A feature that is not widely known is the ability to use Analytical Accounting in GP with the Fixed Assets Module. I have received several support requests from clients wanting to find a way to attach depreciation expenses to AA codes. Luckily, in Dynamics GP you have the ability to do this. The end result will be that when you do any type of fixed assets transaction (ie. depreciation, additions, disposals) it records the GL transaction as normal, and then it will also code the transaction to the AA dimension code attached to the asset.
Before starting, there are some windows in Dynamics GP to enable this functionality, as follows (this is assumed that you already have Analytical Accounting installed):
1. Microsoft Dynamics GP > Tools > Setup > Fixed Assets > Company
a. Check mark ‘Post in Detail’
2. Microsoft Dynamics GP > Tools > Setup > Company > Analytical Accounting > Options
a. Check mark ‘Enable Trx. Dimensions in Fixed Assets’
Analytical Accounting in GP
Once the above setup tasks are completed, you can start adding AA dimension codes to your assets! Here is an example of how to add AA codes to individual assets:
- Cards > Fixed Assets > Account
- Choose an asset ID
- Then for each GL account, you will see the familiar AA code button that you see in other screens in GP. You can now press this button to add your AA code(s) that will be attached to this individual asset.
* Note that in order to be able to attach AA codes to your GL accounts above, you will need to ensure you link these GL codes to the dimension code.
After your assets have AA codes attached, you can now do any process in fixed assets, and when it records those transactions to the GL, it will also record it to the AA codes that you specified in the Account window above. You can now run your usual AA reports that will now have fixed asset transaction information and be able to answer some questions related to fixed assets and analytical accounting, ie; How much depreciation was charged to a specific project code for a given year, or how many additions and disposals for another project code, and more.
More than likely you will have numerous asset IDs, therefore the above steps can be a lot if you have to perform it for hundreds or thousands of assets. A simple solution to this would be to do a mail merge macro that can do all of this automatically. Encore has another blog article that provides steps on how to do a mail merge macro here: Mail Merge Macro in GP
If you would like assistance with setting this up, feel free to contact us and we would be happy to give you some guidance and best practices to follow.
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