1. Fixed Assets Ian Richardson CGA Cale Tanguay CGA

2. Fixed Assets Are you tracking your fixed assets in a spreadsheet? Do you wish you could go into a room and know which assets are there? Is your depreciation / amortization journal entry a tedious monthly, quarterly, or annual process? Come to Fixed Assets to find out how you too can track fixed assets in Great Plains. In this session we will show the link between purchase order and fixed assets, accounts payable and fixed assets, and how to maintain asset records.

3. Agenda

4. Setup -Depreciation Books -Fixed asset calendars -Auto generate asset ID numbers -Asset defaults from asset classes

5. Book Setup. - You can have as many asset books as you want to set up. - If your depreciation method is different for accounting and taxation you can keep track of both books. - After depreciation has been run the current fiscal year in the book setup is locked down.

6. Calendars Use the Fixed Assets Calendar Setup window to create multiple calendars in Fixed Asset Management. When you create a calendar, you can base the calendar on the Fiscal Period Setup window, the calendar year, or an existing calendar year. You also can create quarters for all of the years.

7. Calendars Mark the Short / Long Year check box if your year is shorter or longer than a twelve month period. Indicate what percentage of depreciation should be taken for this shorter or longer year.

8. Auto Generate Next Asset ID You can set default values that will automatically increment when a new asset is entered

9. Defaults Quickly assign defaults from asset classes

10. Fixed Asset Clearing The fixed asset clearing account will identify new assets within fixed assets that come from the accounts payable module.

11. New Assets -Purchase Order link to fixed assets -Accounts Payable link to fixed assets

12. Purchase Order -Mark the capital item check box on the purchasing item detail entry window to allow fixed assets to automatically add the new asset to fixed assets when you receive the purchase order

13. Receipt add detail -As you receive your capital item you can complete the fixed asset class and other asset information

14. Add new asset -In the asset general information you can now pick up the received asset

15. Accounts Payable -If you are not using purchase orders use the fixed asset clearing account in accounts payable to identify an accounts payable invoice as a fixed asset.

16. Add New Assets -After posting the accounts payable invoice the asset is now available in fixed assets.

17. Demo My beautiful new computer

18. Fixed Asset Depreciation and Reporting -Depreciation Report -Depreciation Forecast -Where are my assets – smartlist -Continuity

19. Depreciation -Depreciate one or more asset books -Depreciate asset groups or all assets -Reverse depreciation against asset groups or all assets -Set the depreciation target date -This date cannot be later than the last day of the current fiscal year in the book set up window

20. Depreciation Reports -Depreciation reports can print as of specific periods of time

21. Depreciation Forecast Depreciation Projection -First run the depreciation projection

22. Forecast Report Depreciation Projection -Then the projection report

23. Demo

24. Where Are My Assets -Make use of physical location ID’s to know exactly where your fixed assets are

25. Where Are My Assets -Make use of GP reporting tools such as smart list

26. Demo

27. Continuity Report Activity Reports can be used to produce a continuity report

28. Demo

29. Posting -Posting to the general ledger

30. Post in Batches -Review and edit transactions in a batch before posting. -Includes options for filtering. -You can print an edit listing prior to posting.

31. Posting Options -Option to allow posting in detail to the General Ledger

32. Demo

33. Conclusion

34. Questions? Slides will be available at http://www.prophet.ca/user-group-2014-presentations/ Password: UserGroup2014