What is the Difference between Class ID and Accounts Group ID in dynamics GP
Accounts Group ID:
Accounts Group ID is used to assign group of accounts to one more Assets.
Class IDs are used to assign some group of values like (Accounts, Department, Tax, master card options values, etc.,,). These values are differ based on the module master records(Item, Customer, Vendor, Employee). But, Account Group ID is used for only Asset Accounts assignment.
Hope this helps!!!
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Somakarpagamoorthy K | Microsoft Dynamics GP Consultant | Dynamics Thoughts
In my opinion, setting your Class IDs up properly is the most important decision you can make when setting up Fixed Assets. Having proper class IDs can make Fixed Assets a set it and forget it module. It's rare that I've seen them set up properly.
The Class ID can house many default values, Account Group ID is one of those values. If your Account Group ID is included in the class, then each asset you add to the class will use those posting accounts. The Account Group ID can also be assigned to assets individually if you don't want to use the class.
I have been using Fixed Assets from before it was acquired by GP and the Class has always been the hardest thing for users to comprehend. I assisted a great deal in creating the Fixed Assets training manual, but I noticed lately that they put something in the discussion about setting up Class IDs that, in my opinion, is wrong. I haven't gotten around to making a fuss over it yet, just haven't had the time. It's a bigger discussion than what I can type in on this forum. If you want to discuss it with me, I'll be glad to offer a little guidance. My phone number is 972-814-8550. The guidance is free, but I can't do the configuration for free. I think once you understand how the classes work it will be smooth sailing for you.
Leslie Vail, CPA, MVP, MCT, MCITP, MCP, MCITSASCI, Inc. * PO Box 600965 * Dallas, TX 75360 * 972-814-8550 * email@example.com
Thx Leslie for the guidance......
Iam reading the above lines written by you again and again to grasp the concept.....
1-setting your Class IDs up properly is the most important decision
2-Class ID can house many default values, Account Group ID is one of those values
3-If your Account Group ID is included in the class, then each asset you add to the class will use those posting accounts
4-Account Group ID can also be assigned to assets individually if you don't want to use the class.
point #4 needs more explanation........
Yes. For point number 4, you can use Account Group ID to set your accounts to Assets if you don't want to use the class...
Can Account group and classes be same...
Suppose our Class is Furniture & Fixture.........
and our Account Group is also Furniture & Fixture
We also assign accounts to accounts group....
You can use the same name for both Account Group and Class ID.
As Soma said, the actual name can be used for both and they will not have anything to do with one another. What I am more concerned about is that you have a class named Furniture & Fixtures. Every asset in this class should have the same depreciation method and period, as well as the same Account Group. If you also keep track of insurance through the Class, each item in the class should have the same insurance policy.
If one fixed asset in the class is 5-year ACRS property, all assets in the class should be 5-year ACRS property. They need not have the same acquisition date, but they should have the exact same life, depreciation method and posting accounts.
i was expecting an answer from your side because each time it gives me some direction to move on...............
yes all the items under Furniture & Fixtures may have different acquisition date but i want to keep their useful life same.............
Also they will have the same posting accounts allocated to this class......
Life is the same, that's good. Posting accounts are the same, that's good. Is the depreciation method also the same?
Yes the depreciation method is also the same for the whole class...I.e.if it is Furniture & Fixture....
depreciation method for the Whole class of Furniture & Fixture is straight line....
Ok, that completes the cycle, you're good !