When we buy fixed assets via purchase order (item) and it is necessary that inventory close regulates the inventory issue (activation into fixed assets), it only regulates fixed asset ledger accounts, but not the subledger fixed asset itself. So after inventory close, there is a difference between subledger and general ledger for fixed assets.
German reporting requires by law a Fixed asset statement with proper values to proof the general ledger numbers.
I would like to have an inventory close functionality that does not create differences between general ledger and subledger, but rather regulates the subledger as well.
This scenario may happen when...
... buying a fixed asset via purchase order and adding miscelanous charges (to be put on item value) after invoicing, for example due to separate haulage invoice or customs invoice.
... buying fixed assets into stock and later activating one piece of that stock for own use (for example a furniture shop that needs a new employee desk).
A new international accounting standard for leased assets (IFRS16) has requirements to capitalise all leases regardless of whether they are financial or operating leases.
Microsoft have advised via the IFRS support document (https://mbs.microsoft.com/Files/public/CS/AX/MicrosoftDynamics365forOperationsSupportforIFRS.pdf) that any calculation of the asset values and the repayment split should be done outside of Dynamics 365. Many clients are asking for this functionality to be included within Dynamics 365, specifically;
- Automatic calculation of the right of use value based on the NPV of lease payments
- Periodic calculation of interest and liability reduction calculation
- Periodic calculation of current and non-current liability values.
Are there any plans for this from Microsoft?
The report "Fixed asset balances" provides a good overview about all different balances in the asset accounting (aquisition, depreciation, net book value, etc).
These balances are very important for the year-end reporting in each company. But unfortunately there is no filter to call this report for a specific day. So if you need the balances for your assets to the end of December 2017 and you already did some new asset transactions in the new year, this report is useless without the filter "Balances per".
In other reports like the accounts receivable "Open transaction report" such a parameter "Open transactions per" is available. We need the same for the "Fixed asset balances" report.
Please implement a new filter "Balance per" for the "Fixed asset balances" report to extract the balances for a specifc date!
When purchase lines are marked create new asset, and the items are received and invoiced as new fixed asset only one fixed asset is created, even though the qurantity is more than one. The invoiced quantity is admittedly present on the fixed asset, but in some scenarios there is a need to follow up the fixed assets individually, requiring a split of the fixed asset into assets of quantity=1.
The idea is to create a new parameter on purcahse order line (POL), allowing the received and/or invoiced quantity be split into individual assets.
If such a split has taken place, the reference to the fixed asset number (field on POL should indicate a multiple relation - in the same way as for instance multiple packing slips related to one invoice is indicated.
An inquiry for seeing the multiple fixed assets must be available on the purchase order line.
The alternative to split the POL according to the quantity is not a good workaround, as the vendor will not understand the order, and purchase quantity is important for discount set up in trade/purchase agreements and minimum quantity and quality /test parameters on the item master data.
Note: There are alternative designs, like introducing parent- child assets - and let the PO refer to the parent fixed asset before split into individual fixed assets.
The fixed asset module is missing a singel detailed report which includes the following:-
1. Opening NBV balance
2. Opening Acquisition Cost
3. Additions for period
4. Opening Disposal amount
5. Disposal for periods
6. Closing Acq. Cost
6. Opening Dep amount
6. Depreciation for period
7. Closing depreciation amount
8. Revaluation for period
9. Closing NBV
Users require the ability to run the report by Fixed asset (detailed) and summarised e.g. by Fixed Asset Group. The report needs be able to run by different "books" e.g. accounting and tax. This report is required for every implementation we do.
Hi, Currently, we do not have a report that allows us reconciling fixed asset and ledger balances. It would be great if you could either create a new reconciliation report or - alternatively - add the following columns to the fixed asset balances report: - Acquisition date - Amortization period - Fixed asset balance (net book value) - Ledger balance - Difference (between fixed asset balance and ledger balance) Many thanks and best regards, Ludwig
"Reclassification acquisition cost" and "Reclassification of cumulative depreciation" as posting types
In the fixed assets area, reclassifications of fixed assets (from one group to another) are covered by a functionality in D365 (mainly from "under contruction" to the final asset group), not by a posting entry.
However, from financial reporting perspective reclassifications need to be tracked as postings. This means, we need to define
1. Reclassification (gross acquisition cost) and
2. Reclassification (cumulative depreciation)
as additional posting types, to be tracked in the GL and to be reported on in the asset balances.
This is very much a standard requirement. Since this requires at least 4 posting transactions, the background postings may be defined similar to disposals where also some additional postings to the sales/scrap main account entries are done.
When running a depreciation proposal for a set fixed asset and date, the system allows users to re-run the depreciation proposal for the same fixed asset and date and allows the same entries to post causing duplicate entries in the Fixed Asset. Depreciation” type transaction for one asset can be posted twice for a particular period.
System should mention a warning/error message while posting more than one Depreciation type transactions for the same date and same fixed asset.
In the fixed assets module, derived books trigger the same transaction types as defined in the books setup - derived books.
However, the use of financial dimensions is rather incomplete:
In the fixed asset journal, the entered financial dimensions are not applied in the derived book postings. They remain just empty.
A preset financial dimension value in the journal name definition is not applied in the derived books.
An entered dimension value in the journal line is neither considered in the derived book entry.
In the Books tab of the fixed asset journal, the applied main accounts and financial dimensions are not visible (nor editable) at all.
The only possible workaround is to enter the financial dimension value in advance into the book-related master data. However, as far as the dimension values need to be changed (according to respective transaction) this is not manageable.
We should improve the financial dimension handling in the derived books accordingly and provide this kind of basic functionality.
Currently, the D365 system will not calculate depreciation on assets with a negative basis (acquisition price.) This is causing us to track these assets in Excel and manually record depreciation expense. Can you please consider adding this functionality?