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Finance | Project Operations, Human Resources, ...
Unanswered

Fixed Asset Budgets and Reporting

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Posted on by 17
I am after some guidance or best way forward suggestions here.
 
We have lot of fixed assets, some are buildings some are furniture.
 
We want to do the following but it is proving difficult.
 
Fixed Asset A is a house
Fixed Asset B is a table
Fixed Asset C is a chair
 
We want to ascribe a yearly budget to Fixed Asset A of say $1000 (for any expenditure to be carried out that year)
Then the cost of Fixed Assets B&C will be linked to the main fixed asset A and come out of this budget
A report should show the fixed assets and how much has been spent against the yearly budget, or multiple budgets against the first fixed asset if different projects
 
I have played around with budget journals and attaching one fixed asset to a parent fixed asset, but nothing seems to cover this and maybe it is not possible in the fixed asset module and should be handled elsewhere
 
Even with a budget in place for a fixed asset the reports aren't really showing what we need
 
Thanks in advance for any assistance here
 
Julian
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  • Sathish Kumar Palanisamy Profile Picture
    388 Super User 2026 Season 1 on at
     
    May be following are the possible workaround 
     
    Option 1: Use Projects to Track Budget and Spending
    Leverage the Project Management and Accounting module:
    Create a project for Fixed Asset A (House).
    Assign Fixed Assets B & C (Table & Chair) as project-related acquisitions or expenses.
    Set a budget of $1000 on the project.
    Use project categories to track types of spend (e.g., furniture, maintenance).
    Use project budget vs actual reports to monitor spend against the house’s budget.
    This approach gives you full visibility into budget consumption and allows grouping of related assets under a single cost center.

    Option 2: Use Financial Dimensions for Logical Grouping
    If you prefer to stay within the Fixed Assets module:
    Create a custom financial dimension (e.g., “Asset Group” or “Parent Asset”).
    Assign the same dimension value (e.g., “House-A”) to Fixed Assets A, B, and C.
    Use budget register entries against this dimension.
    Use budget control and financial reports to track spend against the dimension.
    This allows you to simulate a parent-child relationship and track budget consumption across assets.
  • JB-12112223-0 Profile Picture
    17 on at
    Thank you Satish for your detailed answers - I suspected Proj M and Acc was the logical solution here, it is in the pipeline to be set up, so could be a little way off but it definitely sounds like it is built for the task.
     
    Julian

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