Situations often arise in business where fixed assets need maintenance like a car needs an oil change or a lamp needs a new bulb. These additions are not necessarily tracked as individual fixed assets but are tagged to the existing fixed asset (FA) and may or may not increase the life span of the parent FA. Read on for details around Dynamics AX fixed assets additions.
It also becomes necessary to have reporting based on those additions. It's possible the fixed asset has a disadvantage of being a high maintenance asset which could impact production, operations and general ledger in the future. With Dynamics AX 2012 R3, these impacts can be minimized with the Fixed Asset additions functionality (image 1).
The Fixed Asset additions functionality provides options to clearly document the number of additions tagged to a particular FA including number of units, cost, and more.
However, the most interesting feature of this functionality is the ability to choose whether to increase the life span of a FA or not by the checking or unchecking the "Increase Service life" check box. There is also an option to associate a purchase order, vendor invoice, or both with the additions, which allows tracing and justifying the expenditure. The only drawback to this functionality is that it is not possible to link additions directly from a PO or vendor invoice to a FA. This means that an addition would need a separate PO or invoice, and then could be associated with the FA manually in the FA module.
Reporting for the fixed asset additions can be done easily by navigating to the Reports in FA module "fixed assets additions"
These steps around Dynamics AX fixed assets additions should allow you to achieve a sleek and robust fixed asset functionality for better management of your operations and assets.
Learn more about Microsoft Dynamics AX to discover more technologies to enhance your business processes.
