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Fixed Asset Module - Assets Under Construction

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Posted on by Archana75

Here is my current sition

- We provide professional services

- Develop intangible products for internal use only, costs currently tracked in excel

- Fixed Asset module is currently used for external purchases only

Looking to move it to the Fixed Asset Module in GP and also integrate the future costs to now flow from a third party workforce management tool.

Not all of the current products are released and amortization initiated.

Question 1: How do I import costs of products that are still under development, meaning, amortization hasn't been initiated on these products? These wouldn't have "Place in Service date", "Depreicated to Date" which are mandatory fields in the import format.

I saw a post of creating a separate CIP asset class. Is this feasible with the import format? If I do that, how can i still track all the under-construction products separately within the CIP?

Question 2: Vision is to have all labor costs to flow from third party workforce management tool, which would include costs for both released & non-released products. Whats the best and least manual way to integrate those costs as well as manage under construction projects?

Thanks!

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Microsoft Dynamics GP

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Josh Page Microsoft Employee on at

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I need to setup a test but I think what you could do if you have Econnect is the below. There's no rule that all assets have to have a book so you can actually wait to create the asset\book record until the asset is ready to begin depreciating.

1) Create the Asset ID with Econnect. (taCreateAssetID)
2) Keep on updating the Asset with (taCreateAssetPurchase)

3) Soon as You have integrated in the last cost adjustment to the asset, you can then integrate in the book so the asset can start depreciating (taCreateAssetBook).

In core GP one asset can have multiple purchasing records, however I need to test with eConnect if the adapter will allow you to import multiple purchasing records to an asset (and ensure that it updates acquisition cost correctly) on the asset general. The other item I need to test is if Econnect will auto add the book or not (I'm not certain).

Is Econnect available in your environment? I'll test this out and let you know if it works on my side.

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Archana75 5 on at

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Dont have Econnect..I think its costs to get it.

There's no rule that all assets have to have a book so you can actually wait to create the asset\book record until the asset is ready to begin depreciating - Where would I keep track of CIP projects then? Want to avoid using excel spreadsheets.

Was thinking of a way around on the default fields - "Place in Service date", "Depreicated to Date" - Can we put a future date and change the date when its time to start depreciating?

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Archana75 5 on at

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Hi Josh,

Had a follow up question. How would I translate these migrating entries as Accounting entries to show as a sample to my team?

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