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Overview
The Budget Management Tool enables Clubs to populate their Budget Ledgers for current/future periods. Use Case A Club would like to input a Budget for their Club for next year so they can set financial targets for their Departments, and compare with their actual results. They would like to import some numbers from an Excel worksheet, and would like to populate other numbers by basing them on a % of this year’s actuals. |
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Navigation
To access the Budget Management tool, click the General Ledger option from the top menu, and then select Budgets from the drop-down list of options.
Create Periods to Populate
Before entering or importing budget data, first create Ledger Periods to populate.
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Once Periods have been created, the Budget can be populated.
Populate Budget Data
Import Budget Data
Oftentimes, Clubs prefer to populate Budget data by importing the values from an Excel spreadsheet.
Import File
The Import File must contain 15 columns made up as follows:
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Exclude commas from the number format; Enter 10000.00 rather than 10,000.00
Every field must be filled in; any periods that do not have budget amounts to import, fill with 0.00. If there is a blank field you will receive an error when you import the budget.
The Account and Department columns must match the system.
Include leading zeros in Accounts or Department code (such as Dept 05)
The Account must be associated with the particular Department in the system.
Enter negative numbers (Credits) as -####.00. (such as -1000.00)
Save the import file will as a .CSV file.
Import Wizard
To import the data contained in the .csv file created above, within the Budget Management tool, click Import Budgets.
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Amounts will also be available for display in the Interactive Reports, Financial Report Writer tool.
Direct Data Entry
In addition to utilizing the Data Import Wizard, numbers may be entered directly into the Budget Management tool to populate the Budget.
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Click in another cell to see results populate.
More Options
In addition to utilizing the Budget Import, or direct data entry, more options to populate the budget appear below.
Click the + to expand and view.
Copy Data
To base a budget on another budget or actuals, select the Copy option, and then fill in parameters to fit needs.
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To populate 2017 Budget numbers based on 2016 Actuals without any adjustment, set parameters to the following, and click This Account or Multiple Accounts to see results.
Set Specific Value
To populate Budget numbers based on a specific value, click on the Set Specific Value radio button, choose Budget, and specify value to populate.
Note that Multiple Accounts feature is not available with this option.
Delete Budget Data
To assist with Data Entry, if improper balances were loaded, utilize the Delete all budget data function to clear out previously populated balances for one or multiple accounts.
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Populated balances will bet set to zero.
Best Practices
To cut down on data entry time, use toolsets such as the Budget Import Wizard, or the tools found in the More Options section.
FAQs
Q. How do I base next year’s Budget on a % of current year actuals?
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Either activate the desired Department for that Account in the Account setup, or modify the Import spreadsheet to reflect an Active department.
Downloadable Guide
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