Create Budgets

Use the Budgets screen to create budgets for G/L Accounts.

Pre-Requisites

1. G/L Accounts

Step-by-Step Guide

1. Ledger > Budgeting

Open

2. Click New.

Open

3. Specify a Budget Name. For example: 2024 Budget

4. Specify a Fiscal Year option. For example: 2024 and then then place a check mark in the Finalized box.

5. Optional: Specify a Description value.

6. Click Budget Method.

7. If an option under Budget Method List does not exist:

8. Click Insert

9. Specify a Company value. For example: 01

10. Specify a Fiscal Year value. For example: 2024

11. Specify the No. of Periods in the Fiscal Year. For example: 12

12. Specify the No. of Day in the Fiscal Year.

Note: This process takes the total days for the year and determines how much of the year total dollars is applied to each period. For example: 365

13. For each Period in the No. of Weeks in Each Period column, specify a value.
    Note: This process takes the total weeks for the year and determines how much of the year total dollars is applied to each week. You only need to specify rows for the # of Periods that you have.

For example:

1. Period 1 = 4 weeks 

2. Period 2 = 4 weeks

3. Period 3 = 4 weeks

4. Period 4 = 4 weeks

5. Period 5 = 4 weeks

6. Period 6 = 4 weeks

7. Period 7 = 4 weeks

8. Period 8 = 4 weeks

9. Period 9 = 4 Weeks

10. Period 10 = 4 weeks

11. Period 11 = 4 weeks

12. Period 12 = 4 weeks

14. For each Period in the No. of Days in Each Period column specify a value.

For example: 

1. Period 1 = 30 days

2. Period 2 = 28 days

3. Period 3 = 35 days

4. Period 4 = 28 days

5. Period 5 = 28 days

6. Period 6 = 35 days

7. Period 7 = 30 days

8. Period 8 = 30 days

9. Period 9 = 30 days

10. Period 10 = 31 days

11. Period 11 = 31 days

12. Period 12 = 31 days

NOTE: The user defined methods is custom that uses percent for each period of the year total. This percent is used to calculate how much of the year total dollars are allocated to each period.

15. Click OK.

**If you already have a budget specified in an excel spreadsheet, you can import a budget as well.

16. From the budget filter. Click the Import File button.

17. Browse to the location on your computer or network to the Excel file. Select the option of "Excel Files 2007" under the Files of Type option at the bottom of the window. Click Open.

18. If all the GL accounts are valid. Data to be imported is displayed. The data from the file should now be displayed in an Import Budget screen. Review the data for accuracy. Click Import.

19. Click OK to the Importing Data Is Successful message.

20. Click Close.

21. Click Save.