How to migrate Low Value Pool asset to AX

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Hi,

One of our clients in Australia has acquired a new company. The company has a number of low value assets which have been pooled to a single LVP asset. The net book value of the LVP asset is $44,000. Client needs some advice on the process to migrate the LVP asset in to AX. I don't have much experience with LVP so any expert advice would be highly appreciated.

Thank you.

Sarita

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Ludwig Reinhard Microsoft Employee on at

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Hello Sarita,

I am not a specialist in the Australian LVP asset functionality but we use something similiar in my home country.

To migrate the LVP asset, we create a single 'LVP" fixed asset for each year (e.g. LVP2015, LVP2016, LVP2017, ...) where post the remaining NBV and then depreciate it over the periods remaining from the 5 years depreciation period specified by the government.

EX: If we migrate the LVP2017 fixed asset we would transfer $44000 and enter 4 years in the remaining lifetime.

I am not sure how this works exactly in Australia and would thus recommend that you have a talk with the key users and/or Australian AX/tax experts.

Best regards,

Ludwig

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