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our Company transfers its accounting to D365 starting from 1 of January 2022. However, we have a lot of fixed assets acquired in previous years (2019, 2020, 2021), and we need to add them into D365 with the proper acquisition costs, acquisition date, the start of depreciation date (previous years), for tax and IFRS purposes.
What is the best and fastest way to do this? We need to have all this data in our system.
Thanks for your fast response and happy holidays!
Please look at this :
Hi QuestionJ,
The procedure from Magno should help you. Note that I always use 2 additional steps:
5. Check and correct remaining number of periods and last depreciation date on the value model/asset book. It is recommended to check all current values.
6. Perform a trial depreciation for the first new month in a test environment. Check if the depreciation amounts are as per your expectations.
Hey,
You should post the fixed asset balances in two steps, one for acquisition and other for depreciation. It should be posted throught fixed asset journal.
1. Data Management to update the Fixed assets information, Fixed asset books (Tax, IFRS, etc.).
2. Posting profiles should be assigned to the opening balance.
3. Execute a fixed assets acquisition proposal. (Dr. Fixed assets accounts, Cr. Migration account)
4. Execute a fixed assets depreciation proposal. (Dr. Migration account, Cr. Accumulated depreciation)
Kind Regards,
Magno Pereira | Finance Functional Consultant
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