The Fixed Assets module within Microsoft Dynamics AX ERP software enables easy set-up, maintenance, and tracking of valuation of fixed assets such as buildings, land, vehicles, and equipment. The Fixed Assets module in the ERP solution integrates with Accounts Payable, Inventory Management, and General Ledger allowing for multiple methods of input of assets. Employ different depreciation methods and conventions to track multiple valuations for the same fixed asset. Workflow and budget controls can be set to ensure accuracy and monitoring of procedures. A thorough audit trail is maintained between fixed asset transactions and corresponding General Ledger entries.
Microsoft Dynamics AX offers multiple ways to record acquisitions of fixed assets: Acquisitions can be recorded when recording vendor invoices, in a vendor invoice journal, a general journal, or in a fixed asset journal. Depreciation proposals, adjustments, and revaluations can also be recorded in a fixed asset journal. Flexible forecasting allows the forecast of fixed asset acquisitions and depreciations to be recorded in a fixed asset budget journal entry, which can then update the ledger budget register.
Other functionalities of the Fixed Asset module in Microsoft Dynamics AX enterprise resource planning solution include the following: