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Understanding Asset Budgeting Activities

Establish the starting point for developing a capital budget by importing from PeopleSoft Asset Management or another application the existing in-service assets and their depreciation expenses.

Planning and Budgeting enables you to view running totals as you budget fixed assets within your proposed budget. After the budget coordinator establishes the starting point and asset-related defaults, add new assets that you plan to purchase during the proposed budget period. For your proposed capital budget, the system reflects the new depreciation expenses along with existing assets. View or edit these newly added assets as necessary; however, you cannot edit existing in-service assets.

After you add and save new assets to the budget, the effect of the asset is reflected in line item budgeting. The inclusion of existing, in-service assets can also affect your line item budget for depreciation expense, and your starting balance if you are including asset accounts in conjunction with an activity that allows balance sheet planning. When a line item activity for balance sheet planning includes the asset accounts, the in-service asset purchase price will be included in the starting balance of the asset account with which it is associated. The system stores the details of an asset, including the cost and depreciation information that can impact a line item activity budget.

The new asset IDs are not sent back to Asset Management, but you can view the details online by analyzing the data or running a custom report against the EPM Warehouse records.

Note: The in-service asset amounts that appear in the starting balance of a line item activity is the full original purchase price of the asset (cost multiplied by quantity), it does not include or subtract any accumulated depreciation.

The starting balance column is available in your line item activity when you select the Include Balance Sheet Planning option on the Activity page.

To budget assets: