Budget

Creating a New Budget

1. Open the Financial Center.

2. In the sidebar menu click Views > Budgets.

3. Click New Budget on the toolbar.

Complete the fields as indicated in the table below, and then click Create Budget.

Field/Option	What is this?
Division	Select the division for which you want to create a budget. This is a required field. This selection is only visible if Use Different Fiscal Years by Division is checked in Agency Setup. If you have divisions with different fiscal year ends you need to prepare and save budgets for each division separately.
Fiscal Year	Select a fiscal year from the list for which you want to create a budget. This is a required field.
Description	Type in a descriptive name for the budget, such as 2005 Budgets. This is a required field.
Budget Setup Options	Option What is this? New Blank Budget This option allows you to enter desired amounts for each account, without using existing system amounts as a template. Copy from Actual This option fills the budget with actual amounts from the fiscal year selected in the list. Once the budget is created, amounts can be adjusted. Use this option if the prior year actual numbers were higher than the prior year budgeted numbers and you want to base the new budget on the prior year actual amounts. Copy from Budget This option fills the budget with budgeted amounts from the fiscal year selected in the list. Once the budget is created, amounts can be adjusted. Use this option if the prior year actual numbers did not reach the budget projections and you want to build the new budget based on prior year budget amounts rather than actual results.
Create Budget	Click this button to populate the Budgets for Fiscal Year by [Activated Business Units] section. If Divisional Control in Agency Setup > Accounting Options is not activated the grid contains a grid row for every potential business unit combination so that a complete budget for the fiscal year can be created in one form. When Division Control in Agency Setup > Accounting Options is activated only the business unit combinations for the division selected in the Budget Setup Information section appear in the grid, since the fiscal year ends for each division could be different. Saving a separate budget for each division is required. Sample results after clicking the Create Budget button in the Budget Setup Information section:   Column names, also known as column headers, contain references to those business units activated in Business Unit Setup. Grid rows are created for all possible business unit combinations during Create Budget, but rows for business units not included in the budget being prepared can be deleted.

1. After clicking Create Budget to create a row in the Budgets for Fiscal Year by [Activated Business Units] section grid for each business unit combination, only those business unit combinations for which you have security access appear in the grid.
   
   
2. Each row of the grid contains the following information.

Field	What is this?
Status	For a newly created budget, the status is In Progress. As budgets are completed for a business unit combination, select Completed from the status list.
Business Unit	A column appears in the grid for each activated business unit combination (division, branch, department, and/or group) as defined in Business Unit Setup.

3. Highlight a row in the grid and click Edit to open the budget grid for a business unit combination to allow for adjustment of account amounts.

In Edit mode, there are two main methods for entering budget data. You can use either or both methods in combination to enter data into fiscal period (P1Jan) amount fields. The Select Grid Rows and Adjust Budget Amounts method described below can streamline data entry by building on available data rather than entering all amounts individually.

As edits are completed on each business unit row you should change the Status column on the row to Completed. In this way, if you Save & Close the budget to return to it later, you know where you left off in the editing process.