In Microsoft Dynamics NAV 2013, you can keep track of fixed assets such as buildings, machinery, and equipment. You can also post various fixed-asset transactions: acquisitions, depreciation, write-downs, appreciation, and disposal. For each fixed asset, you set up depreciation books in which the methods and other conditions used for calculating depreciation are defined. You can set up an unlimited number of depreciation books to satisfy legal requirements, and for tax and internal accounting purposes. This granule is well suited for international companies that need to use many depreciation methods.
Allocation is handled through different percentages of fixed asset transactions, such as acquisition cost and depreciation, to different departments or projects by using allocation keys. Useful for when several departments share a fixed asset.
In regards to insurance, maintenance and service expenses, you can keep track of insurance coverage and annual insurance premiums for your fixed assets and easily determine whether your assets are under-insured or over-insured. You can attach each asset to one or more insurance policies and also index insurance amount. You can record maintenance and service expenses for each fixed asset; in addition, Get the detailed information you need to analyze and make decisions about the renewal and disposal of fixed assets.
The fixed assets functionality in Microsoft Dynamics NAV 2013 can also “Reclassify” a fixed asset or part of a fixed asset. For example; from one department to another. You can split one fixed asset into several fixed assets, or combine several fixed assets into one fixed asset. When you need to dispose of one part of a fixed asset, you can split it into two assets and then dispose of the appropriate one.
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Posted By: iCepts Technology Group-A Gold Certified Microsoft Dynamics NAV Partner in Pennsylvania.