Description:
About this Course
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, partial asset transfers, partial asset 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 discusses how to define default values and
gather the information you need to make better business decisions by exploring
powerful inquiry and lookup functions.
Audience Profile
People 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;
accountants, CEOs, and consultants who need to understand the technical aspects
of Fixed Assets in Microsoft Dynamics GP and gain foundational knowledge of the
application’s functionality.
At Course Completion
After
completing this course, students will 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.
Syllabus:
Course
Outline
Module 1: Overview and Setup Procedures
This module
provides a general overview of the features and benefits of using Fixed Assets
in Microsoft Dynamics GP 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 will set up assets to track crucial depreciation
information for a company. The instructor will discuss how to use asset classes
and asset books to organize and ease data entry.
Lessons
•Fixed Assets Features and Benefits
•Fixed Assets Processes and
Integration
•Set Up Quarters and Fiscal Periods
•Enter Account Groups
•Enter Fixed Assets Post Accounts
•Create Insurance and Asset Class
Records
•Create Book Records
•Create Book Class Records
•Fixed
Assets Company Setup
•Create Location and Physical Location Records
•Create Lease, Retirement and Structure Records
•Fixed Assets User
Preferences
•Enter Existing Assets
After completing this module,
students will be able to:
•Create the Fixed Assets Calendar file and
enter quarter records.
•Set up purchasing posting accounts.
•Create
Insurance and Asset Classes.
•Enter defaults and set parameters for Fixed
Assets.
•Create location and physical location records which can be assigned
to assets.
•Set up Lease, Retirement, and Structure records that can be
assigned to assets.
•Enter existing assets when first implementing the Fixed
Assets module.
Module 2: Daily Procedures
This module
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.
Lessons
•Asset General Information
•Asset
Account Information
•Asset Book Information
•Asset Insurance and Lease
Records
•Asset User Data
•Payables Management Interface
•Purchase
Order Processing Interface
After completing this module, students
will be able to:
•Add assets using the Asset General Information
window.
•Enter or view the accounts assigned to an asset.
•Enter
depreciation related information for assets in each asset book.
•Enter
Insurance and Lease records for assets.
•Describe the interface between
Payables Management and Fixed Assets in Microsoft Dynamics GP.
•Enter
user-defined fields to track other necessary information about
assets.
Module 3: Maintaining Records
This module
examines the functionality available to maintain Fixed Assets records. The
process to perform depreciation projections, asset transfers, and asset
retirements is discussed in detail. The utilities that ensure the integrity of
data such as file maintenance, reconcile, and deleting assets are examined. It
also discusses the Inquiry windows and reports that can be
generated.
Lessons
•Select Assets
•Depreciation
Projections
•Changing Asset Information
•Transferring Assets
•Retiring Assets
•Retire Undo
•Asset Utilities
•Using Inquiries
•Report Options and Printing
•Report List
After completing
this module, students will be able to:
•Select a group of assets.
•Project depreciation for one asset or a group of assets.
•Change asset
information.
•Use the Transfer Maintenance window to make changes to asset
information.
•Retire assets that are sold or disposed of in your business.
•Undo retirements of assets.
•Reconcile, maintain and delete assets
using Fixed Assets utilities.
•Inquire on fixed asset information.
•Create report options and print reports.
•Use the Report List
functionality to improve your reporting experience.
Module 4:
Period-end Procedures
This module examines the processes that are
completed at the end of the month, period, calendar, and fiscal year. This
module focuses on the problems that may cause Fixed Assets to be out of balance
with the General Ledger. It examines the reports that should be printed prior to
performing the closing process.
Lessons
•Period-End
Procedures
•Year-End Procedures
After completing this module,
students will be able to:
•Complete period-end procedures at the end
of a month or period.
•Complete year-end procedures at the end of a fiscal
year.