Hi Chris,
The next procedure is the one I usually follow:
First of all you need to have the fixed assets in the system. Perhaps you can import these with help of the Data Import/Export Framework. Also you can use this tool to import jounals which will be described below.
You need to decide the conversion date. If the conversion date is at the beginning of a fiscal year the procedure is easier than when you do the conversion during a fiscal year. The assest of last year and before will always be done in the two steps below:
1 Acquision value assets last year and before
You can post the acquisition value of the assets by using a fixed asset memo on the end of the old fiscal year. Think about the offset ledger account. We mostly use a special account for opening balances. E.g. when you start using AX per 1-1-2015, the date for this journal will be 12/31/2014.
2 Depreciation value assets last year and before
Then you can post the depreciation value in a new fixed asset memo at the end of the old fiscal year. Think about the offset ledger account. This will be on the same date as the acquition journal.
If you have a conversion during the year and completed the previous steps, you can do the next steps:
3 Acquision value assets current year
You can post the acquisition value of the assets by using a fixed asset memo on the real historical date or the date before the conversion.
4 Depreciation value assets current year
Then you can post the depreciation value in a new fixed asset memo on the real historical date or the date before the conversion. This memo will also contain the older assest with the value of depreciation in the currrent fiscal year.
In these steps think about the offset ledger account again. You can either use the normal offset account or the opening account.
After you completed these steps print some reports and check all values. Normally you will have your net-book value and all assets know what values are for acquisition and depreciation both for this year and older years
But the last thing you have to do is check all value models of your assets. When posting the acquisition and depreciation memo's the fields like depreciation start date en remaining periods for depreciation are affected!! Set the correct values.
The remaining periods will determine the future depreciations.
