After you have set up the insurance information, you are ready to link fixed assets to insurance policies. 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 tab 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.
Insurance Information Setup
Posting Acquisition Costs to Insurance Policies by Using Purchase Invoices
Posting Acqusition Costs to Insurance Policies by Using FA Journals
Posting Acqusition Costs from Insurance Journals
Attaching Fixed Assets to Multiple Insurance Policies
Viewing Insurance Coverage Ledger Entries
Viewing Statistics for Insurance Policies
Terminating Fixed Asset Coverage
Updating Insurance Information
Monitoring Insurance Coverage