Microsoft Dynamics GP Fixed Assets
Course 8511: One day;
Instructor-Led
Course Fee:
$499.00
Course Time: 1 day, 9:30 am - 4:30 pm, or 2 evenings, 6pm - 9pm
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 Certification exams
No Microsoft Certification 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?
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| • |
Fixed Assets Features and Benefits
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Fixed Assets Overview and Roadmap
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| • |
Integration
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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
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| • |
Company and Financial Setup Procedures
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| • |
Build Fixed Assets Fiscal Calendar File
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| • |
Enter Quarter Records and Synchronize to
Fiscal Years
|
| • |
Purchasing Interface Options
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| • |
Account Groups
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| • |
Post Accounts
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| • |
Insurance Class Records
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| • |
Class Records
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| • |
Book Records
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| • |
Book Class Records
|
| • |
Fixed Assets Setup
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| • |
Lease Company Records
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| • |
Location Records
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| • |
Physical Location Records
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| • |
Retirement Setup Records
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| • |
Structure Records
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| • |
Fixed Assets User Preferences
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| • |
Fixed Assets Setup Reports
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| • |
Entering Existing Assets
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Labs
| • |
Create a New Account Group
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Verify and Explain the Trigger Account for
Payables Management
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Add a New Class
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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
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| • |
Asset General Information
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| • |
Asset Account Information
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| • |
Asset Book Information
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| • |
Asset Book ITC Information
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| • |
Asset Insurance Records
|
| • |
Asset Lease Information
|
| • |
Asset User Data
|
| • |
Payables Management Interface
|
| • |
Purchase Order Processing Interface
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| • |
Purchasing Transactions Integration Issues
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| • |
Fixed Assets Inventory Reports
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Labs
| • |
Manually Add the New Asset in Fixed Assets
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| • |
Verify the Posting Accounts for a New Asset
|
| • |
Manually Add the New Asset to an Existing
Book
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Add the ITC Cost Information for the Asset in
the Federal Book
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| • |
Enter invoice in Payables Management to
"Trigger" the Addition of an Asset in Fixed
Assets
|
| • |
Create Purchase Order for Asset
|
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Receive the Item into Inventory
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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
|
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Transferring Assets
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Mass Transfer
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Retiring Assets
|
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Mass Retirement
|
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Retire Undo
|
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File Maintenance
|
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Deleting Assets
|
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Reconcile
|
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Retrieve Information
|
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Fixed Assets Projection, Transaction, and
Utility Reports
|
Labs
| • |
Create a New Asset Group
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Project Depreciation for Group of Assets
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Perform Inquiry and Print Projection Reports
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List Choices Available When Changing a
Depreciation Sensitive Field for an Asset
|
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Apply Change to all Assets in a Specific
Class
|
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Transfer Assets from one Location to Another
|
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Retire an Asset
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Verify Quantities after Retirement
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Undo the Retirement an Asset
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Verify Quantities after undo Complete
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After completing this chapter, students should be
able to:
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Select a group of assets
|
| • |
Perform depreciation projections for assets
Change asset information
|
| • |
Transfer or retire assets
|
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Inquire and report on asset transactions
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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
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| • |
General Ledger Posting
|
| • |
Reconcile Fixed Assets to General Ledger
|
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Purge Purchasing Transactions
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Fixed Assets Year End Checklist
|
| • |
Year-End Reports and Routine
|
| • |
Rebuild Fixed Assets Fiscal Year Calendar
File
|
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Purge Inactive Asset Records
|
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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
|
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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
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| • |
Using the Search Button
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Saving New Objects as Favorites
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Labs
| • |
Create a Sorting Option for the Default Fixed
Assets Object
|
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Modify an existing Fixed Assets Books Inquiry
|
| • |
Save Queries as Favorites
|
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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
|
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Add Assets
|
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Create an Asset Group
|
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Transfer assets to a new GL Account
|
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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
|
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