Acquire fixed assets

Use the Fixed Asset Card page to enter information about an asset. You can set up buildings or production equipment as a main asset with a component list, and you can group them in various ways, such as by class, department, or location. You must set up and assign a depreciation book to each fixed asset before you can acquire it.

After you set up a fixed asset and assign a depreciation book, you must acquire the fixed asset. To acquire a fixed asset, you record its acquisition cost in the relevant G/L account, bank account, or vendor by posting an acquisition transaction from the Fixed Asset G/L Journal page. You can use the Assisted Fixed Asset Acquisition page to create and post the required general journal lines automatically.

Use indexation to adjust values for general price-level changes. Use the Index Fixed Assets batch job to calculate the acquisition costs and replacement costs.

Add a fixed asset to your list of fixed assets

Before you can acquire a fixed asset, you must add it to your list of assets. There are several ways to add fixed assets to your list:

• Enter information about the assets on the Fixed Asset Card page.
• Use the Edit in Excel action to download your list of assets to a worksheet, add new assets to the list, and then publish the update to Business Central.
• Use a purchase order to add assets.
• Use the Copy fixed asset action.

After you add fixed assets to your list, the next step is to acquire them so you can use them in transactions. Learn more at Acquire a fixed asset.

Add a fixed asset on the Fixed Asset Card page

1. Choose the icon, enter Fixed Assets, and then choose the related link.

2. Choose the New action, and then fill in the fields on the General FastTab as necessary. Hover over a field to read a short description.

3. On the Depreciation Book FastTab, fill in the fields as necessary. This step assigns a depreciation book to the fixed asset.

4. If you need to assign more than one depreciation book to the fixed asset, choose the Add More Depreciation Books action. To learn more, go to To assign a depreciation book to a fixed asset.

   After you fill in the required fields, the You are ready to acquire the fixed asset. notification appears at the top of the page. If you're ready to acquire the asset now, choose the Acquire action. Follow the steps on the Assisted Fixed Asset Acquisition page to complete the acquisition. If you aren't ready, you can always acquire the asset later.

Use Edit in Excel to add assets

If you want to add numerous fixed assets, Edit in Excel is a great tool to use. The tool downloads your current list of assets in a worksheet that includes most of the fields available on the Fixed Asset Card page. You can fill in some or all of fields on a row for each asset, and publish your changes to add them to your list in Business Central. If you can't fill in all required field, that's ok. You can update them in Business Central when you're ready.

Note

To use the Edit in Excel action, you must have the Microsoft Dynamics Office Add-in installed. The add-in creates the connection between Excel and Business Central. To learn more, go to Get the Business Central Add-in for Excel.

1. Choose the icon, enter Fixed Assets, and then choose the related link.

2. Choose the icon, and then choose Edit in Excel.

3. Open the downloaded file, and enter information about the new fixed assets.

   Tip

   You don't need to enter an identifier in the No. column. When you publish your update, Business Central assigns an identifier based on the number series you use for fixed assets.

4. To update Business Central, on the Microsoft Dynamics pane, choose Publish.

Add a fixed asset from a purchase order or invoice

The following steps describe how to add a fixed asset from a purchase order. The steps are similar for a purchase invoice.

1. Choose the icon, enter Purchase Orders, and then choose the related link.
2. Choose New to create a new purchase order.
3. On the General FastTab, fill in the fields as necessary. Choose a field to read a short description of the field or link to more information.
4. On the Lines FastTab, in the Type field, choose Fixed Asset.
5. In the No. field, either choose an existing fixed asset to add an expense, or choose New to add a new asset.
6. After you enter the information for the new asset and the purchase order, choose Post.

Acquire a fixed asset by using a fixed asset G/L journal

The following procedure describes how to acquire by creating and posting the required fixed asset G/L journal lines. You can also create and post the journal lines manually. To learn more, go to Acquire a fixed asset by using a fixed asset G/L journal.

1. Choose the icon, enter Fixed Assets, and then choose the related link.
2. Choose the asset you want to acquire, and then choose the Acquire action.
3. Follow the steps on the Assisted Fixed Asset Acquisition page to complete the acquisition.

