Asset budgeting

  • 4 minutes

With Microsoft Dynamics 365 Finance, you can create separate budgets for fixed assets that aren't part of the financial budgets that you enter in the Budgeting module. Alternatively, you can include the fixed assets budget in the financial budgets.

Two ways of entering a budget for an asset are:

  • Directly on each asset

  • In the Fixed asset budget journal

By entering a budget directly on the asset, you can only enter asset transactions manually. Therefore, you would enter fixed assets budgets in the budget journal. The layout of the budget journal resembles the ledger journal in the Fixed assets module.

To create an entry in the Fixed asset budget journal, follow these steps:

  1. On the navigation pane, select Fixed assets > Journals > Fixed asset budget.

  2. Select the New button to create a new record.

  3. In the Name field, select the arrow to select the journal name to use for the entry.

  4. Select the Lines button.

  5. In the Budget model field, select the arrow to select the budget model to use for this entry.

  6. In the Transaction type field, select the arrow to select the type of transaction. This selection auto populates the values in many remaining fields based on the related posting profile.

  7. In the Date field, enter the date for the budget entry.

  8. In the Account field, select the arrow to select the fixed asset. This could update the Value model and related fields, depending on the fixed asset setup.

  9. In the Debit or Credit fields, enter a currency amount.

  10. Select the Post button and then select Transfer to fixed asset budget or Transfer to fixed asset and ledger budget.

  11. In the dialog, select the Delete existing entries checkbox to delete existing fixed asset budget register entries.

  12. Select OK.

In addition to creating manual entries, you have the same functionalities in the Budget journal as you do in the Fixed assets journal. Essentially, the different types of proposals are available for budgeting. The main difference between the Budget journal and other journals is the Post functionality. When you post a Budget journal, you can decide whether to update the budget accounts only on the Fixed asset budget or to also update the Ledger budget accounts.