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Creating budget worksheets

Budget worksheet

Note: It is recommended to build worksheets by source and/or depts. etc so that they are easier to work with. But, you can create one large

worksheet and then filter the data to build the worksheet.

You can also go to Activities>Budget

worksheet from the top menu

Note: You can also enter budgets

through Transactions enter budgets

either manually or by importing the

data

After creating a worksheet name, tab out of the field to

launch the wizard.

Note: Give your worksheet a meaning name such as: YR-

source (1314HUD)

Budget Version: Select a budget version from the drop-down list.

Note: Additional Budget Versions can be created using Administration>Organization>Set Up Modules>Budget>Budget Versions .

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Worksheet Type: Select New Worksheet or Revisions Worksheet.

For New budgets - select "New Worksheet" as the worksheet type.

For Revisions Worksheet- select "Revisions Worksheet". This worksheet will contain existing posted budget items and a column to enter budget adjustments.

Budget Effective Dates:

From - Enter the beginning effective date for the budget worksheet (the date the budget fiscal period begins). It is used as the effective date for annual budget entries generated using the Budget Worksheet wizard.

To - This date (when the budget period ends) is automatically calculated based on the "From" date and the Budget Cycle.

Budget Cycle: It determines the number of budget column entries created on the worksheet.

Monthly, Quarterly, Yearly - Indicate the budget cycle interval in which budget items appear on the worksheet. .

Number of Cycles - Enter the number of cycles for the budget to calculate the "To" date, or accept the default as 12 (Monthly), 4 (Quarterly), or 1 (Yearly), based on a 12 month calendar year. You can also budget for periods greater then 12 months.

(Optional ) - Use this panel to create up to two comparative columns in your worksheet, using actual data or a Budget Version as your Column Type. Column Type: Select a budget comparative from the drop-down list. Selections include actual amounts, original and revised budgets as well as any budget versions created using Administration>Organization>Set Up Modules>Budget>Budget Versions . “Final” is an example of a custom budget created. Begin Year: Enter the year to begin the actual entries or accept the default. The system uses the previous panel to determine the Month, Date, and Ending Year, and uses the previous Budget Effective Date year as the default. Column Heading: Enter a name for the column heading to appear on the worksheet or accept the default.

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Activity Basis - ACT (Accounts with Activity) - includes accounts that have

posted activity (either Budget or Actual) when populating the worksheet.

- - ALL (All Valid Accounts) - includes all accounts regardless

of activity (either Budget or Actual) when populating the worksheet.

- - BLANK (Blank Worksheet) - stops the wizard and creates

a worksheet with column headings and allows you to enter data manually in the rows.

Note – In the first year using MIP to create your budgets, use ALL. In subsequent years you can use ACT and use the next panels to look back and gather data for the worksheet.

Use this panel to select the segments that you want to budget for. The General Ledger segment is always selected but you can select as many or as few segments needed for the organization. These segments become columns on the budget worksheet.

Note- you do not need to select all segments. You only need to budget at the level in which you want to produce budget to actual reports.

Use this panel to limit the budget to a certain set of account codes, for any of the segments included on the current budget worksheet. For example you may want to filter for a certain department or source/grant.

Please note that this panel is optional; you do not have to use the filter. However, you may want to limit what goes into a budget worksheet if you have a large number of account code combinations. Remember, the system creates one budget item for each account code combination for every budget cycle.

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Calculation Basis: Because the budget is calculated using historical data, indicate whether to create the new budget based on actual activity (actual account balances) or budget activity (budget balances).

Actual, Budget - Select the type of activity, either Actual (actual account balances) or Budget (budget balances).

Budget Version - If "Budget" activity is selected, select a Budget to base the budget entries.

Calculation Method: Select one of the following methods to use to calculate the budget:

Average of History - The system calculates the average amount for all the periods included in the history and inserts the average into each budget period. The average is calculated by adding the amounts from each period and dividing the sum by the total number of periods. Thus, the amounts in each budget period are equal.

Period Matching - The system matches amounts from the corresponding historical period.