Note

You can also post acquisition cost as credits. In that case, remember that the value in the Acquisition Cost Incl. VAT field must be with a minus sign to indicate a credit.

When you choose Finish, the Book Value field on the Fixed Asset Card page is filled in, which indicates that the fixed asset was acquired at the specified acquisition cost.

To post a fixed asset acquisition manually with a fixed asset G/L journal

The following procedure describes how to acquire a fixed asset manually by creating and posting lines on the Fixed Asset G/L Journal page. You can also acquire a fixed asset automatically on the Fixed Asset Card page by choosing the Acquire fixed asset action. To learn more, go to Acquire a fixed asset.

Note

You can also post acquisition cost as credits. In that case, remember that the value in the Amount field must be with a minus sign to indicate a credit.

1. Choose the icon, enter Fixed Asset G/L Journals, and then choose the related link.
2. On the Fixed Asset G/L Journal page, in the FA Posting Type field, select Acquisition Cost.
3. Fill in the remaining fields as necessary.
4. Choose the Post action.

Tip

If you fill in the Insurance No. field, Business Central also posts the acquisition cost of the fixed asset to the insurance coverage ledger. To learn more, go to Insure Fixed Assets.

To set up a component list for a main asset

You can group your fixed assets into main assets and their components. For example, you might have a production machine that consists of several parts that you want to group in this manner.

You must set up the main asset and all its components as individual fixed asset. After you set up a component list, Business Central automatically fills in the Main Assets/Component and Components of Main Asset fields on the fixed assets.

1. Choose the icon, enter Fixed Assets, and then choose the related link.
2. Select the fixed asset that is the main asset, and then choose the Main Asset Components action.
3. On the Main Asset Components page, choose the FA No. field, and then select the fixed asset that you want to add as a component of the main asset.
4. Close the page.
5. Repeat steps 3 and 4 for each component asset that you want to add.
6. Choose the icon, enter Fixed Asset Setup, and then choose the related link.
7. Turn on the Allow Posting to Main Assets toggle.

To cancel an acquisition cost posting for one fixed asset

If you make an error when posting an acquisition cost, you can remove the entry with the Cancel FA Entries batch job and then post the correct acquisition entry. The erroneous entries are transferred to the FA Error Ledger Entries page.

For example, if you post an acquisition with the wrong date, you must correct it as soon as possible because the fixed asset posting date is used for many calculations.

Important

You can't use the Reverse Transactions action for fixed asset entries.

1. Choose the icon, enter FA Ledger Entries, and then choose the related link.
2. In the FA Ledger Entries page, select the entry or entries that you want to cancel.
3. Choose the Actions menu, and then choose the Cancel Entries action.
4. Fill in the fields as necessary. Hover over a field to read a short description.
5. Choose the OK button to run the batch job.
6. When the incorrect entry or entries are canceled, proceed to post the correct acquisition cost.

To post the salvage value together with the acquisition cost

The salvage value is the residual value of a fixed asset when it can no longer be used. You can post the salvage value at the same time as you post the acquisition cost. To learn more, go to Depreciate or Amortize Fixed Assets.

You can post the salvage value together with the acquisition cost from a fixed asset journal.

Note

This process might require that you personalize the Fixed Asset Journals page by adding the Salvage Value field. By default, the field is not displayed on the page. To learn more, go to Personalize Your Workspace.

1. Choose the icon, enter Fixed Asset Journals, and then choose the related link.
2. On the Fixed Asset Journals page, create the acquisition line. To learn more, go to To post a fixed asset acquisition manually with a fixed asset G/L journal.
3. In the Salvage Value field on the journal line, enter the salvage value amount as a credit (prefix the amount with a minus sign, for example, -100).
4. Choose the Post action.

Note

If a salvage value exists for a fixed asset, that value is used in depreciation posting instead of the value in the Ending Book Value field on the FA Depreciation Books page. To learn more, go to To manage the ending book value.

See also

Fixed Assets
Setting Up Fixed Assets
Design details about nondeductible VAT impact on Fixed Assets
Finance
Getting Ready for Doing Business
Work with Business Central

Find free e-learning modules for Business Central here