Fixed Asset Actual to Budget Comparison

JKlunk

Active Member
I think I mentioned this before, though I may not have been specific enough.

We submit Capital Expenditure Requests that are processed through the system
by me before the capital addition is made. This CER includes all necessary
information (Description, B/U, etc.), as well as a field showing the Project
Cost Estimate. When the actual purchase takes place, the amount is applied
directly to the fixed asset without user intervention.

It seems that all fields are in place to allow for an easy comparison of
Actual to Budget. Yet when I create the new fixed asset, I don't see any
field where I could enter the budgeted amount (project cost estimate). Has
anyone worked with this before? If so, any feedback would be greatly
appreciated.

Wondering why this shouldn't be simple,

Jarrod Klunk
[email protected]
 

John_Dickey

Reputable Poster
There is no project estimate amount (budget) field in fixed assets. I
suppose you could get tricky and create a new ledger type and key in manual
journal entries for the budget amounts to that ledger type. Have not
personally tried that. At White-Rodgers we use the JDE job cost application
while the fixed asset is in process. Job cost contains budget to actuals
logic. When the fixed asset is ready to go live, we then activate the fixed
asset number with the correct cost amount. Once in fixed assets, we no
longer see what the budget was, though we can go back to job cost and see it
there still (until job cost detail gets purged).

John Dickey
White-Rodgers
(314) 577-1466
 
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