8 Different Ways to Acquire Fixed asset in Microsoft Dynamics 365 Finance and Operations

In this blog, I will try to explain 8 different ways to acquire fixed asset in Microsoft dynamics 365 finance and operations.

Here is list of methods for acquisition:

1. Purchase requisition > PO > PO Invoice > Fixed asset
2. PO > PO Invoice > Fixed Asset
3. PO Invoice > Fixed asset
4. Non-PO Invoice Journal > Fixed asset
5. Inventory to Fixed asset
6. Fixed asset Acquisition Proposal > Fixed asset Journal > Fixed Asset
7. Fixed asset Journal > Fixed Asset
8. Project > Fixed asset

Pre-requisites-1: Enable Fixed asset parameters for Acquisition from Purchase order

Pre-requisites-2: Setup Business rule for identifying organization wide fixed asset

Procurement and Sourcing > Setup > Fixed asset

Note: Please read my blog to understand complete P2P process

https://exploredynamics365.home.blog/2020/08/29/procure-to-pay-process-effective-way-with-new-features-and-power-automate-in-microsoft-dynamics-365-finance-and-operations/

Scenarios-1: Purchase requisition > PO > PO Invoice > Fixed asset

Step-1: Create PR > Add lines > Approve PR > release PR > Create PO

Step-2: Confirm PO > Post Product Receipt

On product receipt posting fixed asset number will be created but with not yet acquire status

Step-3: Post PO Invoice

On this step Fixed asset will be acquired

Scenarios-2: PO > PO Invoice > Fixed asset

Step-1: Create PO > Add Lines > Specify setup for Fixed asset

Note: Follow same steps to Acquire fixed asset as in previous scenarios.

Scenarios-3: PO Invoice > Fixed asset

If user has not specified Fixed asset setup during PO or from PR , still user can specify at the time of PO Invoice.

Scenarios-4: Non-PO Invoice Journal

Create fixed asset journal > Add lines for invoice > In offset account type select Fixed asset > Select Fixed asset number

Note: User should have fixed asset number created manually before creating journal

Scenarios-5: Inventory to Fixed asset

Many times, customer keeps items in inventory until it is placed in service and when it is required to place in service, customer converts this inventory to fixed asset. For this we need to use Inventory to Fixed asset journal

Fixed Asset > fixed asset Journal > Inventory to Fixed asset Journal

Note: Item model group for such items should not be weighted average.

Scenarios-6: Fixed asset Proposal

This method can be used when user has many assets created and acquisition cost is specified in master. In this method system creates fixed asset acquisition journal based on proposal criteria and then user can post that journal to acquire the fixed asset.

Note: User should create fixed asset number manually first with acquisition Cost

Scenarios-7: Fixed asset Journal

Apart from fixed asset proposal method user can post manual fixed asset acquisition journal to acquire Fixed asset

Note: User should create fixed asset number manually first

Scenarios-8: Project cost to Fixed asset (Project Elimination)

This process is used when user wants to convert project in to Fixed asset, this process is called as project elimination.

Navigate to Project management and accounting > Select Project > Manage tab > Run estimation > Select Elimination method > Post

That’s it for this blog, hope this will help you to define fixed asset acquisition process to the customer.

Thank You!!! Keep reading and sharing!!!