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Budget Amount in Fixed Assets

JKlunk

Active Member
I'm sure this is an easy question, but I can't seem to find the field to
enter a budget amount when entering a fixed asset. I want to use this to
create a report to compare actual amount to budgeted for a project.

TIA,

Jarrod Klunk
Jklunk@snyders-han.com
 

John_Dickey

Reputable Poster
Jarrod,
I can see you are having fun with fixed assets. Fixed assets does not
have any concept of a budget in it. What we do here is when we are in the
process of acquiring a new asset, we use the job cost application to control
budgetting and spending. Once an asset is set up and in use, then we move
the final cost into the fixed asset number and start depreciation on the
asset. I have not tried this, but you might be sneaky and input a budget to
the cost account and specific subledger numbers (assuming you post cost in
fixed assets to subledger numbers), though that would seem like a yuck way
to meet to try and handle the situation (not that the job cost is that much
better). Hope this helps some.

John Dickey
White-Rodgers IS
(314) 577-1466
 

GMunchel

Active Member
We also use "Job Cost Lite" to control our Capital Expenditure (Fixed Asset)
purchases. We set up a parent job upon the creation of an approved
Appropriation Request, and create subsidiary jobs related to the parent for
each specific piece of equipment using as the BU number the future equipment
number. At the same time we add the new asset to the Fixed Asset system
which makes this available to our maintenance department to begin creating
Preventive Maintenance procedures for this future fixed asset.

Back in Accounting, we create only two accounts for each of the detailed
jobs.....an "CIP.IN" account for new expenditures and an "CIP.OUT" account
for closeouts to fixed assets. We assign a budget number to the CIP.IN
account for tracking purposes. When all expenditures are done, the closeout
to fixed assets is a simple manual JE crediting the Capital Expenditure
Job's CIP.OUT account and debiting the fixed asset account referencing the
fixed asset number.

Note that you have lots of capability with this approach. There are job
cost inquiries available. We assign work orders to Capital Expenditure jobs
which lets us transfer in-house payroll expenses using Time Accounting. We
do ODBC inquiries from Excel into the F0902 to create Pivot Tables which
shows us the status of each Capital Expenditure Job and progress against
budget. We created a custom detailed report for use by Manufacturing
Engineering. And we have a dead nuts accurate to the penny sub-ledger of
our CIP (Construction in Progress) account and can deluge any auditor with
mounds of detail!

...G.
World 7.3, Cume 10
 

PDavis

Member
Why would you use a separate BU for every piece of equipment? We
self-construct thousands of pieces of equipment each year, that would mean
an awful lot of BU's. We structure our Cost Code around Equipment, and find
that it works good.

Peter Davis
Business Analyst
Newfoundland and Labrador Hydro




GMunchel <GMunchel@morse.bwauto.com>@jdelist.com on 25-05-2001 05:24:23 PM
 

GMunchel

Active Member
Peter--We do not have a huge number of new assets a year (hundreds, not
thousands). How we implemented (using BU as capital number) was recommended
by our consultants. It has worked well for us (particularly easy to
inquire/query on data by BU type), but I'm curious about your method.
Please explain/give example on how you "structure our Cost Code around
Equipment".

...G.
 

PDavis

Member
G:

Our method was recommended by our consultant as well. It pretty much
follows the example on Pages 3-7 thru 3-10 of the JDE Job Cost guide.

Peter Davis




GMunchel <GMunchel@morse.bwauto.com>@jdelist.com on 29-05-2001 10:33:25 AM
 

harilallr

Member
Hi

Are you using Job Costing. If so and you are creating projects, then I suggest you look at menu G51 , option 2 (Job & Budget Setup).

Many Thanks


I'm sure this is an easy question, but I can't seem to find the field to
enter a budget amount when entering a fixed asset. I want to use this to
create a report to compare actual amount to budgeted for a project.

TIA,

Jarrod Klunk
Jklunk@snyders-han.com




--------------------------
 

JKlunk

Active Member
We're not currently using Job Costing, but it appears that we should
consider that option. I will save your e-mail for future reference. Thanks
for the input!!!

Jarrod
 
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