Setting up Asset Budgets

Asset Budget Details (FAB) is used to set up a budget asset, in a budget ledger. Budget assets contain the same information as the 'actual' assets set up using Asset Records (FAS), but they are held in a separate budget ledger. So, a budget asset still contains all of the static data available, such as asset status, depreciation periods and posting accounts, gross value, accumulated depreciation and net book value. The budget asset values can be held in the three currencies available: base currency, transaction currency and second base/reporting currency. However, the details do not have to be the same, so you can define a budget asset that uses different depreciation methods and currencies to the equivalent 'actual' asset. Therefore, by specifying a particular asset within a budget ledger, you are able to maintain a set of information on the asset alongside the actual information, for example, for the purpose of forecasting.

There are ten budget ledgers available and they are identified by the budget codes B to K corresponding to the budget facility in SunSystems Financials. Transactions can be posted to asset budgets using Ledger Entry and Ledger Import.

Budget data can be reported alongside actual data using the Financials report writers. You might use several budget ledgers to maintain different budget asset valuations or requirements, for example, one for taxation planning, one for forecasting, and so on.