Dynamics GP 2010 – Fixed Assets Low Assets Pool
By Amy Walsh in Dynamics GP, Fixed Assets, News on Tuesday, August 31st, 2010
For companies adhearing to IFRS or using an International version of Dynamics GP 2010, now available is “Low Assets Pooling” depreciation in Fixed Assets. This is a biggie for Austrailian Dynamics GP users.
For the Setup Guide, Click Here, to access and download the Fixed Assets Enhancements Guide. It is only 13 pages and easy to follow.
What is Low Assets Pooling? The idea is similiar to the US standard of MACRS or ACRS. (Remember those methods?) MACRS – Modified Accelerated Cost Recovery System and ACRS – Accelerated Cost Recovery System. Low Asset Pooling can be used in countries, such as, Austrailia, Germany, New Zealand etc…where they elect to use an accelerated form of depreciation for tax purposes.
For more information included is a link to the Austrailian Taxing Authorties if you are interested in learning more. CLICK HERE. For the complete FA Depreciation Austrailian Guide CLICK HERE.
Ironically, as I was writing this article over the weekend the Microsoft GP Team posted a blog on Monday regarding the Austriailian Taxation Office website. Stating that Dynamics GP is acceptable for meeting specific Austrailian tax obligations.
See also Austrailian Taxation Office (ATO) for more information.
About Amy Walsh
Amy Walsh is an Accountant and Senior Consultant with I.B.I.S., Inc. As well as, Microsoft Certified Business Management Solutions Professional - Dynamics GP
Tags: Dynamics GP Low Assets Pooling
Posted in Dynamics GP, Fixed Assets, News
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[...] Walsh shows us new GP 2010 functionality around Fixed Assets Low Assets Pools. This is great for companies with Australia, New Zealand or German operations among others. Also, [...]
This sounds like a solution one of my clients is in desperate need of. How do install this? The manual is part of the cd but nowhere does it say where this can be downloaded or installed
This is a Fixed Assets Enhancement you’ll need to contact your Partner to get a license key for it then you should be able to see the window.