Budget Data Maintenance

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

Purpose

Enter and copy budget data.
Modify data by a percentage.
Compare budgets.
Link a budget to a user-defined standard rate.

Overview

Use Budget Data Maintenance to enter budget data for general ledger accounts. Each general ledger account can have several different budgets with unique budget definitions. You can compare a budget or copy data from a second budget. The window display budget information for the selected budget, the comparison budget, and the difference between the two budgets.

Entering Budget Data

To enter budget data:

If your company uses consolidation ledgers, verify the ledger ID for which you want to enter budget data is entered in the Ledger ID field.
Enter the general ledger account for which you want your budget to apply in the G/L Account field.
Click the Lookup button at the right of the Current Budget field to select the budget for which you want to enter data.
Select a method for entering budget data. Leave the By Period Amount radio button selected if you want to enter a budget amount for each accounting period separately. If you use this method, the software calculates the percentages and total. If you want to instead enter a total budget amount and then assign percentages to each accounting period, select the By Period Percent radio button. If you want to assign an equal percentage of the total to each accounting period, select the Evenly Spread radio button.
Enter the budget amounts, percentages and total, or total based on the method you selected in step 4.
Click the OK button in the ribbon. The budget is created for the selected general ledger account.

You can edit the budget data at any time. You can edit the data manually using one of the budget methods, or you can copy from another budget or modify the budget by a percentage. Click the OK button in the ribbon to save any changes to the budget.

Copying Budgets

You can also enter budget data by automatically copying data from an existing budget into your current budget.

To copy a budget:

If your company uses consolidation ledgers, verify the ledger ID for which you want to copy budget data is entered in the Ledger ID field.
Enter the general ledger account for which you want your budget to apply in the G/L Account field.
Click the Lookup button at the right of the Current Budget field to select the budget for which you want to enter data.
Click the Lookup button at the right of the Comparison Budget field to select the budget from which you want to copy data.
Click the Copy button in the ribbon.
Click the OK button in the ribbon. The budget is created for the selected general ledger account.

You can also use Budget Data Copy Utility to copy budgets.

Modifying Budget Data by a Percentage

You can modify budget data by a percentage by clicking on the % Modify button in the ribbon. This opens Budget Percentage Modify, which allows you to define the percentage.

Comparing Budgets

You can compare your current budget with another existing budget and view the difference in amount and percentage. This can be useful if you want to compare budgets from two different time frames; for example, a 2021 budget and a 2020 budget.

To compare budgets:

If your company uses consolidation ledgers, verify the ledger ID for which you want to copy budget data is entered in the Ledger ID field.
Enter the general ledger account for which you want your budget to apply in the G/L Account field.
Click the Lookup button at the right of the Current Budget field to select the budget for which you want to enter data.
Click the Lookup button at the right of the Comparison Budget field to select the budget from which you want to copy data. The difference between the two budgets is automatically calculated and displayed.

Linking a Budget to a Standard Rate

If your budget depends on a rate applied to a statistical account, then you can link it to a standard rate. For example, if the statistical account keeps track of 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.

If you want to link the current budget to a standard rate, click the By Rate button in the window. This opens Budget with Rates, which allows you to select a statistical account and rate. The software calculates the budget amount by multiplying the quantity in the statistical account with the standard rate values. If you link a budget to a rate, Linked to RATE appears to the left of the Budget Locked check box in Budget Data Maintenance. To save the link, you must click the OK button in the ribbon in Budget Data Maintenance.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the Budget Data Maintenance window.
Copy	Click this button to copy the comparison budget data to the current budget.
OK	Click this button to save the current budget for the selected general ledger account.
Show Data	Click this button to refresh displayed budget data.
% Modify	Click this button to display Budget Percentage Modify, which allows you to modify the budget data for the current account by a percentage.
By Rate	Click this button to display Budget with Rates, which allows you to link the selected budget to a standard rate.

General Tab Fields and Buttons

Field or Button	Description
G/L Account	Enter a general ledger account number for which you want to enter budget data, or click the Lookup button to select a general ledger account number.
Type	This field displays the type of selected general ledger account.
Ledger ID	Enter a ledger ID for which to enter budget data, 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.
Account Description	This field displays the description of the selected general ledger account.
Budget Method	Select a method for entering budget data. Select one of the following: By Period Amount - Enter amounts for each individual accounting period. By Period Percent - Enter a total budget amount and indicate the percentage for each accounting period. The total percentage must equal 100 for the year. Evenly Spread - Enter only a total budget amount. The software assigns an equal percentage of that amount to each accounting period.
Current Budget	Click the Lookup button to select a budget you want to update. For information on creating budgets, see Budget Maintenance.
Comparison Budget	Click the Lookup button to select a budget you want to compare with or copy to the current budget.
Budget Locked	This check box is selected if the selected budget is locked. You cannot edit locked budgets. You can lock or unlock a budget in Budget Lock Maintenance.
Budget Amount (Accounting Periods)	Enter the amount of the budget for each accounting period. This field is only enabled if you select the By Period Amount radio button.
% (Accounting Periods)	Enter the percentage of the budget allocated for each accounting period. This field is only enabled if you select the By Period Percent radio button. If you select a different budget method, these fields display the calculated percentage allocated for each accounting period.
Budget Amount (Accounting Periods)	These fields display the budget amounts for each accounting period for the comparison budget.
% (Accounting Periods)	These fields display the budget percentages for each accounting period for the comparison budget.
Budget Amount (Accounting Periods)	These fields display the difference between the current and comparison budget amounts for each accounting period.
% (Accounting Periods)	These fields display the percentage difference between the current and comparison budgets for each accounting period. These fields are calculated as: (current budget amount - comparison budget amount ) / comparison budget amount * 100%
Total	These fields display the total budget amounts and percentages. If you select the By Period Percent or Evenly Spread radio button, enter the total amount budgeted for the account for the year in the first field.