Menu

AFE Management

Overview AX4energy helps you with Authorization for Expenditure management

Authorization for Expenditure management (AFE) for Dynamics AX 2012 allows your business to set up and control capital expenditures by measuring actual against budgeted costs on both a gross and net basis. Manage cash flows using cash call functionality and overruns using supplemental/multi-revision capabilities at the Authorization for Expenditure level. Built-in approval functionality allows control and visibility at both the internal and partner level. Manage approvals in the system using alert and workflow capabilities. AFE budgets can be integrated with corporate budgets to allow companies to view overall finances and reporting.

Capabilities

  • Track supplements or revisions  to AFE’s with approval tolerances and audit trails
  • Comprehensive reporting on budgets vs. actuals
  • Improve the ability to create accurate capital budget forecasts
  • Provides a complete workflow structure for the AFE budget and supplement approvals

Benefits

Authorization for Expenditure management (AFE) for Dynamics AX 2012 provides the ability to manage the business requirements of tracking and maintaining the scope, estimate and schedule. The solutions allows for an AFE to be linked to more than one cost center as well as having more than one AFE linked to a cost center. Authorization for Expenditure management (AFE) for Dynamics AX 2012 can manage the spending controls on purchase orders to ensure that there is sufficient funds within the AFE before the PO is confirmed with the vendor.

WIP clearing process

The AFE rules allow the business to transfer the AFE costs to one or more Dynamic AX fixed assets.  This will provide continuity controls from the initial purchase to the fixed asset.  It will also manage AFE costs that result in transferring the cost to the operating expenses.

Cost Control

Increases visibility into operations to gain greater control over costs and improve efficiencies of scale

Integrity Control

Configuration controls can be established to ensure that each transaction will be validated to ensure that an AFE is mandatory or not based on the type of activity ensuring the quality of the data for complete reporting of costs.

WBS Modelling

Authorization for Expenditure management (AFE) for Dynamics AX 2012 allows the user to utilize a complex work break down structure to manage the execution of the scope of work for an AFE by allowing one or more cost centers to be associated to the AFE.  In addition, a cost center can have more than one AFE in order to manage the capital life cycle of the assets.