NextGen Budgeting

Presented by: Julie CarrollLocal Government Corporation

Resource 2014

Three Approaches

1. Manual Transactions

2. Importing Transactions

3. Budget Worksheets

Manual Transaction Approach

Simple

Direct

Enter Debits and Credits

Transaction Process

Some points to remember for the Transaction Process.

Transaction Type: Original Budget

Revenues: Debit

Expenditure: Credit

Budget Offset Account: Fund Balance

Post Budget: Transaction Batches.

Budget Worksheet Approach Allows you to correct data from the prior fiscal year Predict or Enhance current year financial data Enter projections for the coming fiscal year Prepare the budget amounts to be posted to the GL New Budget Features :

User defined budget prep fields Budget projection calculations Budget detail items Excel exporting/importing.

Before You Begin

Create the Budget Fiscal Year

Financial Management

Period End

Create Fiscal Year

Creating Fiscal Year Division: Year to Roll: New Fiscal Year: New FY Description:. Once the selections are made, click

NEXT in the bottom right corner Verify the information is correct

and click FINISH

Responsible Parties

Responsible Parties

Budget Worksheet Views

Responsible Parties

Creating a Budget WorksheetTo create the budget worksheet:

Division: Budget Fiscal Year: Budgeting Method: Build budget fields through Period:Account Controls:

Once selections are made click NEXT

Verify the information is correct and choose FINISH

Amending Current Year Budget

Manual Transactions

Enter as Transaction Type: Budget Amendment

Debits and Credits are reversed.

Must be a balanced entry.

Maintaining & Viewing Budget Worksheet

Financial ManagementBudgetingBudget WorksheetsBudget Fiscal Year

Manually Enter Proposed Amounts

Select desired Budget Prep Field Enter Amount Desired. Tab or Click to next field

Budget Detail Items Tracks Details on Budget ItemsMultiple Detail Lines AllowedTotals Detail Amount

Budget Detail Items

Grand Total Budget Detail

Budget Worksheet Options

The following processes are accessed by clicking on the Options icon in the upper right corner of the ribbon bar from inside the Budget Worksheet option.

Update Budget OPTIONS Update Budget Fields Save Worksheet

Update Budget Account Controls Fiscal Year Budget Fields Period

Add New GL Account

Add Existing GL Accounts

Appropriation ResolutionProvides you with the total Revenue and Expenditure amounts at the Function or Department level.

Appropriation Resolution

Export Options

Appropriation Resolution

Example:

Budget Prep Field Projection

Budget Prep Field Projection Option

Calculates Projections

Update Budget Fields first

Budget Prep Field ProjectionOptions:

Account Types Add Account Segment

Either/OR

Budget Prep Field ProjectionBy Account Segment

Budget Prep Field ProjectionActions Tab Action Source Field Condition Condition Value Destination Field

Actions To Choose From

Average

Actions To Choose From

Clear

Copy

Export/Import Worksheet

The most common use for the export and import options is working on your budget in Excel.

Allows you export data to a file that can be viewed and modified in a spreadsheet. Allows you to import data from a file modified or created in a spreadsheet.

Export Worksheet

Export File Type:Export File Path: Export File Name:

Import Worksheet

Import Worksheet

Budget Worksheet Columns

Match Budget Worksheet Columns to Import Columns

Import Column

Import Worksheet

GL Accounts fieldSegments

GL Account Numbers

Import Worksheet

Amount columns to import:

You can only import amounts into the Budget Prep fields that are not calculated. Default budget prep fields are Department Request, Budget Committee and Commission

Approved You can import amounts from your spreadsheet into 1 of these fields, or into all 3 of the

fields.

Post Budget

From the ribbon bar, click Options

Post Budget

Using the information you’ve entered, imported, or calculated into your Budget Worksheet, the Post Budget option processes that information to your General Ledger.

Post Budget

Select Account Control or ControlsChoose the budget prep field Click NEXT

Post Budget Date: Period: Transaction Type: Original Budget Description: Reference Internal Notes:

Post Budget Summary

Once you have posted the Budget you may go to the Reports Menu and print a Journal Listing of the Original Budget Transaction that you just posted.

During the Budgeting Process there are several Budget Reports that you may print from the Reports Menu. The Budget Worksheet must be created for these reports to run.

The budget worksheet may be deleted by the LG admin user if the budget has not been posted.

The option for Importing the CTAS budget file is available. Contact support for help with this.

Final Thoughts

NextGen Budgeting

Thank You, This completes the budget presentation.