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Fixed Asset Acquisition via PO

  • 1.  Fixed Asset Acquisition via PO

    Posted Oct 30, 2020 11:27 AM
      |   view attached

    Hi,

    I am testing the process of creating fixed asset via PO. There is a good article on the web which I am following but getting some road block. First let me show the fixed asset parameter screenshot for PO.

    Fixed Asset Parameter Screenshot:

    I created a shell Fixed asset and entered the fixed asset number in the PO. PO created successfully and updated the fixed asset for the PO amount. I ran the FA acquisition proposal and it created the acquisition entry.  When try to post the acquisition entry, getting the error message 'Account number for transaction Type Fixed asset does not exist'(screenshot below). After some trouble shooting, I went to the FA parameter page and changed flag to Yes for 'Allow asset acquisition from purchasing' on the Purchase order box. It allows me to post the entry.

    I don't think user need to go every time on the configuration page and flip the flag. Like to know the solution.

    I have one more question which is listed below.

    Acquisition Entry:

     

     2) Created a shell FA and entered two PO for different amount($2K & $6k) for the same FA(one of the PO screenshot below).  FA correctly updated for $8K. But on the acquisition entry it created two lines for the same asset($2k and $6K) and entry error out and giving message 'Acquisition for fixed asset Test_503, book GL, already exists'.  Looks like there should be only one line for $8K so the entry can be posted(screen shot). Like to know how to fix it.

    PO Screenshot:

    Fixed Asset Screenshot:

     

     Acquisition Entry Screenshot:


    Article link:
    https://www.columbusglobal.com/en-us/blog/how-to-purchase-a-fixed-asset-through-a-po-with-dynamics-365

     

    Thanks.

     



    ------------------------------
    Mohammad Fozail

    ------------------------------

    Attachment(s)

    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 2.  RE: Fixed Asset Acquisition via PO

    GOLD CONTRIBUTOR
    Posted 28 days ago
    Hi Mohammad

    The Acquisition by PO approach is to acquire the asset from posting the PO Invoice, if you are using Fixed Asset journals then you are not using the PO to post the acquisition. If you want to use the journal you need to setup an offset in the posting profile for the Acquisition radio button. If you want to use the PO then this is unnecessary as the offset is just Trade AP.

    As for the multiple PO, there is a parameter that allows for multiple acquisitions for one asset. You have to allow for that in order to post multiple acquisition type transactions, alternative you can use acquisition adjustment for the second an any subsequent purchases.

    Thanks,

    Arush

    ------------------------------
    Arush Kuthiala
    Western Computer
    Toronto ON
    ------------------------------

    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 3.  RE: Fixed Asset Acquisition via PO

    Posted 27 days ago
    Hi Arush,

    Thanks for providing feedback.  We are running the acquisition proposal process after the PO, not directly posting acquisition entry via PO. Your suggestion 'Allow multiple acquisition' flag to 'Yes' works and I was able to post the entry. But in order to post the entry, I also have to change the 'Allow asset acquisition from purchasing' to 'Yes'.  It was set to 'No' all along and only time I had to change to 'Yes' when the acquisition entry error out and then I changed to 'Yes' to post the entry(both screenshots attached). Any suggestions?

    Thanks.




    ------------------------------
    Mohammad Fozail

    ------------------------------

    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 4.  RE: Fixed Asset Acquisition via PO

    GOLD CONTRIBUTOR
    Posted 25 days ago
    Hi Mohammad

    That parameter is required if you are invoicing a PO for asset acquisition. Your first screenshot is a journal, that one has no bearing on the parameter, it will post regardless of the parameter.

    Thanks,

    ------------------------------
    Arush Kuthiala
    Western Computer
    Toronto ON
    ------------------------------

    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 5.  RE: Fixed Asset Acquisition via PO

    Posted 24 days ago
    Thanks Arush for getting back to me.  When I created the PO for the asset, 'Allow asset acquisition from Purchase Order' flag was set to 'No'. We wanted to flag to be 'No' as PO comes in different accounting period. Once all the PO are received, the asset get updated for all the PO and then run the asset acquisition proposal and it creates the entry. When I try to post, then I got the error and flip the flag 'Allow asset acquisition from Purchase Order' to 'Yes' in order to post. Process work perfectly fine until the very last step of  when the acquisition entry is not posting.

    If 'Allow asset acquisition from Purchase Order'  flag is set to 'Yes' from the very beginning then asset status changed to 'Open' as soon as the first PO invoice entry is posted. And if the depreciation runs, it will pick up this partial asset and there are still PO in the pipeline for this particular asset. We want asset to start depreciating with the full asset amount.

    Regards,
    Mohammad


    ------------------------------
    Mohammad Fozail

    ------------------------------

    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 6.  RE: Fixed Asset Acquisition via PO

    GOLD CONTRIBUTOR
    Posted 24 days ago
    Hi Mohammad

    As to your first paragraph, I can't understand why that would be the case as the journal and that parameter have no bearing on each other. Sorry about that.

    As to your second paragraph, what one of my clients did was enter a Placed in Service date on the Fixed Asset book well into the future, this way you can continue to accumulate cost on the Asset without depreciation starting. Once all POs are complete, change the Placed in Service Date to the first day you want to start depreciation.

    Thanks,

    ------------------------------
    Arush Kuthiala
    Western Computer
    Toronto ON
    ------------------------------

    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 7.  RE: Fixed Asset Acquisition via PO

    Posted 24 days ago
    Thanks, Arush. Seems like some kind of bug in our test environment which is not allowing to post the acquisition entry. I will try some other test environment. Like the suggestion to place the service date in future and accumulate cost until start of the depreciation. I will test it. Thanks again for all your feed back.

    ------------------------------
    Mohammad Fozail

    ------------------------------

    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


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