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Fixed Assets created from a Purchase Order in Dynamics AX

October 30th, 2009 Craig Griffith No comments

Integration of Fixed Assets and and Purchasing in Dynamics AX

Many Dynamics AX users are unaware of the tight integration that the Fixed Assets module has to various modules in AX. Fixed assets integrates with Accounts Payable, Accounts Receivable, Inventory and Projects to name a few modules.

In fact the purchase order process may be used to acquire new assets for the company. There are some basic settings that are required to use Purchase Orders to bring in new assets.

  1. The Fixed asset will need to be created as an item (i.e. ‘Computer hardware’ )
  2. The item may be set up as a service item so as not to hit the inventory accounts while being purchased
  3. In the General Ledger Parameters a setting may be set that allows Fixed Assets to be created from Purchase Orders. The Fixed asset will be created when the PO is received or invoiced.

The process to create to create fixed assets from a purchase order is straight forward.

1. Create a PO and select the item

Figure: Purchase order details form with item to be purchased as an asset.

2. On the Fixed Assets tab check the ‘New fixed asset’ check box. All of the fields except the Fixed Asset Group will be grayed out. Select the Fixed Asset Group.

Figure: Purchase Order Details form – line details – Fixed assets tab

The Fixed asset group that is selected for the item will set the default settings for the asset when it is created. Note: if the user does not check the ‘New fixed asset?’, the user may assign a previously created asset to the item being purchased.

3. Post the packing slip to receive the item

Figure: Post Packing Slip form

4. When the packing slip is posted, the fixed asset is created. On the PO fixed Asset tab, the user will find that a Fixed Asset number has been assigned to the Asset.

Figure: Purchase Order Details form – line details – Fixed assets tab

When the asset is created, it will assign the default value module for the Fixed asset group to the new asset.

5. Invoice the PO. The Cost of the Asset will be transferred to the Fixed Asset

Figure: Post Invoice form.

6. The remaining setups of the fixed asset take place on the Fixed Asset details form. Default values have been assigned to the asset based on the Fixed Asset group that was assigned on the PO.

Figure: Fixed Assets Form.

This post is written by Craig Griffith. Craig is a Senior Manager in the Microsoft Dynamics AX Practice at Ignify . Ignify is a Global Microsoft Dynamics Inner Circle Partner specializing in Dynamics AX for Retail, Distribution, Manufacturing and Chemicals verticals. For help on Microsoft Dynamics ERP email us at dynamics@ignify.com