How to: Update an asset’s FA Group and Value model in AX 2012
Posted on: February 16, 2016 | By: Jarrod Kraemer | Microsoft Dynamics AX/365
Authored by: Chris Rusing
In the Microsoft Dynamics AX community, a general rule of thumb is that once the system is configured with specific intentions, it can sometimes be very difficult to deviate from the AX logic derived by those configurations. This is especially true once transactions have been posted. However, where there is a will, there is a way! Below are two methods which demonstrate how to change an asset’s fixed asset group and value model (one prior to posted transactions and one after transactions have been posted).
1. Firstly, travel to this address to find a list of your assets (depending on what company you are in).
2. From the list of assets in the grid, double click on the one you would like to update. From there you can update information in any of fast tabs (General, Technical Information, Insurance, Location, etc.) Just make sure you click the Edit button in the top left hand corner to change the fields.
3. In order to change the fixed asset group of a certain asset record, click the Change fixed asset group button at the top left of the form, next to the edit button.
4. Click the drop down for the new group and select your new fixed asset. Also click the box for New fixed asset number to assign a new number for the asset. Click Yes to confirm.
5. Please note that you will now have to change the value models to match the new fixed asset group. This can easily be done if the asset is yet to be acquired in the fixed asset journal (no posted transactions). Go to the Value models form of the asset and select the current value model, then click Delete. Click Yes to confirm the deletion.
6. Now, click the New button at the top of the screen and select the updated value model for the fixed asset group.
7. Update acquisition price and date in the general tab. Update any depreciation dates and useful lives in the depreciation tab. Finally update your financial dimensions in the financial dimension tab.
8. Close out all forms and click refresh at the top of the screen to see your updated asset.
There is an alternative method for changing a fixed asset group if the fixed asset already has a couple of months of transactions (acquisition, depreciation, adjustments). This probably more applicable to a real life issue you may encounter. Please follow the directions below on how to complete this type of situation.
1. First, you must create a new fixed asset under the new fixed asset group name. Fill out all the necessary information (acquisition date, acquisition price, depreciation start date, depreciation last run date).
2. Secondly, for the asset you are changing (or eliminating per say), go to the value models. A very important step- click the check box to allow the net book value to be negative.
3. Next, go to your fixed asset journal and use the fixed asset journal you use to acquire assets and click the lines at the top of the form.
4. In the lines of the journal, enter the transaction type acquisition adjustment for the first line and choose the asset you would like to eliminate. The amount should be the initial book value of the asset and in the credit field. In the second line, enter the transaction type acquisition and choose the asset you newly created. Debit the same book amount as you credited. Also, be sure to delete any values in the offset account. Validate and post the journal then close out the form.
5. In the fixed asset journal, create a new journal and select the journal you use to adjust depreciation then click Lines.
6. In the lines, choose the transaction type Depreciation adjustment and select the asset you are eliminating. Next, type in the accumulated depreciation the asset has in the debit field. Enter to a new line below and change the transaction type to Depreciation adjustment. Choose the new asset you recently created and enter the same amount as before in the credit field. Ensure that all values in the offset accounts have been deleted. Validate and post the journal then close out of all forms.
7. Go back to your list of assets and find the asset that was recently created. Go in to the value models of that asset and enter the correct amount of depreciation periods remaining and the date when depreciation was last run (the depreciation adjustment does not automatically change these fields and it must be done manually to be in line with the remaining depreciation). Close out of this form when you are finished.