Fixed asset layers and books in Microsoft Dynamics 365 Finance and Operations one version D365FO

Fixed asset layers and books in Microsoft Dynamics 365 Finance and Operations one version D365FO

Create FA journals in GL (Post fixed asset in G journal names, one per each posting layer 

• Posting layer (on FA group, value model and FA journal) (Current, Operations, Tax)
  • Depreciation for tax purposes is calculated by current tax rules to achieve the highest possible depreciation before taxes, but depreciation for reporting purposes is calculated according to accounting laws and standards.
  • Current is the default layer. This is used for transactions that are part of the periodic financial reporting.
  • Operations is used for other transactions that are part of the periodic financial reporting for internal purposes.
  • Tax is used for transactions that are not part of the external or internal reporting, but that are for recording special tax transactions, such as tax depreciation for fixed assets.

• BOOKS (track the financial value of a fixed asset over time) In D365FO
  • Each Book represents an independent financial life cycle, and each fixed asset can have several value models assigned to it.
  • Before you set up Book, you must set up depreciation profiles to assign to the value model.