Exercise - Set up a new fixed asset posting group

  • 10 minutes

This exercise is written to use the Cronus sample company from the US version of Business Central. You might need to make adjustments to the steps if you use the sample company from your country or region.

Scenario

The accounting manager at CRONUS has decided to create a new posting group to post the transactions that involve IT equipment.

Your task in this exercise is to set up a new posting group, IT-EQUIP, for the IT equipment transactions.

Use the following G/L accounts:

  • Code: IT-EQUIP

  • Acquisition Cost Account: 10800

  • Accum. Depreciation Account: 10900

  • Acq. Cost Acc. on Disposal: 10800

  • Accum. Depr. Acc. on Disposal: 10900

  • Gains Acc. on Disposal: 61500

  • Losses Acc. on Disposal: 61500

  • Maintenance Expense Account: 61200

  • Acquisition Cost Bal. Acc.: 20100

  • Depreciation Expense Acc.: 61600

Don't allocate depreciation expenses or other FA posting types.

Tasks

Set up a new FA posting group for IT equipment.

Steps

  1. Select the Search for Page icon in the upper-right corner of the page, enter FA posting groups, and then select the related link.

  2. Select New.

  3. On the new line, fill in the fields as follows:

    • Code: IT-EQUIP

    • Acquisition Cost Account: 10800

    • Accum. Depreciation Account: 10900

    • Acq. Cost Acc. on Disposal: 10800

    • Accum. Depr. Acc. on Disposal: 10900

    • Gains Acc. on Disposal: 61500

    • Losses Acc. on Disposal: 61500

    • Maintenance Expense Account: 61200

    • Acquisition Cost Bal. Acc.: 20100

    • Depreciation Expense Acc.: 61600

  4. Press the Esc key to close the page.