Organizations might face multiple challenges when tracking location, quantity, condition, maintenance, and depreciation of their fixed assets. Using Microsoft Dynamics 365 Business Central fixed assets module; an organization can ensure correct process automation, easy tracking of fixed assets and depreciation, record maintenance costs, and more in a single environment.
Today I am going to briefly display the three ways Microsoft Dynamics 365 Business Central can help you manage your fixed assets quickly and efficiently.
1. Tracking Fixed Assets
Tracking a large number of fixed assets can be exhausting, especially if you are starting a business where such fixed assets need different maintenance conditions or need to be attached to different locations.
With Microsoft Dynamics 365 Business Central, you can easily track them by setting up a card with specific information for each fixed asset. Here you can specify what kind of asset it is, set up buildings or production equipment like a main asset with several components to be grouped in different ways. You can identify them by grouping them by class, department, location, and more. For each fixed asset, you must set up a card containing information about the asset. You can set up buildings or production equipment as the main asset with a component list, and you can group them in various ways, such as class, department, or location:
In the identification card of the fixed asset, you can also state budgeted assets and anticipate new acquisitions and sales.
2. Tracking depreciation
In Microsoft Dynamics 365 Business Central, you can create depreciation books for each fixed asset within your company. This is performed by running an automatic report to calculate periodic depreciation; then it is filled in the journal ready to be posted. Microsoft Dynamics 365 Business Central can calculate depreciation in various ways, and set many depreciation books for each fixed asset for taxation, internal reporting, and any other operation you may need. All is stated in the fixed asset card:
3. Record Maintenance costs
Maintenance and insurance costs can be easily tracked with Microsoft Dynamics 365 Business Central. For every asset, the maintenance costs and service dates can be recorded and managed. The solution facilitates the management of expenses in accordance with your budget and additionally helps you to identify when a fixed asset must be replaced. The assets can be linked to one or more insurance policies. This helps you verify policy amounts are accurate while monitoring annual insurance premiums:
To Sum up, Microsoft Dynamics 365 Business Central is a capable solution that will help you track several fixed assets and manage every aspect regarding such in a single environment. Designed to be easy to use, you will not have to struggle about understanding the platform’s insights and calculations.
Thank you for reading this blog! I hope it helps you see how Microsoft Dynamics 365 Business Central can provide simpler processes to manage all fixed assets.