Microsoft Dynamics GP Fixed Assets
Course 8511: One days; Instructor-Led
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Introduction
The one-day Microsoft Dynamics GP Fixed Assets course delves into
the accounting cycle and the processes required to enter,
depreciate, and retire fixed assets. This course shows you how to
perform additional functions such as changing asset information,
mass changes, partial transfers, partial retirements, and retirement
undo.
A thorough understanding of these topics allows you to keep
accurate records and learn to use comprehensive reporting features
to present data in different ways. This course also teaches you how
to define default values that automatically populate data fields and
gather the information you need to make better business decisions by
exploring powerful inquiry and lookup functions.
Audience
Customers wanting to learn the basic features and to develop a
working knowledge of the typical day-to-day procedures required to
effectively use Fixed Assets.
The class is targeted toward data entry clerks, administrators;
office managers, CEOs, and consultants who need to understand the
technical aspects of Fixed Assets and gain foundational knowledge of
the application functionality.
At Course Completion
After completing this course, students should be able to:
| • |
Perform all Fixed Assets related data
entry functions including creating asset records |
| • |
Maintain asset records using transfers,
changes, and retirements |
| • |
Print detailed reports to verify data
and financial analysis for audit trail purposes such as
posting journals, depreciation registers, financial details
and other asset reports |
| • |
Identify the impact of the Fixed Assets
module on other Microsoft Dynamics GP modules |
| • |
Troubleshoot and correct input errors
including an incorrect posting period and how to delete
records |
Prerequisites
Before attending students should have:
| • |
General knowledge of Microsoft Windows |
| • |
Basic knowledge of accounting
principles |
Microsoft Certified Professional Exams
No Microsoft Certified Professional exams are associated with
this course currently.
Course Materials
The student materials include a comprehensive workbook and other
items necessary for this class.
Course Outline
Chapter 1: Introduction
This chapter gives students a general overview of the features
and benefits of using the Fixed Assets module in an integrated
environment. It also focuses on how this module integrates with
other modules in the Microsoft Dynamics GP application.
Main Topics
| • |
What is a Fixed Asset? |
| • |
Fixed Assets Features and Benefits |
| • |
Fixed Assets Overview and Roadmap |
| • |
Integration |
After completing this chapter, students should be able to:
| • |
Identify the features and benefits
available when using Fixed Assets |
| • |
Discuss integration that takes place
between Fixed Assets and other modules within the Microsoft
Dynamics GP system |
| • |
Identify the navigation used to access
the windows for transactions, reports, utilities, routines,
and inquiries in Fixed Assets |
Chapter 2: Setup Procedures
This chapter focuses on the setup procedures for the Fixed Assets
module. You examine in detail the options available to customize
this module to reflect the way your organization does business. You
set up assets so you can track the information that is crucial in a
company. Time is spent discussing how to use asset classes and asset
books to organize and ease data entry. The last step is to enter
Beginning Balances for each asset when first implementing the Fixed
Assets module. Once your Fixed Assets set up has been defined, there
are many reports available to document the selected preferences.
Main Topics
| • |
Fixed Assets Setup Checklist |
| • |
Company and Financial Setup Procedures |
| • |
Build Fixed Assets Fiscal Calendar File |
| • |
Enter Quarter Records and Synchronize
to Fiscal Years |
| • |
Purchasing Interface Options |
| • |
Account Groups |
| • |
Post Accounts |
| • |
Insurance Class Records |
| • |
Class Records |
| • |
Book Records |
| • |
Book Class Records |
| • |
Fixed Assets Setup |
| • |
Lease Company Records |
| • |
Location Records |
| • |
Physical Location Records |
| • |
Retirement Setup Records |
| • |
Structure Records |
| • |
Fixed Assets User Preferences |
| • |
Fixed Assets Setup Reports |
| • |
Entering Existing Assets |
Labs
| • |
Create a New Account Group |
| • |
Verify and Explain the Trigger Account
for Payables Management |
| • |
Add a New Class |
| • |
Add a New Book |
| • |
Add book-Class Records for the Existing
Books and Classes |
| • |
Modify and Verify the Company Setup for
Fixed Assets |
After completing this chapter, students should be able to:
| • |
Customize settings for the Fixed Assets
module |
| • |
Create Asset Classes and assign assets
appropriately |
| • |
Create Asset Records |
| • |
Enter beginning balances for each
existing asset |
Chapter 3: Daily Procedures
This chapter defines the ways that assets can be added in Fixed
Assets. We explore the Payables Management and Purchase Order
Processing interface as well as 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.
