Learn the step-by-step process to transfer fixed assets between departments in Microsoft Dynamics 365 Finance using the fixed asset journal. Ensure accurate tracking and updated departmental ownership records effortlessly.
Table of Contents
Question
Fabrikam, Inc. is undergoing a corporate restructuring that requires the transfer of fixed assets between different departments. The assets need to be tracked accurately to reflect the new departmental ownership. You need to manage the transfer of fixed assets within Microsoft Dynamics 365 Finance to ensure that the asset records are updated to reflect the new departmental ownership. What action should you take to accomplish this goal?
A. Dispose of the assets from the current department and reacquire them under the new department.
B. Leave the assets under the original department and use notes to indicate the new departmental ownership.
C. Manually update the department information in the asset details page without creating any journal entries.
D. Perform a fixed asset transfer using the fixed asset journal and update the department dimension for the affected assets.
Answer
D. Perform a fixed asset transfer using the fixed asset journal and update the department dimension for the affected assets.
Explanation
Performing a fixed asset transfer using the fixed asset journal and updating the department dimension ensures that the asset records accurately reflect the new departmental ownership and provides an audit trail. Option C is incorrect because it does not create a journal entry, which is necessary for tracking changes. Option A is incorrect as it involves unnecessary disposals and acquisitions. Option B is incorrect because notes are not a reliable method for tracking asset ownership.
Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification exam assessment practice question and answer (Q&A) dump including multiple choice questions (MCQ) and objective type questions, with detail explanation and reference available free, helpful to pass the Microsoft Dynamics 365 Finance Functional Consultant MB-310 exam and earn Microsoft Dynamics 365 Finance Functional Consultant MB-310 certification.