Step3# Acquire a fixed asset through fixed asset journal:

There are multiple ways to acquire fixed asset in Microsoft dynamics 365 finance and operations.

Some of examples are listed below.

1-From fixed asset journal

2-From Fixed asset Acquisition Proposal

2-From (purchase requisition) PR

3-From (Purchase Order) PO

4- From (Purchase Order) PO Invoice

5- From Non-PO Invoice etc.

Let’s us learn about fixed asset journal acquisition:

Note: fixed asset record should have been created manually before creating fixed asset journal.

Creation of asset does not have any impact on GL until we begin with acquiring and asset follows the cycle where we cannot depreciate the asset if not followed the acquisition method in system.

Scenerio1: Acquiring as Executive desk account number” FURN_FIX-000005” which for 110.00.

Journal entry: This will post debit amount to asset 110.00 using an credit to offset account.

As primary book 150_SLLR also has derived boon for Tax defined so posting will reflect in same that can be seen from voucher post transaction.

Lab:

1. Go to Fixed assets > Journal entries > Fixed assets journal.
2. Click New.
3. Select the journal type that needs to be used for
4. In the list, from selected row.
5. Click Lines.
6. Verify posting date, journal type and other fields.
7. In the Account field, specify the Fixed Asset number to be acquired.
8. In the Debit field, enter amount.
9. Verify that offset account is defined.
10. Click Financial dimensions>Account and verify the dimension.
11. Click OK.
12. Click Validate.
13. Click Simulate posting.
14. Click Post.
15. Click Voucher to see the accounting entries.
16. Go to Fixed Asset>inquiries and reports>fixed asset transactions to see all transactions.