Fixed Asset Budget Transfer in D365 for Finance and Operations

Posted on: January 2, 2018 | By: Jarrod Kraemer | Microsoft Dynamics AX/365

Authored by: Chris Rusing

Happy new year! I hope you all have had a successful year and a trouble-free year end close (click here if you are looking for direction on how to accomplish that in D365FO). Another year in the books means it’s probably time to start budgeting for 2018. I know this can be quite the burden on an accounting staff, but hopefully your ERP system can make life easier for you. In this blog, I will explain how to transfer your depreciation expenses to your ledger budget in the budgeting module in Dynamics 365 for Finance and Operations (please note that this functionality is available in AX 2012, but some of the steps may slightly differ).

First, we need to create a new journal name prior to using the fixed asset budget transfer functionality.  You can create this journal name in General ledger> Journal setup> Journal names. Make sure you select Fixed asset budget as the journal type.

 

Also, go to the Budgeting> Setup> Basic Budgeting and ensure that you have basic budgeting setup (budgeting parameters, budgeting dimensions, budget models, and budget codes at a minimum).

 

Now that those are taken care of, let’s start using the fixed asset budget journal.  Go to Fixed assets> Budget> Fixed asset budget journal

 

Create a new journal (using the journal name you created previously), fill in a meaningful description and then click Lines to continue.

 

At the top of the form, click the Proposals button and then click Depreciation proposal.  We will be creating budget entries for depreciation expenses and the accumulated depreciation.  This is a very similar process to your typical way of posting depreciation for your assets.

 

 

This will prompt a proposal screen like the one below. Choose your budget model (created previously in basic budgeting) and choose your date interval- I’ve decided to include dates for the entire 2018 fiscal year.  Also, I’ve decided to summarize depreciation.  This will summarize the depreciation of the entire year for each asset as opposed to having a line of depreciation per period per asset (a much more detailed display).  Please notice that I decided not to filter any of my records out, so it will grab all open assets.  Once you are complete, click OK at the bottom.

 

Once the entries have generated, click Post at the top of the form.  We will want to choose the Transfer to fixed asset and ledger budget option so the budget is on the fixed record and in the budget registry form.

 

Prior to executing this final step, you will be offered these options below.  If you are running this functionality again for the second or third time, it may be beneficial to change these to Yes so you have updated information in your system.

 

After that is complete, you can go to Budgeting> Budget register entries to see the budget register entry of your fixed asset depreciation.  Click the Update budget balances button at the top of the form to post the budget.

 

I hope this blog has been a beneficial tool to help you prepare your 2018 budget!  For additional information please feel free to reach out to us at info@loganconsulting.com or (312) 345-8817. 

All the best!
Logan Consulting
www.loganconsulting.com



25 Brilliant Ideas to Outsmart Your Competition with Microsoft Dynamics
25 Brilliant Ideas to Outsmart Your Competition with Microsoft Dynamics

Free Download:

25 Brilliant Ideas to Outsmart Your Competition with Microsoft Dynamics

Download the guide ›

Top 10 Inventory & Operations Decisions Distributors Are Making Blind
Top 10 Inventory & Operations Decisions Distributors Are Making Blind

Free Download:

Top 10 Inventory & Operations Decisions Distributors Are Making Blind

Download the guide ›

2020 Nucleus Research Report on ERP Technology

Free Download:

2020 Nucleus Research Report on ERP Technology

Download the guide ›