Enter Annual Budgets

OBJECTIVE

Enter Annual Budgets let’s you enter budgets by general ledger account. These budgets can then be printed in the financial statements and serve as a point of comparison with actual results.

To achieve relevant comparisons, budgets should be entered according to filters used in Financial Statement Management.

If the Manage G/L Quantities field is checked in Configuration, budgets can be entered based on quantity. You can also enter unit prices if you activate the Display Unit Prices function by clicking the Configuration icon.

PREREQUISITES

Icons

Icon	Title	Used to
	Display Revenue and Expense Accounts	Display in the upper part of the window the revenue and expense accounts.
	Display Balance Sheet Accounts	Display in the upper part of the window the balance sheet accounts.
	Open GL Accounts Management	Open the Maintenance of poste file window.
	Display Total Budget	Open the Total Budget window in which the revenues and expenses, right hand, and balance sheet, left hand, are displayed.
	Import an Excel File	Launch the utility to import and Excel file.
	Import the Project Budgets	Start importing budgets.

STEPS

maestro* > Accounting > Financial Management > Budget > Enter Annual Budgets

Enter a budget

It is possible to import budgets by using the icon Import an Excel File. Before starting, an import configuration method is needed in the Configuration icon.

Click the Configuration icon and check off relevant information.

The Project Grid section lets you specify the desired level of detail for budget entry. It is thereby possible to enter a detailed budget by department, master project, project type, project category, project, activity and/or group for each general ledger account. It is also possible to use any kind of combination of these fields to enter budgets. If the fields are greyed out, you cannot create a budget for these values. The greyed out fields represent the fields where data cannot be entered based upon the settings in Configuration. A red field shows that values existed in the budget and that the level of detail for this field is no longer checked in configuration. You must therefore correct these incorrect values.

The Import an Excel File makes it possible to configure the user's preferred importing method.

Remove all previous budgets for all accounts and import the new budget.

To begin with, all the year's budgets are deleted, without exception.

The file's content is then imported.

Remove all budgets for accounts in the file and replace them with the new budgets.

To start with, the year's budgets are deleted, but only for the accounts found in the import file.

The file's content is then imported.

Replace budgets corresponding exactly to elements in the file with the new budgets.

The file content is imported.

If some budgets in the file meet the exact specifications of those to be imported (combination of department/master project/project/etc.), they will be replaced by the new imported budgets.

All the other budgets already in the file will be neither modified nor deleted.

Click the icon Display Revenue and Expense Accounts or Display Balance Sheet Accounts depending on the budget to be entered.
Select Active Year.
Enter the information required for each account, by month.

Only the fields in black can be modified.

If the option Allow the automatic distribution of a total annual budget over each period has been activated in the configuration screen, it is also possible to enter a total budget for the year. The system will distribute it automatically among each period. If it is not possible to distribute the budget exactly among each period, the difference will be allocated to the last period or to the total budget, according to the configuration selected in the configuration screen.

It's possible to create an increased budget based on last year's by activating this function in the Configuration icon. All it takes is to fill in the field Increased Rates and to click the icon Create. It's only applicable to the account and identification settings selected. For example, if some budgets were entered by department in the previous year, the departments need to be entered again before using this function.

Click the icon Display Total Budget to get an overview of all the budgets entered.
Click Save.

Importing the Excel file

Please refer to the How-To - Using an Excel Template to Import Data in maestro* to know everything about annual budget imports using an Excel file.

Importing budgets

Click the Import the Project Budgets button.
The Parameter Selection window displays. Select a start and end of date range in the period list.
Click the Accept button.
A message is displayed to inform the user that current project-related GL account budgets will be deleted and recalculated based on monthly project budgets. Click on Yes.

The system will only delete project-related budgets. Budgets created locally will not be affected by this operation.

The is separated in three stages. Progress bars are displayed to indicate the treatment’s progress:
1. The system first determines all GL accounts that can be linked to projects;
2. The system then resets all budgets for all accounts;
3. Finally, the system determines the GL accounts associated with the entered budget.