Fixed Assets

Topic 27 : Fixed Assets Introduction

Define fixed assets

Examine required functionality for fixed assets

Describe the integration of the Fixed assets module with General ledger, Accounts payable, Accounts receivable, Project accounting, and Inventory management modules


Topic  28 : Setup Procedures  

Review system setup for Fixed assets

Review the basic setup requirements for the Fixed assets module

Discuss the Value models, Asset Groups, Disposal and Posting profile components of Fixed assets setup

Discuss the setup of Fixed assets parameters

Explain how to sue the Capitalization threshold

Describe, create, and change Reason codes in Fixed assets

Review depreciation methods and conventions

Provide an overview for Depreciation books

Describe extended functionality setup requirements for Fixed assets

Review Mass update depreciation conventions for a depreciation book


Topic 29 : Setup of Assets          

Describe the fields available in the Fixed assets form

Differentiate between financial and non-financial information for assets

Set up a fixed asset

Show how to lend assets

Assign bar codes to assets

Complete asset budgeting

Associate and manage fixed assets within the Projects form

Review the fixed asset details associated with a project or subproject


Topic 30 : Asset Transactions               

Use asset Transaction Types

Use journals to manually enter fixed asset transactions

Control fixed asset acquisition transaction creation from purchasing

Restrict user group permissions for posting fixed asset acquisition transactions in purchasing

Create a fixed asset record directly from purchasing, during posting of a product receipt or vendor invoice

Describe when the Fixed asset receipt and Fixed asset issue account types will be used

Record depreciation

Use proposals to enter fixed asset transactions

Discuss value adjustments for fixed assets

Discuss fixed asset disposals

Describe where fixed asset transaction reversals are performed

Perform fixed asset transaction reversals

Describe how the replacement cost factor and the insured value factor on the aset group, are used to update an asset’s replacement cost and insured value amounts

Process updates to an asset’s replacement cost and insured value amounts

Copy a fixed asset

Change a fixed asset group

Enter a fixed asset addition


Topic 31 : Inquiries and Reports         

Demonstrate the use of data inquiries available in Fixed assets

Demonstrate how to run reports