Most used method:

Zero Budget - The system creates a zero amount budget line for each account combination that contains history (actual or budget depending on the basis selected). This method is usually used if you want the system to generate the account combinations only; you would manually enter the monetary amounts.

Number of History Cycles: Enter the number of months of historical data to be used in the budget calculation or accept the default. On the previous panel, if "Period Matching" was selected as the calculation method, the system displays the number of History Cycles for you.

Begin date of historical range: Enter the beginning date of the historical range to be used.

Beginning Date, Ending Date: The system takes the Number of History Cycles and the Budget Start Date and automatically determines the Beginning and Ending Dates used to gather historical data for the budget worksheet

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Put amount in the spread total

column & tab out to spread

across the months evenly.

OR

Enter amounts in each month

separately to build your total

You can add comments. These will show on: - Transaction reports>Posted/unposted budget reports - Budget Analysis>Detail budget/actual transactions

This will populate with the “short” titles of your chart of

account codes.

Use this panel to review the number of entries to be generated based on the selections made in the wizard.

Click Finish/Save to create a budget worksheet based on the options selected.

Note: if budget entries = 0, select the <Back button to review your choices.

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Creating totals:

Important: There should be no “B” on line 6 as this is just a memo line Formula is =Sum(P3..P5)

To add/delete rows – highlight the row and right click to

get drop down menu. Select insert or delete. A box will

pop up asking you how many rows to insert.

Enter formula then tab out of the field to see results

Note: refresh row to recalculate

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You can create totals for both revenue & expenses to

check your work

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Should you have transferred in error or find you have mistakes once you review the edit report below, you can

delete that budget session, copy the budget worksheet, make your changes and retransfer.

Transferring to the general ledger - When you have

finished, select transfer to create the unposted budget

transactions in the general ledger

Session ID – suggested format should include, year,

month, day, transaction source, initials and an incremental

number at the end. For example: 110701BDNP-01.

Beg Document no. Not an important field in budgeting.

You should end the document number in 01. The budget

transfer wizard will create one document for each month

in the worksheet and increment this number. (January =

Sample-01, February = Sample-02, December = Sample-12)

Document date – this is NOT the posting date. The

transfer wizard will post on the first day of each month in

the worksheet. This date might be the first day of your

fiscal year as a suggestion.

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Note: Once transferred this worksheet can no longer be edited, but you can copy it and then edit the copied version

and retransfer.

Viewing the unposted entry (optional)

Viewing unposted transactions report before posting:

The entry is transferred to

Transactions>enter budgets in 12 separate

monthly transactions. One document for

each column in the workbook.

Effective date = 1st day of month of each column.

Descriptions follow from the budget worksheet

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Content tab:

You can select a default report to start with then customize. Default reports are in

brackets: <report name>

Use the mover arrow to move

GL code to the first position Select the check total box

FILTER TAB - Go to the filter tab, move budget session

over to the right and select your session from the drop

down

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When trying to print the report you may get the following

message as you started with a default report and if you make

changes you need to rename the report. Go to set up tab and

name the report for it to print to screen. You do not need to

save the report if you do not want.

Summary report – to get, move these 3

columns back to the left and unselect

show total for GL code

Detail unposted budget transaction report

sample

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Budget Financial Statements

Note - You can now post the budget

transaction to view on reports. Go to

Activities>manage sessions> post or use

the post icon on the budget screen

Note: Some reports allow you to see the

budget before posting. See options tab

This should be the current fiscal year in

both boxes

Summary unposted budget

transaction report sample

Creating financial statement formats is covered

in a separate training. Use a detailed format if

possible so you can see each line item.

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Content tab:

Current period vs YTD columns – how the dates are determined

Items by page - Move over the items you want by

page. Here a page for each source is selected

Move over the columns you want on the report

Move

columns

up/down

with this

button

Dates used for column “current period actual or budget”

Dates used for “current year actual or budget

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Filter Tab: filter the report if needed

Option Tab

Lay out tab

You must change the Total budget dates each year

Note: before you post your budget you can view it on this report.

Layout tab –

this is where

you change

orientation

and margins

and you can

also change

the font

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Sample budget to actual report