As I work on year end tax returns for the company, one of the things we look at every year is our tax vs. book depreciation. One thing we find every year is that there are a few assets where the cost is different between tax and book. In our case, they should always be the same. It's getting better each year but we've still got a small handful this year.

This happens when we adjust the cost of an asset after the fact for additional costs that come in later. These are things like freight, tax, installation, etc. Sometimes these bills arrive 60 days after the asset is on the books. We tend to get the corporate…

Mariano Gomez has a look at one option for moving Inventory items to Fixed Assets. I…

If you use GP Fixed Assets, you know that if you run all your Fixed Asset processes (Add, Retire, Depreciate, etc.) together and then run the GL Posting routine, you get one big journal entry with all of your transactions. This makes is very difficult to find and correct any errors.

The easiest way around this is to separate asset changes from depreciation. Make all of your asset additions, retirements and changes,…

I don't think that validating the Fixed Asset calendar is in the Year End checklist for Dynamics GP, but it should be. I've talked about the Fixed Asset calendar before and why it's important to make sure that it matches your…