Update maintenance budgets
This unit reviews how to recalculate and adjust maintenance budget lines, including how to update budget lines with actual costs when the budget period has passed and costs have been posted in Asset Management. You might want to use this functionality if you previously created a budget with the expected cost for a new fleet of trucks for your company, but now you have the actual costs that you need to update on the budget.
Recalculate a maintenance budget
Before you recalculate a maintenance budget, it's important to note that you can’t recalculate a maintenance budget when the budget has been approved. If recalculation is required, you must remove the budget approval.
- Navigate to Asset management > Inquiries > Maintenance budget > Budget. Select Budget lines in the Action Pane. On the Maintenance budget lines page, select Recalculate. The Recalculate budget dialog box appears, where you can make the necessary adjustments. For example, if you want to change the Corrective from date to an earlier time frame, or you want to group the information by asset types or functional locations.
- When you're done making your edits, select OK.
The recalculation runs, deleting the previous budget lines and replacing them with new budget lines based on the values that you set.
Asset Management > Inquiries > Maintenance budget > Budget
Adjust budget lines
Occasionally, you need to make an adjustment to a specific budget line. For example, you have recently discovered that an additional cost was added or that it involved two assets rather than one. Instead of running a recalculation, you can follow these steps to make the adjustment:
On the Maintenance budget lines page, select the budget lines that you want to update. From the upper menu, select Adjust. The Adjust selected budget lines dialog box appears.
To add the additional cost, select the Add cost check box and enter the amount in the Add value field.
To calculate for the additional asset, select the Multiply cost check box and enter the factor in the Multiply value field.
For example, if you enter 2 in the Multiply value field, you double the budget cost. If you enter 1.2 in the field, it increases the budget cost by 20 percent. If necessary, you can decrease the cost enter by a “0.x” number to determine the decrease. For example, if you enter 0.7, you reduce the budget cost by 30 percent.
When you're finished, select OK and the system updates the budget line accordingly.
Update actual costs
Sometimes, it's necessary to make updates to actual costs. This situation usually happens after budget line dates have passed and related actual costs are posted in Asset Management. This topic explains how you can make these updates.
On the Maintenance budget lines page, select Update cost. When the Calculate actual cost dialog box appears, select OK.
Because the actual costs have already been posted, the Actual cost fields on the budget lines are automatically be updated. You might notice that new budget lines have been created for new asset types, if they were used on assets where work orders were created for and related costs were posted after you created the budget. These new budget lines only show the actual costs because the original budget didn’t calculate for them.
Note
To see an overview of actual costs divided into preventive, corrective, and investment costs, go to Asset Management > Inquiries > Assets > Asset cost control, where you can you run a calculation for the same period.
Add budget lines manually
Based on the previous section, consider a scenario where you’ve learned that new asset types were created after you made the maintenance budget. Rather than waiting until after the budget date has passed, you want to include the new asset costs in your current maintenance budget.
To enter the new costs, on the Maintenance budget lines page, select New, and enter the new budget cost.