About main accounts for fixed assets [AX 2012]

Updated: October 17, 2012

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

Before you can specify main accounts for the fixed asset transaction types in the Fixed asset posting profiles form, you must set up these main accounts in the Main accounts - chart of accounts: %1 form. Only accounts that have a main account type of Balance sheet or Profit and loss must be set up.

  • Balance sheet accounts are where the value and value adjustments of fixed assets are posted.

  • Profit and loss accounts are where depreciation, value adjustments, and profits and losses on fixed asset disposals are posted.

Because countries/regions have different accounting standards and requirements, the specific setup of these accounts differs greatly. Even the fixed asset accounts of subsidiaries in the same country/region and within one organization can differ because of internal accounting policies and various demands for detail in ledger information.

In addition to setting up the main accounts that are used in the Fixed asset posting profiles form, you might have to set up an account for posting the Provision for reserve and Transfer from reserve provision types.

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