Mastering Asset Management in Dynamics GP: A Comprehensive Guide

Jan 7


Andrew Karasev

Andrew Karasev

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In the realm of asset management, Dynamics GP stands as a robust tool for organizations to streamline their fixed asset processes. This guide delves into the intricacies of managing fixed assets within Dynamics GP, focusing on the nuances of mass changes, retirements, transfers, and the partial variations of these actions. We'll also explore automation strategies for these procedures, which are typically manual, and provide insights based on Dynamics GP version 2010/11.0. Although the Fixed Assets module has remained largely consistent since version 7.5, newer versions from 9.0 onwards offer enhanced features like a home page, lists, and an advanced navigation pane. Here, we'll offer practical advice and tips for optimizing asset management in large organizations using Dynamics GP.


Navigating Mass Changes in Asset Groups

When managing asset groups in Dynamics GP,Mastering Asset Management in Dynamics GP: A Comprehensive Guide Articles the Mass Change function is a critical tool found in the Financial Transactions Fixed Assets info pane (or Transactions -> Financials -> FA Mass Change in older versions). This feature allows for bulk updates to asset group information, which is particularly useful when new assets have been added since the last group update. It's important to note that Mass Change does not create an audit trail, so if auditing is a priority, Mass Transfer might be a better option. However, Mass Transfer has limitations and cannot reset certain fields like Book, Class, and Book/Class depreciation information, as well as user-defined fields. For comprehensive updates, the FA Import tool can be used to prepare and import text files with the necessary asset information. An effective strategy is to export the group to a text file, make updates in Excel, and then reimport the data.

Understanding Partial Transfers and Retirements

Partial transfers and retirements are actions that apply to individual assets within Dynamics GP. Unlike their mass counterparts, these functions allow for a portion of an asset to be transferred or retired, creating a new asset with an incremented suffix that is immediately processed as transferred or retired. The system can base these partial actions on percentage, quantity, or cost, and will adjust values accordingly to resolve discrepancies. If a partial retirement needs to be reversed, it can be done through Retire Undo (Transactions -> Fixed Assets -> Retire Undo), provided the original asset is active and the retirement occurred in the current fiscal year.

Executing Mass Partial Retire or Transfer

For organizations with a vast number of assets, manually applying partial retirements or transfers can be impractical. In such cases, using a macro technique can be a time-saving solution. By recording a macro for a single partial retirement and then editing it in Excel to apply to multiple assets, you can automate the process. It's crucial to test the macro in a test company environment to ensure accuracy before applying it to live data.

The Art of Backing Out Depreciation

An elegant solution for correcting incorrect depreciation entries in Dynamics GP is the "Depreciate One Item" function found in Financial Routines. By backdating the depreciation, the system prompts a warning that allows for the depreciation to be backed out without deleting the original entries. This ensures that any depreciation interfaced with the General Ledger will be reversed in the subsequent GL posting routine.

Seeking Further Assistance

For additional support or inquiries, organizations can reach out for assistance through various channels, including web sessions, Skype, phone conferences, or direct onsite visits for larger projects. The consulting team offers support in multiple languages, including English, Chinese, Portuguese, Spanish, Russian, and Filipino. Contact can be made at 1-866-304-3265, 1-269-605-4904, or via email at

In conclusion, Dynamics GP provides a comprehensive suite of tools for fixed asset management. By leveraging the capabilities of mass changes, partial transfers, and retirements, as well as utilizing macros for automation, organizations can maintain accurate and efficient asset records. With the right approach and support, Dynamics GP can be a powerful ally in the management of fixed assets.