Fixed Assets I in Microsoft Dynamics GP 10.0
Course 8691: 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 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
companies to keep accurate records and learn to use
comprehensive reporting features to present data in
different ways. This course also teaches 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
applications functionality.
At Course Completion
Course completion objectives are:
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Perform all Fixed Assets related data entry
functions including creating asset records
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Maintain asset records using transfers,
changes, and retirements
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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
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Identify the impact of the Fixed Assets
module on other Microsoft Dynamics GP modules
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Troubleshoot and correct input errors
including an incorrect posting period and how to
delete records
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Prerequisites
Before attending this course, students must have:
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General knowledge of Microsoft Windows
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Basic knowledge of accounting principles
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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: Overview and Setup Procedures
This chapter provides a general overview of the
features and benefits of using the Fixed Assets module
in an integrated environment. It also examines in detail
the options available to customize this module to
reflect the way your organization does business. You set
up assets to track crucial information 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 entering Beginning Balances for each asset when
first implementing the Fixed Assets module. Once the
Fixed Assets set up has been defined, there are many
reports available to document the selected preferences.
Main Topics
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What is a Fixed Asset?
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Fixed Assets Features and Benefits
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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
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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
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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
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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
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Add book-Class Records for the Existing Books
and Classes
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Modify and Verify the Company Setup for Fixed
Assets
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The goals for completing this chapter are for
students to:
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Customize settings for the Fixed Assets
module
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Create Asset Classes and assign assets
appropriately
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Create Asset Records
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Enter beginning balances for each existing
asset
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Chapter 2: Daily Procedures
This chapter defines the ways that assets can be
added in Fixed Assets. It explores the Payables
Management and Purchase Order Processing interface and
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
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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
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Asset Lease Information
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Asset User Data
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Payables Management Interface
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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
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Manually Add the New Asset in Fixed Assets
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Verify the Posting Accounts for a New Asset
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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
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Create Purchase Order for Asset
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Receive the Item into Inventory
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Set Up Assets in Fixed Assets
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The goals for completing this chapter are for
students to:
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Add assets in Fixed Assets using various
methods
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Create book and class records in Fixed Assets
and assign appropriate characteristics to an
asset
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Understand the interface from Payables and
purchase Order to Fixed Assets
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Chapter 3: Maintaining Records
This chapter examines the functionality available to
maintain Fixed Assets records. The process to perform
depreciation projections, asset transfers, and asset
retirements is covered in detail. The utilities that
ensure the integrity of data such as file maintenance,
reconcile, and deleting assets are examined. Retrieving
information is also a big focus of this chapter. Time is
spent discussing the inquiry windows and reports that
can be generated from the Fixed Assets module.
Main Topics
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Select Assets
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Depreciation Projections for a single asset
or group of assets
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Changing Asset Information
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Changing Asset Book Information
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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
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Labs
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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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The goals for completing this chapter are for
students to:
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Select a group of assets
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Perform depreciation projections for assets
Change asset information
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Transfer or retire assets
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Inquire and report on asset transactions
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Chapter 4: 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.
The chapter examines the reports that should be
printed prior to performing the closing process. Time is
spent discussing what actually takes place during the
closing process and the two types of closings: calendar
year and fiscal year.
Main Topics
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Fixed Assets Period-end Checklist
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Calculate Depreciation
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General Ledger Posting
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Reconcile Fixed Assets to General Ledger
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Purge Purchasing Transactions
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Fixed Assets Year End Checklist
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Year-End Reports and Routine
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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
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Labs
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Run Month-end Depreciation for All Assets
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Post Month-end Fixed Assets Transactions to
General Ledger
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The goals for completing this chapter are for
students to:
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Complete the processes that are performed at
the end of an accounting period
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Complete the processes that performed at the
end of a calendar or fiscal year
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Perform the Year-end closing process
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Appendix A: Job Aids
This appendix is a collection of tools designed to
help users perform work in Fixed Assets in Microsoft
Dynamics GP.
Main Topics
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Straight Line Depreciation Comparison
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Asset Import Utility
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Financial Detail File Activity
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Physical Inventory
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Available Reports
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Checklists
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The goals for completing this chapter are for
students to:
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Use the job aid tools to perform the
associated tasks
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Appendix B: Case Study
This case study is a comprehensive lab that
reinforces the learning throughout the Fixed Assets
class.
Main Topics
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Close the year
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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
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Create a SmartList query
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Export data to Microsoft Excel
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The goals for completing this chapter are for
students to:
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Understand the necessary processes to set up
and manage their Fixed Assets module
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Have more confidence in their ability to use
Fixed Assets in their company
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