Insure Fixed Assets
You can link one or more fixed assets to a single insurance policy, and you can also link one fixed asset to the same insurance policy with various amounts.
You can assign a fixed asset to an insurance policy in two ways:
Post an acquisition cost with the Insurance No. field filled in on the journal line.
Post an acquisition cost without the Insurance No. field filled in on the journal line, and then use the insurance journal to post the acquisition cost to the insurance coverage ledger.
After you have posted an entry with a number in the Insurance No. field, the program will automatically place a check mark in the Insured field on the Maintenance FastTab of the fixed asset card.
The acquisition cost can be posted to the insurance coverage ledger from:
a purchase invoice.
an FA G/L journal.
an FA journal.
an insurance journal.
When you sell a fixed asset, the program will automatically remove the check mark in the Insured field on the fixed asset card.
The following table describes a sequence of tasks, with links to the topics that describe them. These tasks are listed in the order in which they are generally performed.
| To | See |
|---|---|
Add, change, or remove insurance policies. |
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Post an acquisition cost to a fixed asset and link it to an insurance policy from a purchase invoice. |
How to: Post Acquisition Costs to Insurance Policies by Using Purchase Invoices |
Post the acquisition cost from an FA journal when you post to a depreciation book in which you have not activated general ledger integration for acquisition cost. |
How to: Post Acquisition Costs to Insurance Policies by Using Fixed Asset Journals |
Link a fixed asset to an insurance policy by posting the acquisition cost from an insurance journal. |
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Attach a fixed asset to different insurance policies. |
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Terminate a fixed asset’s insurance coverage automatically by posting a disposal entry to the depreciation book that you have specified in the Insurance Depr. Book field in the Fixed Asset Setup window. |
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Enter new information on the insurance card to ensure that you analyze insurance policy coverage correctly. |
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Update the value of the fixed assets that are covered in your insurance policy. |
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See which fixed assets are covered by insurance or which policies cover a fixed asset by either looking at the statistics or printing a report. |
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View the entries that you have made in the insurance coverage ledger. |
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Correct an incorrect entry by creating a reclassifying entry in the insurance journal. |
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View the over/under insurance coverage of a fixed asset in the Fixed Asset Statistics window. |
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Print a report to view the over/under insurance coverage of a fixed asset. |
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Check that you have not forgotten to assign a fixed asset to an insurance policy, by printing the Insurance - Uninsured FAs report. |
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See the statistics for insurance policies in the Insurance Statistics window. |
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Delete insurance cards. |
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See which fixed assets are covered by insurance, and which policies cover a specified fixed asset by viewing the relevant statistics. |
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See which fixed assets are covered by insurance or which policies cover a fixed asset, by printing the Insurance - Tot. Value Insured report. |
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Get an overview of your insurance policies, by printing the Insurance - List report. |