Budget with Rates

Menu Path: None

To use Budget with Rates, click the By Rate button in the ribbon in Budget Data Maintenance.

Purpose

Link a budget to a budget standard rate and statistical account.

Overview

Use Budget with Rates to link a selected budget to an existing standard rate and statistical account budget. If a budget depends on a standard rate applied to a statistical account, then you can link it to the rate. For example, if a statistical account tracks head count and the rate is used to calculate wages, then linking the budget to the rate can be useful, especially if the rate is subject to change. If your budget is linked to a rate, you are given the opportunity to automatically apply a newly updated rate to the budget.

Note You must set up a budget for the statistical account and a standard rate before you can link a budget. Set up the budget for the statistical account in Budget Data Maintenance. Set up the standard rate in Budget Standard Rate Maintenance.

To link a budget to a statistical account and standard rate:

Enter a statistical account number in the Statistical Account field. The budget for the statistical account must have been previously set up.
Enter a standard rate in the Rate Definition field. The budget amounts are calculated and display for each accounting period in the Budget Amount fields.
Click the OK button in the ribbon.
Click the OK button in Budget Data Maintenance to save the budget data.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the Budget with Rates window.
OK	Click this button to link the budget to the selected statistical account and standard rate.
Cancel	Click this button to clear the entered information.

Lookup Tab Fields and Buttons

Field or Button	Description
G/L Account	This field displays the selected general ledger account number.
Ledger ID	This field displays the ledger ID for the selected budget. Note This field is only available if at least one consolidation ledger is set up.
Statistical Account	Enter a statistical account, or click the Lookup button to select a statistical account.
Budget	This field displays the selected budget.
Stat. Description	This field displays the description of the selected statistical account.
Rate Definition	Enter a budget standard rate, or click the Lookup button to select a budget standard rate. For information on setting up budget standard rates, see Budget Standard Rate Maintenance.
Unit of Measure	This field displays the unit of measure for the selected budget standard rate.
Rate Description	This field displays the description of the selected budget standard rate.
Quantity	These fields display the quantities from the budget for the selected statistical account. The budget for the statistical amount must have been previously set up.
Rate	These fields display the rate amounts for the selected budget standard rate.
Budget Amount	These fields display the budget amount, which is calculated as the statistical account budget quantities multiplied by the standard rate amounts.