What are the Benefits of Using Dynamics GP Fixed Assets Management Module?
As Microsoft Dynamics GP consultants, we get questions from our clients on how they can take advantage of the robust functionality in Dynamics GP. One area that clients struggle with is managing Fixed Assets manually. Fortunately, the Fixed Assets Management module in Microsoft Dynamics GP delivers a variety of features and reporting tools that can help you track, analyze, and manipulate your fixed assets. If you are on a current version of Dynamics GP, Fixed Asset Management is already included in your Starter Pack and already equipped to get started with better asset management.
We suggest you download our complete list of the Starter Pack and Extended Pack module list for a complete list of the available Dynamics GP modules.
5 Benefits of Tracking Fixed Assets with Dynamics GP
- Flexible Set-Up Functionality: Assets can be set up quickly and easily using classes or account groups. Create an unlimited number of books of assets for each company, including corporate, federal tax, alternative minimum tax and more. You can enter a range of asset information including acquisition date, cost and physical location. Then, optimize operations by setting defaults and making mass changes, such as retirement or depreciation, to large numbers of assets at the same time.
- Managing Changes and Depreciations: Making changes to one or many assets can be done easily. Plus, you can capture necessary asset data for tax purposes while performing depreciations. There are 16 depreciation methods you can use, with the ability to back out depreciation, recalculate it or project it ahead for any number of assets in your books.
- General Ledger, PO and Payables Integration: Update your General Ledger automatically with fixed asset management data and integrate with asset information from your GP POs and Payables.
- Standard and Custom Reporting: You can also take advantage of a wide variety of standard reports. This includes depreciation ledgers, property transfer, inventory list and asset retirements. Then, create custom reports with SmartLists or Report Writer.
- Auto-Assignment and Inter-Company Transactions: A recently added new feature to Fixed Assets is auto-assignment of asset IDs to new asset additions. The new ability to move assets between companies within Dynamics GP using inter-company transactions allows for asset ID’s to be auto-added during the transfer process.
To get started tracking your Fixed Assets with Dynamics GP we suggest you contact your Dynamics GP ERP consultant/reseller to help get set up. Depending on the number of assets you need to track, there is time involved in getting your Fixed Assets module properly set-up in your system. For further information or assistance on Fixed Assets in Dynamics GP or to learn more about Dynamics GP in general, please contact us.
Check out this previously recorded 50-minute webinar for an overview of the Dynamics GP 2015 Fixed Assets module. You will discover how GP Fixed Assets can help you with depreciation routines, asset details, and financial data.
