Setting up Fixed Assets
To integrate TimeTrack with the Microsoft Dynamics GP Fixed Asset Management module, you must have Job Cost and the Microsoft Dynamics GP Fixed Asset Management module installed and registered. Additionally, the Integrate to Fixed Asset Management checkbox must be marked on the TimeTrack Setup Options window.
Step 1: Link Asset to a Job in Job Cost
You must link a fixed asset to a job in Job Cost using the Job User-Defined window. The asset ID links the TimeTrack transaction to the job and the cost code defined for the job.
Refer to the Job Cost User Manual for complete instructions on setting up a job.
- Select Cards > Job Cost > Job.
- Select a Job Number. This could be a job you created specifically for fixed assets.
- Select User-Defined. The Job User-Defined window opens.
- Select an Asset ID.
- Make additional changes, if necessary, and select Save.
- Complete the Job Maintenance window, and select Save.
- To add cost codes to the asset job, select the Cost Codes button in the Job Maintenance window. The Job Cost Codes Setup window opens. All cost codes used as fixed asset transaction offsets must be set up on this window.
- To add an existing cost code to the asset, use the Add Cost Codes button to select a cost code. Complete the remaining fields.
- To add a new cost code to the asset, complete the window to create the new cost code.
- Select Save.
Step 2: Select Fixed Asset Option
On the Fixed Asset Options window, you select whether to use a default cost code or a default GL offset account as the fixed asset transaction offset. After you select one of the options, you must enter the default cost code or the default GL offset account. You must select an option for each division. You cannot save a fixed asset transaction if the division of the asset job is not set up in this window.
- Select Microsoft Dynamics GP > Tools > Setup > TimeTrack >Fixed Asset Setup.
- Enter the division you will charge the fixed asset transaction offset to.
Select an option. To use an asset in TimeTrack, the asset's suffix ID must be set to "1" in the Fixed Asset Management module. Use the lookup in the Asset ID field on the Asset General Information window (Cards > Fixed Assets > General) to display the asset ID and suffix ID.
Option 1 - Use the default cost code as the fixed asset transaction offset
Select this option if you want to use a default cost code as the fixed asset transaction offset. If the job number entered in TimeTrack contains a division set up as with Option2, the credit goes to the GL account assigned to that division, not to the asset job default cost code. If the job number entered in TimeTrack contains a division set up as Option 1, the credit is charged to the offset account for the division of the asset job number. When you enter an Asset-JC transaction in the Time Card Entry window, the debit will be charged to the job number selected in the Time Card Entry window. The credit will be charged to the offset account for the division of the asset job number. When you enter a Fixed Asset-General Ledger (FA-GL) transaction in the Time Card Entry window, the debit will be charged to the GL account selected in that window. The credit will be charged to the offset account for the division of the asset job number.
If you are entering FA-GL transactions, you must select Option 1. If you are entering Asset-JC transactions, you can select either option.- Option 2 - Use a default GL offset account as the fixed asset transaction offset
Select this option if you want to use a default GL offset account as the fixed asset transaction offset. The Default GL Offset Account setup in the Fixed Asset Options window is the account that will receive the credit, and NO asset job will be credited. When you enter an Asset-JC transaction in the Time Card Entry window, the debit will be charged to the job number selected in that window. If the job number entered in TimeTrack contains a division set up as Option 2, the credit goes to the Default GL Offset Account assigned to that division in the Fixed Asset Options window. The credit DOES NOT go to the asset job default cost code (see Option1). If you want the credit to be captured on the asset job, both the division of the asset job and the job number (debit job) entered in TimeTrack must have its division set as Option 1 in the Fixed Asset Options window
- Enter a default cost code or a default GL offset account. If you selected Option 1, enter the cost code to credit fixed asset charges. If you selected Option 2, enter the GL offset account to credit the fixed asset charges.
- Select Save.
- To print all selections by division, select Print.
Step 3: Set up Cost Recovery Rate
The cost recovery rate is the hourly rate charged to the job for use of an asset. The recovery rate is used to calculate the cost for a fixed asset transaction in the Time Card Entry window.
- Select Microsoft Dynamics GP > Tools > Setup > TimeTrack > Fixed Asset Cost Recovery Rate.
- Enter the Asset ID.
- In the Cost Recovery Rate field, enter a dollar amount to apply to each unit for the use of an asset.
- Select Save.
- To print a list of all assets that have cost recovery rates assigned, select File > Print.