How to post fixed asset budget journal on AX 2009

How to post fixed asset budget journal on AX 2009

Hi,

You need to have FA budget created and Fa budget journal created,

and through General ledger, using FA budget journal you can post budget transactions to the selected fixed asset.

and you can inquire the same from fa,value models, inquiry,balances by selecting budget model here.

the other way to do update the budget for fa is go to fa,value models, forecasting,entry - here u can add/update budget and transfer to FA.

Thanks - JK

Hi ,

I am not understanding the concept of FA budget journal , why we need to create the FA budget . ? Do we need to create for each FA ?

If it is the new FA , why we need to create ?

Please share your experience.

Hi Ameen,

You don’t need to enter a budget against a fixed asset.

The concept is, as Jagadeesh mentioned above the ability to inquire and report on variances. Companies may budget their capital spend over the next year or two. By entering the asset details and the budgeted amount you can report on variances both in the fixed asset module and the general ledger.

More importantly the FA budget can be transferred to a general ledger budget and then onto a cash flow forecast.

Hope this helps.

Cheers.

John.

Thanks John ,

Here you are telling that need not to enter the budger amount against the fixed asset.

In the above statment you says , you need to enter asset details and budget amount also.

Do i need to create the fixed asset master before purchase ( wich user is going to purchase over the next year or two )and to update budget amount . ?

Can you clarify which is correct ?

Hi Ammen,

Apologies for the confusion.

In order for the fixed asset module functionality to work you don’t need to enter a budget, but if you want to enter a budget then the master fixed asset record must be created.

On your second point, I believe you should create the fixed asset before purchase (this is based on an accountancy/audit background), but, there is an option to create the asset during purchase order receipt (Fixed Assets>>Setup>>Fixed Asset Parameters>>Fixed Assets>>Purchase Orders>>Create Asset During Product Receipt Or Invoice Posting). If you allow this option, you effectively remove the control from finance.

So, to summarise, IF you want to report variances in the fixed asset module or the general ledger then the asset record must be created first and a budget entered. If you don’t need to report on variances then you have the option through parameters to control whether the fixed asset must be created first or created on the fly through purchase order receipt/invoice.

Cheers.

John.

Thanks for your clarification.

After creating the FA , do i need to enter the budget amount against each FA ?

Am i right ?

Can you share about the option a , i did not find such option in the G/L parameters.

When passing the FA budget journal , what would be the offset account ?

what kind of Transaction type entries can i pass through FA budget journal ?

Is it G/L or vendor ( for Acquistion ) ?

G/L or Customer ( for Disposal) ?

Depreciation ( which account ) ?

Please share your experience .

Can any pioneer share your ideas about this ?

Please throw some light ?

Dear

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