Budget Standard Rate Maintenance

Menu Path: General Ledger $Images\bluerarw.gif$ Budgets $Images\bluerarw.gif$ Budget Standard Rate Maintenance

Purpose

Define new standard rates.
Update existing standard rates.
Update budgets to reflect updated standard rates.

Overview

Budget Standard Rate Maintenance is a useful tool for generating budget data based on a rate applied to a statistical account. A standard rate is a combination of a statistical amount and a unit of measure, and can vary from period to period. For example, a common standard rate for labor is dollars/hour ($/hr), and kilowatts/hour for utilities. These rates can fluctuate during the year.

Defining Standard Rates

To define a standard rate:

If your company uses consolidation ledgers, verify the ledger ID for which you want to define a standard rate is entered in the Ledger ID field.
Enter a name for the standard rate in the Rate Definition field.
Enter a unit of measure for the standard rate in the Unit of Measure field.
Enter a description of the standard rate in the Description field.
Enter the rate for each accounting period.
Click the OK button in the ribbon to save the rate definition.

To update a standard rate, enter it in the Rate Definition field, make adjustments, and click the OK button in the ribbon to save the changes. If you linked the standard rate to a budget in Budget Data Maintenance, you are asked if you want to automatically apply the new rates to budgets. If you confirm, the Apply to Budgets button is enabled, and you can select one or more budgets in the Budgets grid for updating. Clicking the Apply to Budgets button updates the budgets, and a dialog box appears, and informs you of how many budgets were successfully updated.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the Budget Standard Rate Maintenance window.
OK	Click this button to save the budget standard rate definition.
Cancel	Click this button to clear the entered information.

General Tab Fields and Buttons

Field or Button	Description
Rate Definition	Enter a budget standard rate, or click the Lookup button to select a budget standard rate.
Unit of Measure	Enter a unit of measure for the budget standard rate. This can contain any value and is informational only. The software assumes that the units of measure for the rate and the statistical account are the same. Example $/hr or ¢/#
Ledger ID	Enter a ledger ID for the budget standard rate, or click the Lookup button to select a ledger ID. Note This field is only available if at least one consolidation ledger is set up.
Description	Enter a description of the budget standard rate.
Jan-December	Enter the actual rate figures for each month. The rates can be positive or negative.
Budgets	This grid displays a list of defined budgets. Select the budgets to which you want to apply an updated budget standard rate.
Apply to Budgets	Click this button to apply a budget standard rate to any or all of your budgets. You can select the budgets you want automatically recalculated. This button is only enabled after you edit rates for a selected budget standard rate.