In Microsoft Dynamics 365 Business Central, you can set up insurance policies that you can link to fixed assets. By doing so, you can monitor if your assets are overinsured or underinsured.
Managing insurance in Business Central includes setting up insurance information, assigning assets to insurance policies, monitoring the insurance coverage, updating insurance information, and indexing fixed asset insurance.
In the Fixed Asset Setup window, you can set up general information about fixed asset insurance by following these steps:
Select the Search for page icon in the upper-right corner of the page, enter fixed asset setup, and then select the related link.
On the General FastTab, enter information on the insurance fields as follows:
Insurance Depr. Book - The value in this field specifies a depreciation book code. If you use the insurance facilities, you must enter a code to post insurance coverage ledger entries. For example, to post an acquisition entry with an insurance number or a disposal of an insured asset, you must select a book in this field. This restriction exists because the disposal of an asset automatically stops the insurance coverage. To disconnect sold assets from insurance policies, select a depreciation book code that is assigned to all fixed assets. You should set up the default depreciation book before setting up the insurance depreciation book. You can also use the code in this field when you sell a fixed asset and the values from insurance policies change. Select the field and then select a code.
Automatic Insurance Posting - If you want insurance coverage ledger entries to post automatically when you post acquisition cost entries with the Insurance No. field filled in, select this check box. If this check box is cleared, the program creates entries in the insurance journal instead of posting to the insurance coverage ledger entries.
On the Numbering FastTab, select the Insurance Nos. field, and then select the code for the number series that the program uses to assign numbers to insurance policies.