What are asset budgets?

The Fixed Asset Register, like Financials, allows you to maintain up to ten separate budgets for an asset, in addition to the actual details. Each budget asset register is identified with a code between B and K.

You can maintain budget values for all of the assets you have defined in the actual asset register using Asset Records (FAS). The budget asset register operates in the same way as the actuals asset register.

You must use Change Budget (CBG) to access a budget ledger. You can then enter budget transactions using Ledger Entry (LEN) or Ledger Import (LIM) to set up the asset budget values, record asset additions, revaluations and disposals.

You can also use Depreciation Calculation (FDC) to depreciate the budget values and generated depreciation budget transactions to update the asset budget records and the depreciation accounts in Financials.

There are many different uses for asset budgets, including:

• budgeting purposes
• forecasting future depreciation
• experimenting with alternative depreciation methods and policies
• maintaining taxation values.