When an asset has been created from the Project management and accounting module and additional cost to add life to the asset are incurred in a sub project then D365/AX can only posts these costs as a new 'acquisition'. There is no possibility to select a different posting type such as acquisition adjustment or write up journal, etc.
Please make a corresponding enhancement with the next release.
Thank you and best regards,
Stacy Black
Comments
Hi,
When an asset has been created from the project and additional cost to add life to the asset are incurred in a sub project then D365/AX posts these costs as another 'acquisition'. There is no possibility to select a different posting type such as acquisition adjustment or write up journal, etc.
Please make a corresponding enhancement with the next release.
Thank you and best regards,
Ludwig
Category: Project Accounting
At present, an investment project can only be linked to one asset via the Estimation process i.e. there is a one to one relationship between the project and the fixed asset. This is limited. The reality in business is a single project will contribute to more than one asset i.e. there should be a one to many relationship between the project and fixed asset. For example, image a business develops housing estates. There would be an investment project for each house but there would also be a investment project to create the road which would go past all of the houses. Each house would get a allocation of the road. This is true of a Retailer outfitting a group of stores. The design concept for all stores would be developed in a single investment project and then each store would also have an investment project for the direct labour and materials relating to the store outfitting. At this end of the project, costs would be capitalised both at the design level and the individual store to individual store assets.
Lastly, the "Estimation" process for investment projects should be renamed to "Capitalisation".
Category: Project Accounting
It is an absolute must that you either move items out of projects into Asset under Construction where after you can then capitalise multiple assets or be able to capitalise to multiple assets
Category: Project Accounting
I don't know if this helps you. But we use Subprojects to host various costs related to a fixed asset. So the project manager has to plan upfront how many fixed asset this one project will create. Sort of like doing cost segregation upfront. For example, I'm building a boiler plant. I have 26 sub-projects in that boiler plant. Each of the sub-project will create a fixed asset with different asset life after the project is done. When the invoice comes in, the project manager has to code it to the subproject: boilers, building, or miscellaneous equipment, etc. That way, at the end of the project, I don't have to figure out what cost goes to boilers, what cost goes to building. I just transfer it directly from one sub-project to the fixed asset.
Category: Project Accounting
What works today is to use the Elimination process for the Investment Project and eliminate to a general ledger account (Example: Fixed Asset Construction-In-Progress or clearing account). From there, you can do journal entries to move the acquisition cost to multiple fixed assets.
Category: Project Accounting
I support this functionality. As more project based company that build their own asset start using D365, the requirement to have this functionality will only continue to grow. My last three client wanted this happen and I have to write a simple customization to accomplish this feature.
Category: Project Accounting
I support this feature in D365. Three different client has requested for this feature in D365. I am currently working with a client will be customizing D365 to allow multiple elimination to different Fixed Assets
Category: Project Accounting
Hello Zvika,
I submitted this also under "Fixed Assets". When an asset has modifications that extend the life of the asset, you can add the costs to the asset. In Projects, you can only Eliminate the cost once to a Fixed asset, the additional costs have to be eliminated to a ledger and then a Fixed asset adjustment journal to add the cost to the specific Fixed asset.
Category: Project Accounting
Also, consider changing the category from "AP" to "Fixed Assets" or "Project Accounting" (probably the former) in order to have the request show up to the correct product owner.
Category: Project Accounting
Can you elaborate to the business scenario when this is useful?
Category: Project Accounting
Administrator on 5/6/2019 2:41:02 PM
Thank you for your feedback. This is a great suggestion! We will consider this in our roadmap.
Sincerely,
Kim Nelson
PM, Microsoft