How to: Register Opening Entries

If you are using the fixed assets in Microsoft Dynamics NAV for the first time, you must set up the general ledger application area before you set up fixed assets. How you do this depends on whether fixed assets is integrated with general ledger.

The following procedure is used if fixed asset transactions are to be posted to the general ledger.

To register opening entries

1. Make sure that you have completed the basic setup procedures for fixed assets.

2. Create a fixed asset card for each existing asset.

3. Set up fixed asset depreciation books.

4. Enable general ledger integration. In the Search box, enter Depreciation Books, and then choose the related link.

5. Select the relevant depreciation book. On the Home tab, in the Manage group, choose Edit to open the Depreciation Book Card window.

6. On the Integration FastTab, make sure all fields are blank by clearing all check marks. If you have more than one depreciation book, turn on general ledger integration for each one

7. In the FA journal, enter the following lines for each asset:

   • A line with the acquisition cost.

   • A line with the accumulated depreciation to the end of the previous fiscal year.

   • A line with the accumulated depreciation from the start of the current fiscal year to the date that Microsoft Dynamics NAV is set to start calculating the depreciation.

   If you have other opening balances you can also enter them now, such as write-down and appreciation.

8. After you have entered and posted the journal lines for each asset, turn on general ledger integration.

If the fixed assets are not integrated with the general ledger, skip steps 4 and 8.

See Also

Tasks

How to: Create Fixed Assets
How to: Set Up General Default Values for Fixed Assets
How to: Set Up Fixed Asset Depreciation Books Manually
How to: Set Up Fixed Asset Depreciation Books Automatically
How to: Fill In and Post Fixed Asset General Ledger Journals
How to: Fill In and Post Fixed Asset Journals