Fixed Assets Capabilities with Microsoft Business Central: Microsoft Dynamic s 365 Business Central is a business management solution for small and mid-sized organizations that automate and streamlines business processes and helps you manage your business. Highly adaptable and rich with features, Business Central enables your company to manage your business, including finance, sales, service, project management, distribution, manufacturing and more. You can easily add functionality that is relevant to your region of operation, and that is customized to support even highly specialized industries. Business Central is fast to implement, easy to configure, and leads innovations in product design, development, implementation, and usability. During this blog post we will explain what Microsoft Business Central is and highlight what the Fixed Assets Capabilities with Microsoft Business Central are.
A Proven Cloud-Based ERP Solution.
Business Central is an all-in-one, cloud-based ERP (Enterprise Resource Planning) solution designed to streamline your business operations. Cloud technologies provide a critical advantage for addressing the top business priorities and enabling businesses to:
- Adapt to new technologies.
- Improve security, privacy, and reliability.
- Enable scalability, flexibility, and easier onboarding.
- Free up IT resources to focus on high-value work.
- Leverage ready-to-use AI features.
- Accelerate business insights.
- Remain current and compliant.
The Microsoft Cloud takes these benefits a step further so you can run your entire digital infrastructure within the cloud. Dynamics 365 integrates with Microsoft 365, giving you unparalleled integration across systems and processes for better productivity and collaboration in one solution.
Microsoft Business Central Features
With years of development, Microsoft Dynamics 365 Business Central is a popular and proven Modern Business Management/ERP Solution for small to mid-sized organizations with robust features set most companies are looking for including:
- Financial Management
- Supply Chain Management
- Familiar Microsoft Business Tools Integrations
- AI Productivity
- Sustainability Management
- Analytics and Business Reporting
- Inventory and Supply Chain Management
- Sales
- Ecommerce
- Customer Relationship Management CRM)
- Project Management
- Service Management
- Human Resources
- Globalization and Compliance
- Administration
- Security
- Workflows and Automation
- Industry Solutions
- Customization and Integrations
- Migration from other ERP
Business Central offers comprehensive financial management capabilities designed for small and mid-sized organizations. Streamline your financial processes. Manage your finances end to end—oversee your budget, accelerate month-end and year-end close, use unlimited dimensions, track fixed assets, and more. Maintain financial health and make informed decisions with Business Central’s robust financial tools.
Fixed Assets Capabilities with Microsoft Business Central.
Fixed Assets.
Track fixed assets such as buildings, machinery, and equipment. Post fixed-asset transactions such as acquisitions, depreciation, write-downs, appreciation, and disposal. Assign one or more depreciation books to define different one of the 8 methods and conditions for calculating depreciation. Use depreciation books to meet managerial, internal accounting, and legal reporting requirements. Register maintenance costs, insurance coverage, and cost allocations for assets.
Fixed Assets Allocation.
Synchronize data when two or more companies are using the same master data, for example, when setting up new subsidiary companies. Minimize manual data entry for each company. Master data includes settings and non-transactional information about business entities such as customers, vendors, items, and employees. The data provides context for business transactions. Use unidirectional synchronization to pull data from the source company to the subsidiary companies within the same Business Central environment. Job queue entries update coupled records in the subsidiaries when someone changes data in the source company.
Fixed Assets Insurance.
Set up an insurance policy to cover one or more fixed assets. Assign one fixed asset to one insurance policy, or multiple fixed assets to one insurance policy. Use dedicated reports and statistics pages for analyzing insurance policies and whether your fixed assets are over- or under-insured.
Fixed Assets Maintenance.
Record maintenance and service expenses for fixed assets. Get detailed information to analyze and make decisions about fixed asset renewal and disposal.
Revalue Fixed Assets.
Revaluation of fixed assets can consist of appreciations, write-downs, or general value adjustments. Post a journal line with appreciation to the depreciation book, when the value of a fixed asset increases. The new amount is recorded as appreciation according to the fixed asset posting setup. Post a journal line with a lower amount, a write-down, to the depreciation book, when the value of a fixed asset decreases. The new amount is recorded as a write-down according to the fixed asset posting setup. Indexation is used to adjust multiple fixed asset values, for example per general price changes.
Split or Combine Fixed Assets.
You can split one fixed asset into multiple fixed assets. For example, when you need to distribute a fixed asset across three departments. You can also combine multiple fixed assets into one fixed asset, for example when you move distributed fixed assets into one department.
Next Steps:
Fixed Assets Capabilities with Microsoft Business Central are included with vast financial management features that companies are looking for. These features are part of a greater robust ERP feature set that makes this Business Management Solution so popular. In addition, pricing for Microsoft Dynamics 365 Business Central is simple and affordable. There are 2 pricing options: Microsoft Dynamics 365 Business Central Essentials Licensing and Microsoft Dynamics 365 Business Central Premium Licensing. See below next steps to learn more!
Discover Microsoft Dynamics 365 Business Central
Learn more Fixed Asset Capabilities with Microsoft Business Central and Financial Management by viewing our Business Central Blog.
Learn about the Pricing and Licensing Options for Microsoft Business Central
Posted by iCepts Technology Group, Inc. a Microsoft Dynamics 365 Business Central Partner in Pennsylvania
