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Capital Expenditure Budgets monitoring and control

Hello, I'm relatively new to NAV so do excuse me if my question is basic.

I wish to load, account and then control capital expenditure in the company.

So far the capex expenditure budget has been controlled via XL outside the NAV software. I now want to discard the XL and make NAV control it.

Example: The Board of Directors have authorised capex of $ 30,000 for machinery and $ 20,000 for a vehicle for the financial year 2021.

a) where do I load this budget in NAV (in which module)

b) Once loaded I now want to buy a machinery worth $ 6,000 in May 2021. Do I create a PR before a PO or do I create a PO straightaway.

c) In the above is the creation of the PR mandatory? i.e. it wont allow me to create a PO unless there is a PR?

d) What step triggers the reduction in my budget? So the budget for machinery was $ 30k. If a PR is created for $6k now will it reduce the budget to $24k?

I do not want to know the detailed screen-by-screen solution (that will come later). At the moment an broad overview will be very useful.

Thank you. Rgd Jamshed

Hello,

In NAV you can budget the acquisition cost of fixed assets. To budget a Fixed Asset I am attaching my Fixed Asset Manual. Budgeted Assets starts on page 28. In summary, you create a Budget Fixed Asset Card, with the Budgeted Asset field checked. This tells NAV this is a Budget Asset only and to compare to a real Asset Card. You add the Budget Amount to this Asset using the Fixed Asset Journal.

As for acquiring a Fixed Asset that is budgeted. You first create a Fixed Asset Card for the Acquired Asset. Then you can use a Purchase Invoice to enter a Purchase Line, for the Fixed Asset Type, and book the Acquisition Cost. NOTE!!! - On the Purchase Line YOU MUST enter the Budgeted Fixed Asset No. so you can compare Capital Budgeted Asset to Actual Purchased Asset. Please make sure the field is visible on the Purchase Line. When you run Statistics you will see Budget to Actual.

Hope this helps.

Thanks,

Steve

Fixed-Asset-TransactionsFA_5F00_02.pdf

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