19 Dec Fixed Assets in Dynamics GP
Fixed Assets is one of my favorite modules in GP. It is well integrated with GP and is easy to use. Most people use Excel to control their fixed assets. I used to.
The problem that I often had was when a new year came along and I had to copy all the formulas over to the next year so that the Excel spreadsheet would properly calculate depreciation. Almost invariably there would be a minor error in my process that wouldn’t be detected until about the 5th or 6th period of the new year. Bummer. Also, the reporting was painful.
Fixed Assets in GP saves you from this headache. It easily allows you to add assets and depreciate them according to defined schedules. It is integrated into the purchasing process and the general ledger. And I really like the reporting, which is list based. The reporting allows you to easily retrieve the correct information for an audit or for compliance reporting, e.g. annual property tax returns.
This is a video that shows you some of the Fixed Assets functionality: