Acquire Fixed Assets

For each fixed asset, you must set up a card containing information about the asset. You can set up buildings or production equipment as a main asset with a component list, and you can group them in various ways, such as by class, department, or location. A depreciation book must be set up and assigned to each fixed asset before you can acquire it.

When a fixed asset is set up and a depreciation book assigned, you must acquire the fixed asset. To acquire a fixed asset, you record its acquisition cost in the relevant G/L account, bank account, or vendor by posting an acquisition transaction from the Fixed Asset G/L Journal window. You can use the Assisted Fixed Asset Acquisition window to create and post the required general journal lines automatically.

The salvage value is the residual value of a fixed asset when it can no longer be used. You can post the salvage value at the same time as you post the acquisition cost. For more information, see How to: Depreciate or Amortize Fixed Assets.

Indexation is used to adjust values for general price-level changes. The Index Fixed Assets batch job can be used to calculate the acquisition costs at replacement costs.

To create a fixed asset and acquire it automatically

The following procedure describes how to create a fixed asset and then acquire it by using the Assisted Fixed Asset Acquisition window to create and post the required fixed asset G/L journal lines. You can also create and post the journal lines manually. For more information, see the "To post a fixed asset acquisition manually with the fixed asset G/L journal" section.

  1. Choose the Search for Page or Report icon, enter Fixed Assets, and then choose the related link.
  2. Choose the New action, and then fill in the fields on the General FastTab as necessary. Choose a field to read a short description of the field or link to more information.
  3. On the Depreciation Book FastTab, fill in the fields as necessary. This step assigns a depreciation book to the fixed asset.

  4. If you need to assign more than one depreciation book to the fixed asset, choose the Add More Depreciation Books action. For more information, see the "To assign a depreciation book to a fixed asset" section in How to: Set Up Fixed Asset Depreciation.

    When all fields required to acquire a fixed asset are filled in, the You are ready to acquire the fixed asset. Acquire notification appears at the top of the page.

  5. Choose the Acquire action in the notification.
  6. Follow the steps in the Assisted Fixed Asset Acquisition window to complete the automatic acquisition of the fixed asset.
NOTE

You can also post acquisition cost as credits. In that case, remember that the value in the Acquisition Cost Incl. VAT field must be with a minus sign to indicate a credit.

When you choose Finish, the Book Value field in the Fixed Asset Card window is filled, indicating that the fixed asset has been acquired at the specified acquisition cost.

To set up a component list for a main asset

You can group your fixed assets into main assets and their components. For example, you may have a production machine that consists of many parts that you want to group in this manner.

Both the main asset and all its components must be set up as individual fixed asset cards. After you have set up a component list, Dynamics NAV automatically fills in the Main Assets/Component and Components of Main Asset fields on the fixed asset cards.

  1. Choose the Search for Page or Report icon, enter Fixed Assets, and then choose the related link.
  2. Select the fixed asset that is the main asset, and then choose the Main Asset Components action.
  3. In the Main Asset Components window, choose the FA No. field, and then select the fixed asset that you want to add as a component of the main asset.
  4. Close the window.
  5. Repeat steps 3 and 4 for each component asset that you want to add.
  6. Choose the Search for Page or Report icon, enter Fixed Asset Setup, and then choose the related link.
  7. Select the Allow Posting to Main Assets check box.

To post a fixed asset acquisition manually with the fixed asset G/L journal

The following procedure describes how to acquire a fixed asset manually by creating and posting lines in the Fixed Asset G/L Journal window. You can also acquire a fixed asset automatically by using the Assisted Fixed Asset Acquisition window. For more information, see step 5 in the "To create a fixed asset and acquire it automatically" section.

NOTE

You can also post acquisition cost as credits. In that case, remember that the value in the Amount field must be with a minus sign to indicate a credit.

  1. Choose the Search for Page or Report icon, enter FA G/L Journals, and then choose the related link.
  2. In the Fixed Asset G/L Journal window, in the FA Posting Type field, select Acquisition Cost.
  3. Fill in the remaining fields as necessary.
  4. Choose the Post action.
TIP

If you fill in the Insurance No. field in the fixed asset G/L journal when you post an acquisition cost, then Dynamics NAV will also post the acquisition cost of the fixed asset to the insurance coverage ledger. For more information, see How to: Insure Fixed Assets.

To cancel an acquisition cost posting for one fixed asset

If you make an error when posting an acquisition cost, you can remove the entry with the Cancel FA Entries batch job and then post the correct acquisition entry. The erroneous entries are transferred to the FA Error Ledger Entries window.

For example, if you post an acquisition with the wrong date, you must correct it as soon as possible because the fixed asset posting date is used is many critical calculations.

IMPORTANT

You cannot use the Reverse Transactions function for fixed asset entries.

  1. Choose the Search for Page or Report icon, enter Cancel FA Entries, and then choose the related link.
  2. Fill in the fields as necessary. Choose a field to read a short description of the field or link to more information.
  3. Choose the OK button to run the batch job.
  4. When the incorrect entry or entries are canceled, proceed to post the correct acquisition cost.

To cancel ledger entries for multiple fixed assets at a time, use the Cancel FA Ledger Entries batch job.

To post the salvage value together with the acquisition cost

You can post the salvage value together with the acquisition cost from a fixed asset G/L journal.

  1. Choose the Search for Page or Report icon, enter Cancel FA Entries, and then choose the related link.
  2. Create the acquisition journal line. For more information, see the "To post a fixed asset acquisition manually with the fixed asset G/L journal" section.
  3. In the Salvage Value field on the journal line, enter the salvage value amount as a credit (with a minus sign).
  4. Choose the Post action.
NOTE

The Salvage Value posting type is an option in the Fixed Asset Journal window only. It is not available in the Fixed Asset G/L Journal window because salvage value is never posted to the general ledger.

See Also

Fixed Assets
Setting Up Fixed Assets
Finance
Welcome to Microsoft Dynamics NAV
Working with Dynamics NAV


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