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kathy47
Level 1

Is there a way to enter budget numbers for Fixed Assets?

 
7 Comments
AileneA
QuickBooks Team

Is there a way to enter budget numbers for Fixed Assets?

Hi there, @kathy47

 

Welcome to the Community. In QuickBooks, entering budget for fixed assets is unavailable. Though, you can add it under Description and name it. 

 

Let me show you how to set up Fixed Assets: 

 

  1. Go to Setting, then choose Chart of Accounts
  2. Tap New
  3. Under Account Type drop-down arrow and select Fixed Asset
  4. From the Details Type drop-down arrow and choose that describes the asset. 
  5. Name the account, then under Description field you can name it Budget number
  6. Mark check the Track depreciation of this asset. 
  7. Enter the Original cost and the Depreciation
  8. Click Save and Close

 aset.PNG

 aset1.PNG

 aset2.PNG

 

 

I understand the importance of this option when entering the budget number for you and your business. Rest assured, I'll personally send this feedback to our product developers. This way, it might be given a chance to be added to our next products update.  

 

I've added an articles to learn more about fixed assets: 

That's it. Please let me know if you have further questions about fixed budget. I'll be here to answer them. Have a great day!

vpcontroller
Level 11

Is there a way to enter budget numbers for Fixed Assets?

@kathy47 

@AileneA 

"Is there a way to enter budget numbers for Fixed Assets?"

 

The answer is NO.

Unlike QB Desktop, you can't create Budget for the Balance Sheet items including Fixed Assets in QuickBooks Online. In QBO, budgeting is for the Profit and Loss accounts only.

 

desktop_budgeting-for-balance-sheet.PNG

 

ttroemel1
Level 1

Is there a way to enter budget numbers for Fixed Assets?

They need to change this or we will need to change software. Budgets should be able to be 100% custom.

mm np
Level 1

Is there a way to enter budget numbers for Fixed Assets?

Completely agree. The inability to enter a capital budget for fixed assets is a huge problem. 

mm np
Level 1

Is there a way to enter budget numbers for Fixed Assets?

Completely agree. The inability to add a capital budget amount for a fixed asset line item creates significant challenges resulting in hack workaround within QBO.

bmikrut1
Level 1

Is there a way to enter budget numbers for Fixed Assets?

Yep - agreed here as well.  Gotta be able to offer this.  Can't do what I need to do for a client who needs to budget for a long-term house flip where everything needs to post as an asset (Construction in Progress).  Can we get this rolling Intuit?  I'm stuck looking at other software solutions until you do.

MaryLandT
QuickBooks Team

Is there a way to enter budget numbers for Fixed Assets?

I understand how important entering budget for fixed assets is to your business,  bmikrut1.

 

You can send a request about the feature that you want in QuickBooks. Simply follow these steps I've outlined below:

 

  1. Select the Gear icon at the top, then Feedback.
  2. Enter your comments or product suggestions.
  3. Click Next to submit feedback.

Your valuable feedback goes to our Product Development team to help improve your experience in QuickBooks. You can track feature requests through the QuickBooks Online Feature Requests website.

 

I'm adding this link for a guide when creating budgets: Learn how to get your budgets into QuickBooks.

 

Also, to keep you in the loop with what's new and coming, you can visit the QuickBooks blog page. And, join the team so you'll received updates.

 

Don't hesitate to post again if there are other things you need help with. I'm always around to answer your questions.

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