Warranty agreements

  • 10 minutes

Warranties help lower the cost of repair and maintenance of your assets, which is why it is important to keep track of which assets they cover, the type of coverage they provide, and the terms.

Because warranty terms can vary from one asset to another, Asset Management allows you to link the warranty terms to a specific asset or asset type, which involves a two-step process:

  1. Create the various warranty agreements for your equipment.
  2. Attach the assets or asset types to the warranty agreements.

After you have completed these steps, the warranty information that you created will help with asset repairs and possible replacement.

Your company might have many warranties that are associated with your assets, and Dynamics 365 Supply Chain Management allows you to set up several types of warranty terms. For example, you might have warranty terms for machinery from a specific company that ranges from six-month to five-year warranties. You can set up warranty terms for each and then link them to your assets.

You can set up warranties by going to Asset management > Setup > Assets > Warranty. On the Warranty page, you can specify the following details:

  • Warranty description
  • Assets that are linked to the warranty
  • Warranty lines - On warranty lines, you can specify periods. Some warranties might start with “full coverage” warranties, and then as each year goes by (or a specific period of time), the warranty coverage will change. You can set up warranty periods to define the different coverages through periods.

Create a warranty agreement

To create a warranty agreement, follow these steps:

  1. Go to Asset management > Setup > Assets > Warranty and then select New.
  2. In the Warranty field, enter a specific ID, such as 1 YR or 6 MOS.
  3. Provide a more detailed description in the Name field.
  4. When this warranty is associated with an asset, the Assets field on the Details FastTab will show you the number of active assets by using this warranty.
  5. Select Save to save this information.
  6. On the Warranty lines FastTab, select Add line. The Line field automatically enters a sequential number.
  7. Use the drop-down menu to select the timeframe in the Period field.
  8. In the Interval field, enter the appropriate number for the type of period selected. For example, if this is a six-month warranty, select Month for the period and enter 6 in the Interval field.
  9. In the Percent field, enter how much the warranty covers during this period. For example, you can specify whether the warranty covers the asset for 100 percent or only 50 percent.

Asset management > Setup > Assets > Warranty

Screenshot of the Create a warranty page with details highlighted.

The following video explains the process of creating a warranty agreement.