Main Topics
| • |
Fixed Assets Daily Procedures Checklist |
| • |
Asset General Information |
| • |
Asset Account Information |
| • |
Asset Book Information |
| • |
Asset Book ITC Information |
| • |
Asset Insurance Records |
| • |
Asset Lease Information |
| • |
Asset User Data |
| • |
Payables Management Interface |
| • |
Purchase Order Processing Interface |
| • |
Purchasing Transactions Integration
Issues |
| • |
Fixed Assets Inventory Reports |
Labs
| • |
Manually Add the New Asset in Fixed
Assets |
| • |
Verify the Posting Accounts for a New
Asset |
| • |
Manually Add the New Asset to an
Existing Book |
| • |
Add the ITC Cost Information for the
Asset in the Federal Book |
| • |
Enter invoice in Payables Management to
"Trigger" the Addition of an Asset in Fixed Assets |
| • |
Create Purchase Order for Asset |
| • |
Receive the Item into Inventory |
| • |
Set Up Assets in Fixed Assets |
After completing this chapter, students should be able to:
| • |
Add assets in Fixed Assets using
various methods |
| • |
Create book and class records in Fixed
Assets and assign appropriate characteristics to an asset |
| • |
Understand the interface from Payables
and purchase Order to Fixed Assets |
Chapter 4: Maintaining Records
This chapter examines the functionality available to maintain
your Fixed Assets records. The process to perform depreciation
projections, asset transfers, and asset retirements is covered in
detail in this section. You look at the utilities that are used to
ensure the integrity of your data such as file maintenance,
reconcile, and deleting assets. Retrieving information is also a big
focus of this chapter. Time is also spent discussing the inquiry
windows and reports that can be generated from the Fixed Assets
module.
Main Topics
| • |
Select Assets |
| • |
Depreciation Projections for a single
asset or group of assets |
| • |
Changing Asset Information |
| • |
Changing Asset Book Information |
| • |
Mass Change |
| • |
Transferring Assets |
| • |
Mass Transfer |
| • |
Retiring Assets |
| • |
Mass Retirement |
| • |
Retire Undo |
| • |
File Maintenance |
| • |
Deleting Assets |
| • |
Reconcile |
| • |
Retrieve Information |
| • |
Fixed Assets Projection, Transaction,
and Utility Reports |
Labs
| • |
Create a New Asset Group |
| • |
Project Depreciation for Group of
Assets |
| • |
Perform Inquiry and Print Projection
Reports |
| • |
List Choices Available When Changing a
Depreciation Sensitive Field for an Asset |
| • |
Apply Change to all Assets in a
Specific Class |
| • |
Transfer Assets from one Location to
Another |
| • |
Retire an Asset |
| • |
Verify Quantities after Retirement |
| • |
Undo the Retirement an Asset |
| • |
Verify Quantities after undo Complete |
After completing this chapter, students should be able to:
| • |
Select a group of assets |
| • |
Perform depreciation projections for
assets Change asset information |
| • |
Transfer or retire assets |
| • |
Inquire and report on asset
transactions |
Chapter 5: Period-End Procedures
This chapter examines the processes that are completed at the end
of the month, period, calendar, and fiscal year. This chapter
focuses on the errors that may cause Fixed Assets to be out of
balance with the General Ledger.
You look at the reports and that should be printed prior to
performing the closing process. Time is spent examining what
actually takes place during the closing process and the two types of
closings: calendar year and fiscal year.
Main Topics
| • |
Fixed Assets Period-end Checklist |
| • |
Calculate Depreciation |
| • |
General Ledger Posting |
| • |
Reconcile Fixed Assets to General
Ledger |
| • |
Purge Purchasing Transactions |
| • |
Fixed Assets Year End Checklist |
| • |
Year-End Reports and Routine |
| • |
Rebuild Fixed Assets Fiscal Year
Calendar File |
| • |
Purge Inactive Asset Records |
| • |
Fixed Assets Period-end & Year-end
Reports |
Labs
| • |
Run Month-end Depreciation for All
Assets |
| • |
Post Month-end Fixed Assets
Transactions to General Ledger |
After completing this chapter, students should be able to:
| • |
Complete the processes that are
performed at the end of an accounting period |
| • |
Complete the processes that performed
at the end of a calendar or fiscal year |
| • |
Perform the Year-end closing process |
Appendix A: SmartList
This appendix discusses the use of SmartList to access financial
data. There are also optional exercises that can be completed by
students if time permits.
Main Topics
| • |
Using SmartLists |
| • |
Creating Objects |
| • |
Using the Search Button |
| • |
Saving New Objects as Favorites |
Labs
| • |
Create a Sorting Option for the Default
Fixed Assets Object |
| • |
Modify an existing Fixed Assets Books
Inquiry |
| • |
Save Queries as Favorites |
| • |
Create a Fixed Assets Purchase Inquiry |
| • |
Export Data to Microsoft Excel |
After completing this appendix, students should be able to:
| • |
Use SmartLists to access valuable
financial data |
| • |
Create new SmartList objects |
| • |
Use the Search button to manage the
information in a view |
| • |
Explain the various options that are
available when using SmartLists |
Appendix G: Case Study
This case study is a comprehensive lab used to reinforce the
learning that has occurred throughout the Fixed Assets class.
Main Topics
| • |
Close the year |
| • |
Enter the Payables Invoice |
| • |
Add Assets |
| • |
Create an Asset Group |
| • |
Transfer assets to a new GL Account |
| • |
Depreciate your assets and post to
General Ledger |
| • |
Create a SmartList query |
| • |
Export data to Microsoft Excel |
After completing this chapter, students should be able to:
| • |
Understand the necessary processes to
set up and manage their Fixed Assets module |
| • |
Have more confidence in their ability
to use Fixed Assets in their company |
