A closer look: Fixed asset book status

Hello there D.M.-azing D365 Community!

I hope we are all enjoying our free time. And to make it more valuable but still a relaxing one, let us have a simple knowledge sharing about the Book/s status of a Fixed asset in Dynamics 365 Finance.

I noticed that Fixed asset book status does not take much of the attention or discussion especially after a Fixed asset has been acquired, that is the reason why I am taking this chance for us to take a closer look of what are the other status that a Fixed asset book have and what do they mean.

And might be, we can be curious why the FA book status is available for editing.

In D365, we have six (6) available Status for a Fixed asset book, namely:

1. Not yet acquired -> when a Fixed asset was manually created, the initial status of the book/s assigned to it is Not yet acquired. This is the state where a Fixed asset is not available for any transaction except for the Acquisition process.

2. Open -> Fixed asset for a specific book is already acquired.

3. Suspended -> the fixed asset is not available for posting fixed asset transactions and cannot be selected in journals.

This status should be manually selected.

4. Closed -> the net book value of the fixed asset is already zero due to posting the last depreciation.

5. Sold -> the fixed asset has been disposed of thru sale.

6. Scrapped -> the fixed asset has been disposed of thru scrapping.

Going back to the statement we have earlier.
Why the Fixed asset book status is available for manual editing?
And here are some points I can provide.

1. The fixed asset has been fully depreciated (i.e., Book status = Closed), but a transaction needs to be corrected. Before we can proceed in correcting a transaction for a Fixed asset book with Closed status the Status should be manually reverted to Open.

2. When we need to pause or to temporarily not to use the Fixed asset, we can manually change the Fixed asset book status.

That’s it for now. I hope that you find this article as a helpful tool for you to better appreciate and understand, everything and anything, about Microsoft Dynamics 365 for Finance and Operations.

It will truly be a privilege if you will allow me to know your thoughts and suggestions for me to further improve the coming featured articles on our blog. ‘Til next time!

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