Exercise - Link a fixed asset to an insurance policy
This exercise uses the CRONUS sample company from the US version of Business Central. You might need to adjust the steps if you use the sample company from your country or region.
Scenario
CRONUS is insured for damage and theft of machinery and equipment. You decide to create an insurance policy in Business Central with the following information:
Description: Machinery and equipment
Insurance vendor: First Up Consultants
Effective date: January 1, 2020
Expiration date: December 31, 2020
Policy no.: 26-987-02
Annual premium: 2,670.00 LCY
Policy Coverage: 480,000.00 LCY
Next, you will use the insurance journal to link the Microsoft Surface configuration to the new insurance policy for an amount of LCY 7,000.00, with a posting date of May 1, 2020.
Tasks
Create an insurance policy for the machinery and equipment insurance.
Link the Microsoft Surface configuration fixed asset to the new insurance through the insurance journal.
Steps
Select the Search for page icon in the upper-right corner of the page, enter insurance policies, and then select the related link.
Select New.
Enter the fields as follows:
Description: Machinery and equipment
Insurance Vendor: 20000
Effective Date: January 1, 2020
Expiration Date: December 31, 2020
Policy no.: 26-987-02
Annual Premium: 2670
Policy Coverage: 480000
FA Class Code: Tangible
FA Subclass Code: EQUIPMENT
Return to your role center page.
Select the Search for page icon in the upper-right corner of the page, enter fixed asset insurance journals, and then select the related link.
Enter a journal line as follows:
Posting Date: May 1, 2020
Insurance No.: Select the machinery and equipment insurance policy
FA No.: Select the Microsoft Surface configuration fixed asset
Amount: 7000
Select Post.
Select Yes.