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Maintaining Budget / Forecast

• The Budget / Forecast screen allows users to enter the Budget and Forecast amounts.
• Budget / Forecast amounts can be automatically loaded by:
• Copying the figures from the Budget Preparation to the Budget / Forecast screen.
• Using the Robot.

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Mandatory Prerequisites

Prior to entering Budget / Forecast records, refer to the following Topics:

• Budget Group - Maintaining Groups (Generic)

• Chart of Account - Maintaining Chart of Accounts
• Chart of Account Security (All) - Maintaining Chart of Accounts Permits - All
• Cost Code - Maintaining Cost Codes

• Property - one of Owner, Land, Building, Section, Suite, Annexe or Lease is required.

Screenshot and Field Descriptions

Year: this is the year to enter the Budget for.

 

Group: this determines the Group that the Budget / Forecast belongs to. Groupings are useful in searches and reports.

 

COA: this is the Chart of Account for the Budget / Forecast.

 

Cost Code, Lease, Annexe, Suite, Section, Building, Land, Owner: these selection fields are optional and can be used to enter the Budget / Forecast for. The Owner field is required to be entered, in order to enter the Budget / Forecast.

Screenshot and Field Descriptions: Budget Tab

Apportion: this is the total amount of the Budget for the year.

 

Equally: tick this check box to divide the total Budget amount equally across all accounting periods.

 

By Days: tick this check box to divide the total Budget amount based on the number of days in the accounting periods.

 

Lock: this is the check box to lock the Budget amounts for the year.

 

Budget table: this table displays the Budget amount entered for each accounting period within the year.

 

Comments: this is the field to input additional comments for the accounting period.

Screenshot and Field Descriptions: Forecast Tab

Apportion: this is the total amount of the Forecast for the year.

 

Equally: tick this check box to divide the total Forecast amount equally across all accounting periods.

 

By Days: tick this check box to divide the total Forecast amount based on the number of days in the accounting periods.

 

Lock: this is the check box to lock the Forecast amounts for the year.

 

Forecast table: this table displays the Forecast amount entered for each accounting period within the year.

 

Comments: this is the field to input additional comments for the accounting period.

Screenshot and Field Descriptions: Comparison Tab

Comparison table: this table displays the comparison between the Budget, Forecast and Actual amounts.

 

Budget: this column displays the Budget amount for each accounting period.

 

Forecast: this is column displays the Forecast amount for each accounting period.

 

Actual: this column displays the actual transaction amount for each accounting period.

 

Actual +: this is column displays the actual transaction amount for each accounting period if available. If the transaction amounts do not exist, the Forecast amounts will be displayed.

 

Totals: this is the sum of the Budget and Forecast amounts entered.

 

Variances: this is the difference between the Budget and Forecast amounts.

 

Current Period: this is the current Accounting Year and Period.

Screenshot and Field Descriptions: Comparison (Chart) Tab

Comparison (Chart) table: this table displays the comparison between the Budget, Forecast and Actual amounts in a graph.

How Do I : Add a new Budget / Forecast

1. At the Year field, enter the year for the Budget / Forecast to be entered.
2. At the Group field, locate the Budget / Forecast Group you would like to assign this Budget to.
3. At the COA field, enter the COA for the Budget / Forecast.
4. At the Cost Code field, enter the cost code for the Budget / Forecast if required.
5. At the Lease field, if required, enter the lease.
6. Enter values in the Annexe, Suite, Section, Building, Land, Owner fields, if required.
7. On the Budget tab:
   1. At the Apportion field, enter the total Budget amount.
   2. Tick the Equally check box to divide the Budget amount equally for all accounting periods, or tick the By Days check box to divide the Budget amount depending on the number of days in each accounting period.
   3. At the Comments column, enter any additional comments related to the Budget record for each accounting period using the Comments field.
   4. Tick the Lock check box to avoid any further changes to the Budget records.
8. On the Forecast tab:
   1. At the Apportion field, enter the total Forecast amount.
   2. Tick the Equally check box to divide the Forecast amount equally for all accounting periods, or tick the By Days check box to divide the Budget amount depending on the number of days in each accounting period.
   3. At the Comments column, enter any additional comments related to the Forecast record for each accounting period using the Comments field.
   4. Tick the Lock check box, to avoid any further changes to the Forecast records.
9. Click the Application tool-bar push button: Add.
10. Confirm that you wish to add the new record.

How Do I : Modify an existing Budget / Forecast

1. At the Year field, locate the year for the Budget / Forecast.
2. At the Group field, locate the Budget / Forecast Group you would like to assign this Budget to.
3. At the COA field, enter the COA for the Budget / Forecast.
4. At the Cost Code field, enter the cost code for the Budget / Forecast if required.
5. At the Lease field, if required, enter the lease.
6. Enter values at the Annexe, Suite, Section, Building, Land, Owner fields, if required.
7. On the Budget tab:
   1. At the Budget column, change the Budget amounts as required.
   2. At the Comments column, change any additional comments related to the Budget record as required.
8. On the Forecast tab:
   1. At the Forecast column, change the Forecast amounts as required.
   2. At the Comments column, change any additional comments related to the Forecast record as required.
9. The Comparison and Comparison (Chart) tabs will display the amounts in the Budget, Forecast, Actual and Actual + columns as per changes made in the Budget and Forecast tabs.
10. Click the Application tool-bar push button: Change.
11. Confirm that you wish to change the record.

How Do I : Copy Budget to Forecast

For copying Budget to Forecast, if a Year is selected and the other fields are left empty, the Budget amount will be copied to the Forecast for the whole year. If a COA is selected, the Budget amount will be copied to the Forecast for the selected COA only.

1. Select / search for the existing Budget / Forecast.
2. Click the Application tool-bar push button: Copy .
3. Confirm that you wish to change the record.

How Do I : Delete an existing Budget / Forecast

1. Select / search for the existing Budget / Forecast.
2. Click the Left Hand Side Application tool-bar push button: Delete.
3. Confirm that you wish to delete the record.

Related Topics

Budget / Forecast is associated with the following Topics:

• Budget / Forecast Group - Maintaining Groups (Generic)

• Chart of Accounts - Maintaining Chart of Accounts
• Cost Code - Maintaining Cost Codes

• Owner - Maintaining Owners
• Land - Maintaining Land
• Building - Maintaining Buildings
• Section - Maintaining Sections
• Suite - Maintaining Suites
• Annexe - Maintaining Annexes
• Lease - Maintaining Leases

• Budget COA Profile - Maintaining Budget COA Profiles
• Budget COA Profile - Adjusting the Budget COA Profile for an individual COA
• Budget COA Link - Maintaining Budget COA Link
• Budget Preparation - Running the Budget Preparation Process
• Lease Charge Projection - Running the Lease Charge Projection Process

• Budget Listing Report - Printing Budget Listing Reports