Fixed Assets in Microsoft Dynamics GP

Course Description:

  The Fixed Assets in Microsoft Dynamics GP - 80576 course is a 1-day course that is designed for students who are interested in learning Microsoft Dynamics GP 2018. The course covers the new features in Dynamics GP 2018 and also the important capabilities of Dynamics GP in general.

Students will learn about the processes required to enter, depreciate, and retire fixed assets. Students will also learn how to perform functions like changing asset information, mass changes, partial transfers and partial retirements.

Topics covered in the course include:

• Creating asset records
• Creating asset books
• Creating asset classes
• Creating asset book classes.
• Maintaining asset records using transfers, changes, and retirements.
• Depreciating assets and post depreciation from Fixed Assets to General Ledger.
• Understanding the possible integration points Fixed Assets has with other Microsoft Dynamics GP modules.
• Identifying available utilities that are used to manage asset records.

Target Student: This course is designed for students who want to learn the basic features and the typical day-to-day procedures required to effectively use Microsoft Dynamics GP Fixed Assets. Students will typically work in the one of the follwoing roles: data entry clerks, administrators, office managers, CEOs, and consultants that need understanding of the technical aspects of Fixed Assets and want to gain foundational knowledge of Dynamics GP functionality.

Students should be familiar with Microsfot Windows, general accounting principles, and have taken the Introduction to Microsoft Dynamics GP course or have equivalent experience in Dynamics GP.

Section 1: Overview and Setup Procedures
This section provides an overview of the features and benefits of using Fixed Assets in Microsoft Dynamics GP 2013 in an integrated environment. The section also covers the options available to customize this section to reflect the way your organization does business. Students learn how to set up assets to track depreciation information for a company. You will discuss how to use asset classes and asset books, to organize asset data.
Topics :
•Features and Benefits
•Fixed Assets Processes and Integration
•Configure the Fixed Assets Calendar
Entering Account Groups
Entering Fixed Assets Post Accounts
Creating Insurance and Asset Class Records
Creating Book Records
Creating Book Class Records
•Fixed Assets Company Setup
Creating Location and Physical Location Records
Creating Lease, Retirement and Structure Records
•Fixed Assets User Preferences
Entering Existing Assets
Lab 1: Account Group Setup
Lab 2: Purchasing Posting Accounts Setup
Lab 3: Class Setup
Lab 4: Book Setup
Lab 5: Book Class Setup
Lab 6: Fixed Assets Company Setup

Section 2: Daily Procedures
This section describes the ways that assets can be added in Fixed Assets. The section covers the Payables Management and Purchase Order Processing interface and how to import new asset additions using the Asset Import/Export window. The major focus of this chapter is the interface from Payables and Purchase Order to Fixed Assets.
Topics :
•Asset General Information
•Asset Account Information
•Asset Book Information
•Asset Insurance and Lease Records
•Asset User Data
•Payables Management Interface
•Purchase Order Processing Interface
Lab 1: Asset General Information
Lab 2: Asset Book Information
Lab 3: Asset Book ITC Information
Lab 4: Payables Management Interface
Entering the Invoice in Payables Management
•Add the Paper Shredder to Fixed Assets
Lab 1: Enter a Purchase Order for a Capital Item
Lab 2: Receive the Capital Item
Lab 3: Enter a Capital Item in Fixed Assets

Section 3: Maintaining Records
This section covers the functionality available to maintain Fixed Assets records. The process to perform depreciation projections, asset transfers, and asset retirements is discussed in detail. The utilities that ensure the integrity of data such as file maintenance, reconcile, and deleting assets are examined. It also discusses the Inquiry windows and reports that can be generated from the Fixed Assets section.
Topics :
•Select Assets
•Depreciation Projections
•Changing Asset Information
•Transferring Assets
•Retire Assets
•Retire Undo
•Asset Utilities
•Using Inquiries
•Report Options and Printing
•Report List
Lab 1: Select Assets
Lab 2: Depreciation Projection
Lab 3: Mass Change
Lab 4: Transfer an Asset
Lab 5: Partial Retirement
Lab 6: Retire Undo

Section 4: Period-End Procedures
This section covers the processes that are completed at the end of the month, period, calendar, and fiscal year. The section also elaborates on issues that may cause Fixed Assets to be out of balance with the General Ledger. It also discusses the reports that should be printed prior to performing the closing process.
Topics :
•Period-End Procedures
•Year-End Procedures
Lab 1: Depreciation
Lab 2: Fixed Assets to General Ledger Posting

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