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Maintaining Budget COA Profiles

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File > Financial Setup > Budget COA

Mandatory Prerequisites

There are no Mandatory Prerequisites related to creating Budget COA Profiles.

Screenshot and Field Descriptions

 

Budget COA: this is the primary identifier for the Budget COA Profile.

 

Name: this is the friendly name given to the profile.

 

Details table: this table displays the settings of how the budget is calculated from past data.

Previous Year(s): this is the number of past years that amounts should be drawn from. If it is anything greater than 1, the amounts will be averaged out. Alternately, the Base Year check box can be used.

 

Base Year: this check box allows the user to select a year from the drop down list to get the budget amounts from.

 

Period From: this is the accounting period starting range that the budget should be drawn from. By default, this is set to accounting period 1.

An extra year will need to be added to the Previous Year(s) field to get a past date range. Example of how the Period From field works in relation to the Previous Year(s) field are stated below:

Budget Year = 2020

 

  Example 1 Example 2 Example 3 Example 4
Previous Year(s) 1 2 2 3
Period From 1 1 7 7
Amounts Range 2019/1 - 2019/12 2018/1 - 2019/12 2018/7 - 2019/6 2017/7 - 2019/6

 

Source: this refers to selecting the type of source to derive the amounts. The options are:

 

Source - Primary: this is the primary selection area of the database to source the amounts from. The options are:

 

 

Source - Secondary: if Primary amounts do not exist, then the amounts will come from the secondary option. For example, if budgeting for the next year occurs before the end of the year then get Forecast amounts as Actual amounts will not exist for the last few periods before the end of the year. The options are:

 

 

Apportion: this refers to how the budget amounts can be apportioned across the periods in the budget year. The options are:

 

 

Percent: this is the percentage rate to increase or decrease the budget amount from the past data.

 

Minimum: this is the minimum amount to use for the budget.

 

Maximum: this is the maximum amount to use for the budget.

Apply: this is the selection for applying the settings to all Properties or to specific Accounts and Properties.

All: this option is selected by default and the above settings apply to all Accounts and Properties.

 

Selection: this check box is selected if individual settings are required for Accounts or Properties. The options are:

 

  • Account: this is the type of account to apply the settings for.
  • Property: this is the property to apply the settings for.

How Do I : Add a new Budget COA Profile

  1. At the Budget COA field, enter a new Budget COA ID.
  2. In the Name field, enter the name of the Budget COA Profile.
  3. At the Previous Year(s) field, enter the number of past years that the amounts need to be drawn from. Alternatively, tick the Base Year check box to select a year from the drop down list to get the budget amounts from.
  4. At the Period From field, enter the accounting period starting range that the budget should be drawn from. By default, this is set to accounting period 1.
  5. At the Source - Primary / Secondary drop down list, select the area of the database to source the amount from.
  6. At the Apportion drop down list, select the required option to apportion the budget amounts across the periods in the budget year.
  7. At the Percent field, enter the required percentage to increase or decrease the budget amount from the past data.
  8. At the Minimum field, enter the minimum amount to use for the budget.
  9. At the Maximum field, enter the maximum amount to use for the budget.
  10. At the Apply field, the user has the following options:
    1. Select the All check box to apply the settings to all Properties and Accounts.
    2. Else, tick the Selection check box if individual settings are required for selected Properties or Accounts.
    3. If the Selection check box is ticked, then at the Account and Property fields, select the required Account and Property types to apply Budget COA Profile settings and enter the Account and Property.
  11. Click the Right Hand Side Application tool-bar push button: Add.
  12. Repeat these steps to add more lines to the Budget COA Profile.
  13. Click the Left Hand Side Application tool-bar push button: Change.
  14. Confirm that you wish to add the record.
  15. Refer to Adjusting the Budget COA Profile for an individual COA for field descriptions on how to configure the Budget COA Profile for an individual COA.

How Do I : Modify an existing Budget COA Profile

  1. At the Budget COA field, enter a Budget COA ID.
  2. In the Name field, change the name of the Budget COA Profile.
  3. For the maintenance of the Details Line items, the user has the following options:
    1. Add a new Details Line item by selecting values for the fields in the Details table and clicking the Right Hand Side Application tool-bar push button: Add.
    2. Change an existing Details Line item by double clicking a line in the Details table and changing the values for the fields as required and clicking the Right Hand Side Application tool-bar push button: Change.
    3. Delete an existing Details Line item by double clicking a line in the Details table and clicking the Right Hand Side Application tool-bar push button: Delete.
    4. If any Details Line item needs to be cleared, click on the Right Hand Side Application tool-bar push button: New.
  4. Click the Left Hand Side Application tool-bar push button: Change.
  5. Confirm that you wish to change the record.

How Do I : Delete an existing Budget COA Profile

  1. At the Budget COA field, locate the profile.
  2. Click the Application tool-bar push button: Delete and confirm that you wish to delete the record.

Related Topics

Budget COA Profiles are associated with the following Topics: