Insure Fixed Assets

You can link one or more fixed assets to a single insurance policy, and you can also link one fixed asset to the same insurance policy with various amounts.

You can assign a fixed asset to an insurance policy in two ways:

• Post an acquisition cost with the Insurance No. field filled in on the journal line.

• Post an acquisition cost without the Insurance No. field filled in on the journal line, and then use the insurance journal to post the acquisition cost to the insurance coverage ledger.

After you have posted an entry with a number in the Insurance No. field, the program will automatically place a check mark in the Insured field on the Maintenance FastTab of the fixed asset card.

The acquisition cost can be posted to the insurance coverage ledger from:

• a purchase invoice.

• an FA G/L journal.

• an FA journal.

• an insurance journal.

When you sell a fixed asset, the program will automatically remove the check mark in the Insured field on the fixed asset card.

The following table describes a sequence of tasks, with links to the topics that describe them. These tasks are listed in the order in which they are generally performed.

To	See
Add, change, or remove insurance policies.	Updating Insurance Information
Post an acquisition cost to a fixed asset and link it to an insurance policy from a purchase invoice.	How to: Post Acquisition Costs to Insurance Policies by Using Purchase Invoices
Post the acquisition cost from an FA journal when you post to a depreciation book in which you have not activated general ledger integration for acquisition cost.	How to: Post Acquisition Costs to Insurance Policies by Using Fixed Asset Journals
Link a fixed asset to an insurance policy by posting the acquisition cost from an insurance journal.	How to: Post Acquisition Costs from Insurance Journals
Attach a fixed asset to different insurance policies.	How to: Attach Fixed Assets to Multiple Insurance Policies
Terminate a fixed asset’s insurance coverage automatically by posting a disposal entry to the depreciation book that you have specified in the Insurance Depr. Book field in the Fixed Asset Setup window.	How to: End Insurance Coverage of Fixed Assets
Enter new information on the insurance card to ensure that you analyze insurance policy coverage correctly.	How to: Modify Insurance Cards
Update the value of the fixed assets that are covered in your insurance policy.	How to: Index Insurance
See which fixed assets are covered by insurance or which policies cover a fixed asset by either looking at the statistics or printing a report.	Monitoring Insurance Coverage
View the entries that you have made in the insurance coverage ledger.	How to: View Insurance Coverage Ledger Entries
Correct an incorrect entry by creating a reclassifying entry in the insurance journal.	How to: Correct Insurance Coverage Entries
View the over/under insurance coverage of a fixed asset in the Fixed Asset Statistics window.	How to: View Over/Under Insurance Coverage
Print a report to view the over/under insurance coverage of a fixed asset.	How to: Print Over/Under Insurance Coverage Reports
Check that you have not forgotten to assign a fixed asset to an insurance policy, by printing the Insurance - Uninsured FAs report.	How to: List Uninsured Fixed Assets
See the statistics for insurance policies in the Insurance Statistics window.	How to: View Statistics for Insurance Policies
Delete insurance cards.	How to: Delete Insurance Cards
See which fixed assets are covered by insurance, and which policies cover a specified fixed asset by viewing the relevant statistics.	How to: View the Total Value Insured for Fixed Assets
See which fixed assets are covered by insurance or which policies cover a fixed asset, by printing the Insurance - Tot. Value Insured report.	How to: Print Total Value Insured Reports
Get an overview of your insurance policies, by printing the Insurance - List report.	How to: List Insurance Policies

See Also

Concepts

Set Up Fixed Asset Insurance