GoalKnow the words used in this course and the three stages of fixed assets.
Stages
| Stage | What you do | When |
|---|---|---|
| Setup | Decide the rules: depreciation books, posting groups, journals, classes, insurance and maintenance codes. | Once, before go-live. Change rarely. |
| Master data | Create the asset records: the asset card, its depreciation book, main assets, insurance policies, opening balances. | Each time the company gets a new asset. |
| Transactions | Post what happens to the asset: buy, depreciate, write down, revalue, move, maintain, sell or scrap. | Every month and at each event. |
Key words
| Word | Meaning |
|---|---|
| FA | Fixed asset: something the company owns and uses for more than a year. |
| G/L | General ledger: the company accounts. |
| Depreciation book | A set of rules for how an asset loses value. A company can have one book for accounts and another for tax. Only a book with G/L integration posts to the general ledger. |
| Depreciation method | How the yearly loss in value is worked out, for example Straight-line or Declining-Balance 1. |
| FA posting group | Links an asset to G/L accounts: where cost, depreciation, write-downs, appreciation and disposals post. |
| FA G/L journal | A journal that posts to the asset and to the G/L at the same time. |
| Fixed asset journal | A journal that posts only to the asset. Use it for books without G/L integration. |
| Book value | What the asset is worth in a book: cost minus depreciation, plus or minus any revaluation. |
| Write-down | A one-off drop in the asset value, for example after damage. |
| Appreciation | A one-off rise in the asset value. Business Central posts it with FA posting type Revaluation. |
| Indexation | A rise or fall of many values by a percentage, for example for price changes. Done with the Index Fixed Assets batch job. |
| Disposal | Selling, scrapping or writing off an asset. Business Central works out the gain or loss. |
| Main asset and component | A main asset groups other assets (components), for example a truck and its crane. |
| MB-800 | The Microsoft Business Central Functional Consultant exam. Lessons marked MB-800 cover skills in that exam. |
How each lesson works
- Learn the idea from the lesson text.
- Train with the Microsoft Learn module. It has the detail and a guided exercise. Sign in to Microsoft Learn to save your progress there.
- Read the Microsoft documentation when you need more.
- Do the exercise in your practice company.
- Check your answers, then choose Mark as complete.