(ITA) Post extraordinary depreciation for a fixed asset and generate the Fixed asset book report [AX 2012]

Updated: June 1, 2011

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

You can use the Fixed asset journal to post extraordinary depreciation for eligible fixed assets. After posting the extraordinary depreciation, you can generate the Fixed asset book report to view the details.

Extraordinary depreciation functions in the same way as basic depreciation, but can be posted and reported independently. To maintain extraordinary depreciation as a separate transaction type, you must specify a ledger account when you credit the depreciation amount to the balance sheet. You must also charge the depreciation as expenditure to an offset account.

First, create an extraordinary depreciation profile to set up the extraordinary depreciation method. Next, set up the extraordinary depreciation book and ledger accounts.

  1. Click Fixed assets > Setup > Fixed asset groups.

  2. Press CTRL+N to create a new line. For more information, see Set up fixed asset groups and Fixed asset groups (form).

  3. In the Fixed asset group field, enter the unique code for the fixed asset group.

  4. In the Name field, enter the description of the fixed asset group.

  5. On the General tab, in the Type field, select the fixed asset type.

  6. Close the form to save your changes.

  1. Click Fixed assets > Setup > Fixed asset posting profiles.

  2. Press CTRL+N to create a new line. For more information, see Set up fixed asset posting profiles.

  3. In the Posting profile field, enter the posting profile that links a fixed asset transaction with a ledger account when you post the fixed asset transaction.

  4. In the Description field, enter the description of the posting profile.

  5. On the Ledger accounts tab, under the Select field group, select Extraordinary depreciation.

  6. Click the right pane and press CTRL+N to create a new line.

  7. In the Value model field, select a value model for posting fixed asset transactions.

  8. In the Main account field, select a ledger account number for posting the transactions.

  9. In the Offset account field, select an offset account for the transaction.

  10. Close the form to save your changes.

  1. Click Fixed assets > Setup > Depreciation > Depreciation profiles.

  2. Press CTRL+N to create a new line. For more information, see About manual depreciation, Create a depreciation profile, and Depreciation profiles (form).

  3. In the Depreciation profile field, enter the unique code for the extraordinary depreciation profile.

  4. In the Name field, enter the description of the profile.

  5. In the Method field, select Manual.

  6. Click Manual schedules to open the Fixed asset depreciation profile schedules form.

  7. Press CTRL+N to create a new line.

  8. In the Interval number field, enter the number of the depreciation interval.

    NoteNote

    The interval number refers to the individual depreciation period, which could be yearly, quarterly, monthly, or half-yearly. For example, if your depreciation period is quarterly, enter 1 to represent the first depreciation period, or quarter. Enter 4 for the fourth depreciation period, or fourth quarter.

  9. In the Percentage field, enter the depreciation percentage to be applied for the selected depreciation period. The sum of the percentages entered in the Percentage field is displayed in the Cumulative percentage field.

  10. Close the Fixed asset depreciation profile schedules form and the Depreciation profiles form to save your changes.

  1. Click Fixed assets > Journals > Depreciation book journal.

  2. Press CTRL+N to create a new line. For more information, see Depreciation books setup (form).

  3. In the Depreciation book field, enter the unique identification for the extraordinary depreciation book.

  4. In the Description field, enter the description of the book.

  5. On the General FastTab, select the Depreciation check box to indicate that the asset can be depreciated.

  6. In the Depreciation profile field, select the depreciation profile.

  7. In the Extraordinary depreciation profile field, select the extraordinary depreciation profile.

  8. In the Calendar field, select the fixed asset calendar for the depreciation book.

  9. Close the form to save your changes.

  1. Click Fixed assets > Setup > Value models.

  2. Press CTRL+N to create a new line. For more information, see Set up value models.

  3. In the Value model field, enter the unique code for the value model.

  4. In the Description field, enter the description of the value model.

  5. On the General FastTab, select the Depreciation check box to indicate that the asset can be depreciated.

  6. In the Extraordinary depreciation profile field, select an extraordinary depreciation profile.

  7. In the Posting layer field, select Current.

  8. Click Fixed asset groups to open the Fixed asset group/value model form.

  9. Press CTRL+N to create a new line.

  10. In the Fixed asset group field, select the fixed asset group to be associated with the value model.

  11. In the Service life field, enter the life of the fixed asset in years.

  12. Close the Fixed asset group/value model form and the Value models form to save your changes.

  1. Click Fixed assets > Common > Fixed assets > Fixed assets.

  2. In the New group, click Fixed asset to open the Fixed assets form. For more information, see Fixed assets (form).

  3. Press CTRL+N to create a fixed asset.

  4. On the General FastTab, in the Fixed asset group field, select the group for the fixed asset.

  5. In the Fixed asset number field, enter the unique code for the fixed asset.

  6. In the Name field, enter the name of the fixed asset.

  7. In the Type field, select the fixed asset type.

  8. Close the form to save your changes.

  1. Click Accounts payable > Journals > Invoices > Invoice journal.

  2. Press CTRL+N to create a new line.

  3. In the Name field, select the journal name. For more information, see Journal header (form).

  4. Click Lines to open the Journal voucher form.

  5. In the Date field, enter the posting date.

  6. In the Account type field, select Vendor.

  7. In the Account field, select the account number of the vendor who supplied the fixed asset.

  8. In the Invoice field, enter the invoice number.

  9. In the Credit field, enter the acquisition cost.

  10. In the Offset account type field, select Fixed assets.

  11. In the Offset account field, select the number of the fixed asset.

  12. Click Validate > Validate to validate the journal.

  13. Click Post > Post to post the journal.

  14. Close the Journal voucher form and the Journal form to save your changes.

  1. Click Fixed assets > Journals > Fixed assets.

  2. Press CTRL+N to create a new line.

  3. In the Name field, select the journal name. For more information, see Journal header (form).

  4. Click Lines to open the Journal voucher form.

  5. Click Proposals > Extraordinary depreciation proposal to open the Extraordinary depreciation proposal form.

  6. In the To date field, enter the ending date of the depreciation period.

  7. Click Select to specify the fixed asset number, fixed asset group, and value model.

  8. Click OK. Extraordinary depreciation is calculated for the specified fixed asset number and displayed in the Journal voucher form.

  9. Click Validate > Validate to validate the journal.

  10. Click Post > Post to post the journal.

  11. Close the forms to save your changes.

  12. Click Fixed assets > Reports > Transactions > Italian fixed asset book. For more information, see (ITA) Fixed asset book report (AssetDepreciationLedger_IT).

  13. In the Start date and End date fields, select the starting and ending date of the transaction period.

  14. Select the Detailed print check box to include detailed information about the asset books.

  15. Click OK to generate the report. The percentage and amount of extraordinary depreciation for the previous year are displayed in the Percent extraordinary depreciation and Accumulated Extraordinary Depreciation columns of the report.


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