Raju's Dynamics AX / Dynamics 365 Finance and Operations Blog

Here are 20 lab scenarios to practice the Fixed Asset module in Microsoft Dynamics 365 for Finance and Operations (D365FO). Each scenario comes with step-by-step instructions:

Lab Scenario 1: Creating a Fixed Asset

1. Go to “Fixed Assets” in the D365FO navigation menu.
2. Click “New” to create a new fixed asset.
3. Fill in details such as asset number, asset group, description, and acquisition date.
4. Enter cost details, depreciation method, and useful life.
5. Save the fixed asset record.

Lab Scenario 2: Acquiring a Fixed Asset

1. Select an existing fixed asset from the list.
2. Click “Acquisition” to add an acquisition transaction.
3. Choose the acquisition type (e.g., purchase) and enter acquisition details (e.g., invoice number and date).
4. Enter the acquisition cost and posting details.
5. Save the acquisition transaction.

Lab Scenario 3: Depreciating a Fixed Asset

1. Open an existing fixed asset.
2. Click “Depreciation” to access depreciation transactions.
3. Select the appropriate depreciation method.
4. Calculate and post depreciation for a specific period.
5. Verify the updated asset value and depreciation amount.

Lab Scenario 4: Performing Asset Transfers

1. Choose a fixed asset to transfer.
2. Click “Transfer” to initiate an asset transfer.
3. Specify the new location or department for the asset.
4. Complete the transfer transaction and update the asset’s location.

Lab Scenario 5: Disposing of a Fixed Asset

1. Select a fixed asset you want to dispose of.
2. Click “Disposal” to start the disposal process.
3. Choose the disposal method (e.g., sale, scrapping).
4. Enter disposal details, such as sale price or scrapping date.
5. Confirm and post the disposal transaction.

Lab Scenario 6: Managing Maintenance Costs

1. Pick a fixed asset that requires maintenance.
2. Create a maintenance transaction to record maintenance costs.
3. Specify details like maintenance type, cost, and date.
4. Save the maintenance transaction for tracking.

Lab Scenario 7: Running Depreciation Reports

1. Navigate to “Reports” in the Fixed Asset module.
2. Select a depreciation report template (e.g., Depreciation Projection).
3. Configure report parameters, including date range and asset group.
4. Generate and review the depreciation report.

Lab Scenario 8: Analyzing Asset History

1. Go to an asset’s details page.
2. Explore the “Asset History” tab to view a history of transactions and changes.
3. Analyze the asset’s complete history, including acquisitions, disposals, and transfers.

Lab Scenario 9: Setting Up Fixed Asset Insurance

1. Access the fixed asset that requires insurance.
2. Click “Insurance” to configure asset insurance details.
3. Input insurance policy information, coverage, and renewal dates.
4. Save the insurance details for the asset.

Lab Scenario 10: Handling Asset Revaluations

1. Choose an asset for revaluation.
2. Initiate a revaluation transaction and select the revaluation method.
3. Update the asset’s revaluation amount.
4. Confirm and post the revaluation transaction.

Lab Scenario 11: Using Mass Update for Asset Changes

1. Select multiple assets that require a common change (e.g., location update).
2. Choose “Mass Update” to make changes to selected assets simultaneously.
3. Complete the update process and verify the changes.

Lab Scenario 12: Setting Up Recurring Maintenance

1. Pick an asset with recurring maintenance requirements.
2. Create a recurring maintenance plan.
3. Specify the maintenance type, schedule, and cost.
4. Automate the generation of recurring maintenance transactions.

Lab Scenario 13: Handling Partial Disposals

1. Choose an asset for which you want to record a partial disposal.
2. Initiate a partial disposal transaction.
3. Specify the disposal method, date, and partial disposal amount.
4. Confirm and post the partial disposal transaction.

Lab Scenario 14: Performing Asset Impairment Tests

1. Select an asset for an impairment test.
2. Create an impairment test transaction.
3. Evaluate the asset’s recoverable amount and carrying value.
4. Record the impairment loss if necessary and post the transaction.

Lab Scenario 15: Configuring Asset Groups

1. Access the Asset Groups setup.
2. Create new asset groups for categorizing assets.
3. Specify depreciation methods and default accounts for each group.

Lab Scenario 16: Using the Fixed Asset Journal

1. Navigate to “Fixed Asset Journals.”
2. Create a new journal for transactions like acquisitions or disposals.
3. Enter multiple transactions in the journal.
4. Validate and post the journal.

Lab Scenario 17: Running Fixed Asset Reports

1. Visit the “Reports” section in the Fixed Asset module.
2. Choose a report template (e.g., Asset Register) to view asset details.
3. Configure report parameters and generate the asset report.

Lab Scenario 18: Managing Asset Locations

1. Access the Asset Locations setup.
2. Create new locations or departments for tracking asset placement.
3. Associate assets with specific locations.

Lab Scenario 19: Handling Asset Leases

1. Choose an asset under lease.
2. Set up a lease contract for the asset, specifying lease terms and conditions.
3. Monitor and record lease payments and lease-related transactions.

Lab Scenario 20: Performing Asset Audits

1. Plan an asset audit to verify the physical presence and condition of assets.
2. Generate a list of assets for audit.
3. Conduct the audit, updating asset details as needed.
4. Verify the accuracy of asset records.

These lab scenarios cover a wide range of activities within the Fixed Asset module in D365FO. Practicing these scenarios will help you become proficient in managing fixed assets effectively.