The Main
account is typically an account in the
balance sheet: 180100 in USMF demo
data company setup.
9. In the Offset account field, select the
account to use as the offset. Typically, the
Offset account is a profit or loss account
because the second part of the transaction
being posted is income or expense:
300160 in USMF demo data company.
Note: There can be exceptions. When you enter transactions, Microsoft Dynamics AX 2012 R2 uses the
combination of the Type of transaction, Value model, Groupings, and Account number fields to determine the
accounts to use for the Main account and Offset account. By using the combination of these fields, Microsoft
Dynamics AX 2012 R2 can meet a company's requirement for financial reporting, whether it must be detailed or
summarized. Additional information on how to set up Posting profiles follows:
Ledger accounts must be set up for each value model that is used for posting. The same ledger accounts
can be used for several or even all value models.
The user can set up accounts as detailed as one account setup for each asset, and each value model for
each type of asset transaction.
Assets that belong to the same group are frequently posted to the same accounts, whereas the option to
set up accounts for each asset is rarely used.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
SETTING UP DISPOSAL
The setup is the same whether creating a
setup for Sale or Scrap. To set up the
requirements for disposal, perform the
following steps.
1. On the Navigation Pane, click Fixed
assets, click Setup, click Fixed asset
Posting profiles, click the Disposal
button, and then click Sale or scrap.
2. Click the New button to add a line.
3. In the Value model field, select the value
model for this line.
4. In the Valid for field, click the arrow to
select from the following options:
Table to indicate the setup is specific to a
particular asset.
Group to indicate the setup is used for a
Fixed asset group.
All to indicate the setup is used for all
assets, unless defined in another line.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
5. In the Fixed asset relation field, select the
asset to assign to the line. The lookup in
this column depends on the selection
made in the Valid for field as follows:
If Table is selected in the Valid for
field, the lookup displays all fixed
assets so that posting accounts can
be assigned for individual assets.
If Group is selected in the Valid
for field, the lookup shows all
Fixed asset groups so that
accounts can be assigned for Fixed
asset groups.
If All is selected in the Valid for
field, there is no lookup option
because the accounts are
automatically related to all assets
with this value model.
6. In the Post value field, select the type of
entry being reversed.
7. In the Main account field, select the
account from the chart of accounts to use
for entries. The Ledger account is typically
an account in the balance sheet.
8. In the Offset account field, select the
account to use as the offset. Typically, the
Offset account is a profit or loss account
because the second part of the transaction
being posted is either income or expense.
However, there can be exceptions.
9. Repeat these steps to define the possible
reversals for the same Value model, Valid
for, and Fixed asset relation
combination, then select a different Post
value and enter the appropriate Ledger
account and Offset account.
10. Close the form.
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Microsoft Dynamics AX 2012 R2: Fixed Assets
Note 1: The default value of the Sales value type column is All because the same ledger accounts are frequently
used for the disposal, whether the fixed asset was disposed of with a profit or loss. However, to set up ledger
accounts for the same value model and the same fixed asset differently for disposals with profit versus disposals
with loss, select Gain and Loss in the Sales value type field.
Note 2: To post asset disposals, the following setup is required:
For each Value model that is used in disposal of assets, define a Main account and Offset account to use
with the net book value transaction type in the Post value field.
For each Value model that is used in disposal of assets, define the Main account and Offset account to
use for Disposal - sale or Disposal - scrap (or both) in the Fixed asset Posting profiles form.
End of Optional Demo Scenario 6
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Microsoft Dynamics AX 2012 R2: Fixed Assets
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