Set Up General Ledger FA

Before you can manage fixed assets, you must set up default G/L accounts, allocation keys, journal templates and batches for fixed asset posting and reclassification, and you can classify fixed assets in classes, such as Tangible and Intangible.

To set up general default values for fixed assets

You define the general behavior or the fixed asset functionality and set up document number series in the in the Fixed Assets Setup window.

Choose the icon, enter Fixed Assets Setup, and then choose the related link.
Fill in the fields as necessary. Choose a field to read a short description of the field or link to more information.

To set up fixed asset posting groups

You use posting groups to define groups of fixed assets. Entries for these posting groups are posted to the same general ledger accounts.

Choose the icon, enter FA Posting Groups, and then choose the related link.
Choose the New action.
In the FA Posting Group Card window, fill in the fields as necessary.

NOTE
To make sure that balancing accounts for different fixed assets postings are automatically inserted when you choose the Insert FA Bal. Account action on journal lines, follow the next step, based on appreciation posting.
On the Balancing Account FastTab, in the Appreciation Bal. Account field, select the general ledger account to which you want to post balancing entries for appreciation.

For more information about using the Insert FA Bal. Account action on fixed asset G/L journal lines, see, for example, How to: Revalue Fixed Assets.

To set up fixed asset allocation keys

Transactions can be allocated to various departments or projects, according to user-defined allocation keys. For example, you could set up an allocation key to allocate depreciation costs on cars with 35 percent to the administration department and 65 percent to the sales department. For more information, see How to: Allocate Costs and Income.

Allocation keys apply to fixed asset classes, not to individual assets.

Choose the icon, enter FA Posting Groups, and then choose the related link.
In the FA Posting Groups window, choose the Allocations action, and then choose a posting type.
In the FA Allocations window, fill in the fields as necessary.
Repeat steps 2 and 3 for each posting type that you want to define allocation keys for.

To set up fixed asset journal templates

A template is a predefined layout for a journal. The template contains information about trace codes, reports, and number series. For more information, see Working with General Journals.

Dynamics NAV automatically creates a fixed asset journal template the first time that you open the Fixed Asset Journal window, but you can set up additional journal templates.

Choose the icon, enter FA Journal Templates, and then choose the related link.
Fill in the fields as necessary.

To set up fixed asset journal batches

You can set up multiple journal batches, which are individual journals for each journal template. For example, employees can have their own journal batch that uses the employee’s initials as the journal batch name. For more information, see Work with General Journals.

Choose the icon, enter FA Journal Templates, and then choose the related link.
Select the relevant journal template, and then choose the Batches action.
In the FA Journal Batches window, fill in the fields as necessary.

To set up fixed asset reclassification journal templates

You use dedicated reclassification journals when you need to transfer, split, or combine fixed assets. Dynamics NAV automatically creates a fixed asset reclassification journal template the first time that you open the FA Reclass. Journal window, but you can set up additional reclassification journal templates. For more information, see Work with General Journals.

Choose the icon, enter FA Reclass. Journal Templates, and then choose the related link.
Fill in the fields as necessary.

To set up fixed asset reclassification journal batches

You can set up multiple journal batches, which are individual journals for each reclassification journal template. For example, employees can have their own reclassification journal batch that uses the employee’s initials as the reclassification journal batch name. For more information, see Work with General Journals.

Choose the icon, enter FA Reclass. Journal Templates, and then choose the related link.
Select the relevant journal template, and then choose the Batches action.
In the FA Reclass. Journal Batches window, fill in the fields as necessary.

To set up fixed asset class codes

Fixed asset class codes can be used to group fixed assets, for example, in tangible and intangible assets.

Choose the icon, enter FA Classes, and then choose the related link.
Enter codes and names for the classes that you want to create.

To set up fixed asset subclass codes

You use fixed asset subclass codes to group your fixed assets into categories, such as buildings, vehicles, furniture, or machinery.

Choose the icon, enter FA Subclasses, and then choose the related link.
Enter codes and names for the classes that you want to create.

To set up fixed asset location codes

You use fixed asset location codes to register the location of the fixed asset, such as sales department, reception, administration, production, or warehouse. This information is useful for insurance and inventory purposes.

Choose the icon, enter FA locations, and then choose the related link.
Enter codes and names for the fixed asset locations that you want to create.

To register opening entries

If you are using the fixed assets in Dynamics NAV for the first time, you must set up the general ledger application area before you set up fixed assets. How you do this depends on whether fixed assets is integrated with general ledger.

The following procedure is used if fixed asset transactions are to be posted to the general ledger.

Make sure that you have completed the basic setup procedures for fixed assets.
Create a fixed asset card for each existing asset.
Set up fixed asset depreciation books.
Enable general ledger integration by following the next steps.
Choose the icon, enter Depreciation Books, and then choose the related link.
Select the relevant depreciation book. On the Home tab, in the Manage group, choose Edit to open the Depreciation Book Card window.
On the Integration FastTab, make sure all fields are blank by clearing all check marks. If you have more than one depreciation book, turn on general ledger integration for each one.
In the fixd asset journal, enter the following lines for each asset:
- A line with the acquisition cost.
- A line with the accumulated depreciation to the end of the previous fiscal year.
- A line with the accumulated depreciation from the start of the current fiscal year to the date that Dynamics NAV is set to start calculating the depreciation.

If you have other opening balances you can also enter them now, such as write-down and appreciation.

If the fixed assets are not integrated with the general ledger, skip steps 4 through 7.