Fixed Assets Retirement in Dynamics GP

The fixed assets module in Dynamics GP is an easy way to record and manage your fixed assets.

A normal part of fixed assets is fixed asset retirement. You might retire a fixed asset for several reasons:

• Sale
• Impairment
• Theft
• Casualty

The Fixed Assets module allows you to record a whole or partial retirement of a fixed asset, and allows you to easily record a retirement transaction and automatically creates all relevant accounting entries.

The Retirement Maintenance screen allows you to specify the type of event related to the retirement and allows you to further identify the transaction with user defined values if you wish:

After you enter and post the retirement transaction you will want to run the GL Posting routine to create the general ledger entry.

This quick video shows the entire process: http://youtu.be/GpRzxcPqVoU

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