Umair Hassan

Create asset master records and attach value models In value model window: General Tab, enter opening date of opening balances in Acquisition date and specify Acquisition price. For example if you're posting your opening balance as of 31/12/2015 , then use the same date in Acquisition date , and use the actual purchase price as Acquisition Cost/Price in value model window. Depreciation tab, check mark the Depreciation , specify the asset' total depreciation periods , and actual purchase date in Place in service field. Depreciation convention is also depreciation sensitive field. Chose the option carefully. Enter acquisition proposal and post. Make sure the date must be opening date of balances. Enter depreciation proposal and post. Make sure the accumulated depreciation is calculated correctly as per the fixed asset register provided by client. [NOTE: You may need to reverse the JVs, if opening balances are alrea...

Vendor Prepayment Functionality in Microsoft Dynamics AX 2012 Prepayments are a common business practice, with organizations issuing prepayments to vendors for goods or services before those goods or services are fulfilled. To minimize risk, you can track prepayments by defining the prepayment on a purchase order. Vendors can also create a prepayment invoice that is associated with a purchase order. New prepayment functionality is available in  Microsoft Dynamics AX 2012 , making it easier for organizations to complete, manage and track prepayments to vendors. There are five steps involved with processing a prepayment for a purchase order, which include the following: 1.     Create the purchase order. 2.     Set up the prepayment. 3.     Post the prepayment. 4.     Make a payment. 5.     Settle the payment against the final invoice. Create the Purchase Order The first step toward...