Microsoft Dynamics NAV is a robust and mature Business Management ERP System designed for growing Wholesale Distribution and Manufacturing companies. The Starter Pack in Dynamics NAV is for companies who need core financials and trade functionality including:
- Basic Financials Management (General Ledger and Fixed Assets)
- Basic Supply Chain Management and Basic Sales Management (Sales, Purchasing and Inventory)
- Professional Services (Project management) with a wide set of
- Business Insight and reporting functionality as an integral part of the product.
Additionally the Starter pack comes with a wide set to tools to customize the solution to meet the needs of every customer together with deep integration opportunities to be made through web services. In licensing Microsoft Dynamics NAV, there are 2 options for its’ core functionality: The Starter Pack and Extended Pack.
In this post, we will focus on Fixed Assets ERP Functionality with Dynamics NAV’ Starter Pack.
Basic Fixed Assets: 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.
Fixed Assets Allocations: Allocate 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.
Insurance: 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 amounts.
Maintenance: Record maintenance and service expenses for each fixed asset. Get the detailed information you need to analyze and make decisions about the renewal and disposal of fixed assets.
Reclassification: 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.
Learn more here about all the Capabilities and Features of Microsoft Dynamics NAV
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Posted by iCepts Technology Group, a Pennsylvania Microsoft Dynamics NAV Partner