Set up insurance journals

Two ways to link an asset to an insurance policy are:

  • When you post the acquisition cost, you can enter the Insurance No. field on the purchase line or journal line.

  • You can enter and post a line in the insurance journal.

The program automatically creates an insurance journal template when you open the Fixed Asset Insurance Journal window for the first time. To set up additional insurance journal templates, follow these steps:

  1. Select the Search for page icon in the upper-right corner of the page, enter insurance journal templates, and then select the related link.

  2. Select New.

  3. Fill in the fields as follows:

    • Name - Enter the name of the template.

    • Description - Enter a description of the journal template.

    • No. Series - Select the field and then select a number series from the list.

    • Posting No. Series - Select the field and then select a posting number series from the list.

    • Source Code - This field will be filled in by the program automatically.

    • Reason Code - Select the field and then select a reason code from the list.

Insurance journal templates page

If you want to use several batches for an insurance journal template, for example a batch for each user, select Navigate > Template > Batches to create a new batch.

In Business Central, in the FA Journal Setup window, you can set up a default set of insurance journal templates and batches for each of your depreciation books and then specify a default set for each user.

You can use these default journal templates and batches when duplicating entries from one depreciation book to another, creating journal lines by running a batch (the Calculate Depreciation or Index Fixed Assets batch jobs), duplicating the acquisition-cost entries job in the insurance journal, or when the program automatically posts to the insurance coverage ledger.

To set up default insurance journal templates and batches, follow these steps:

  1. Select the Search for page icon in the upper-right corner of the page, enter depreciation books, and then select the related link.

  2. Select a line with the relevant depreciation book, and then select Navigate > Depr. Book > FA Journal Setup.

  3. Select a line with the relevant user ID, select the Insurance Jnl. Template Name field, and then select a template to be used by default for the given user and depreciation book.

  4. Select the Insurance Jnl. Batch Name field, and then select a batch to be used by default for the given user and depreciation book.

FA journal setup