Reclassify Fixed Assets

You use the fixed asset reclassification journal to transfer, split up, and combine fixed assets. You view or print the results of fixed asset reclassification with the Fixed Asset-Book Value 02 report.

To transfer a fixed asset to a different department

You may need to transfer a fixed asset to a different department when, for example, you place an asset in the production department while it is under construction and then move it to the administration department when it is finished.

  1. Set up a new fixed asset. Enter the new department in the Department Code field.
  2. Assign a fixed asset depreciation book to the new fixed asset. For more information, see How to: Acquire Fixed Assets.
  3. Choose the Search for Page or Report icon, enter FA Reclass. Journals, and then choose the related link.
  4. Create a reclassification journal where the FA No. field contains the original fixed asset, and the New FA No. field contains the new fixed asset to be moved.

  5. Choose the Reclassify action.

    Two lines are now created in the fixed asset G/L journal using the template and batch that you have specified in the FA Journal Setup window for the specified depreciation book. For more information, see How to: Set Up Fixed Asset Depreciation.

  6. Choose the Search for Page or Report icon, enter FA G/L Journals, and then choose the related link.
  7. In the Fixed Asset G/L Journal window, choose the Post action to post the reclassification that you performed in steps 4 and 5.

If you have posted an acquisition cost for one asset, you can use the fixed asset reclassification journal to split the acquisition cost among several assets.

To split a fixed asset into three fixed assets

You can split one fixed asset into multiple fixed assets, for example when you need to distribute a fixed asset onto three different departments. In that case, you can move, for example, 25 percent of the acquisition cost and depreciation for the original fixed asset to the second fixed asset and 45 percent to the third asset. The remaining 30 percent will remain on the original fixed asset.

  1. Set up two new fixed assets. Enter the new department in the Department Code field.
  2. Assign fixed asset depreciation books to the new fixed assets. For more information, see How to: Acquire Fixed Assets.
  3. Choose the Search for Page or Report icon, enter FA Reclass. Journals, and then choose the related link.
  4. Create two reclassification journal lines, one for each new fixed asset.
  5. On the first line, enter the second fixed asset in the New FA No. field and 25 in the Reclassify Acq. Cost % field.
  6. On the second line, enter the third fixed asset in the New FA No. field and 40 in the Reclassify Acq. Cost % field.
  7. On both lines, select the Reclassify Acquisition Cost and Reclassify Depreciation check boxes.

  8. Choose the Reclassify action.

    Two lines are now created in the fixed asset G/L journal using the template and batch that you have specified in the FA Journal Setup window for the specified depreciation book. For more information, see How to: Set Up Fixed Asset Depreciation.

  9. Choose the Search for Page or Report icon, enter FA G/L Journals, and then choose the related link.
  10. In the Fixed Asset G/L Journal window, choose the Post action to post the reclassification that you performed in steps 4 through 8.

To combine two fixed assets into one

You can combine multiple fixed assets into one fixed asset, for example when you move distributed fixed assets into one department. If you have posted acquisition costs and depreciation for the fixed asset to be moved, those values will be combined in the single fixed asset.

  1. Choose the Search for Page or Report icon, enter FA Reclass. Journals, and then choose the related link.
  2. Create a reclassification journal where the FA No. field contains the fixed asset to be moved/combined, and the New FA No. field contains the fixed asset that it will be combined with.
  3. Leave the Reclassify Acq. Cost % field empty to move/combine the entire acquisition cost.
  4. Select the Reclassify Acquisition Cost and Reclassify Depreciation check boxes.

  5. On the Actions tab, choose Reclassify.

    Two lines are now created in the fixed asset G/L journal using the template and batch that you have specified in the FA Journal Setup window for the specified depreciation book. For more information, see How to: Set Up Fixed Asset Depreciation.

  6. Choose the Search for Page or Report icon, enter FA G/L Journals, and then choose the related link.
  7. In the Fixed Asset G/L Journal window, choose the Post action to post the reclassification that you performed in steps 2 through 5.

To view changed depreciation book values due to fixed asset reclassification

  1. Choose the Search for Page or Report icon, enter FA Book Value 02, and then choose the related link.
  2. Fill in the fields as necessary.
  3. Choose the Print or Preview button.

See Also

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


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