GL Budget Setup - Budget Amounts field descriptions
Fields are presented in alphabetical order within each section.
General
- Annual Budget
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Specify an annual budget amount. Specifying an annual budget amount is optional. If you specify an annual budget amount, it can be used in combination with the Even Allocation calculation method to calculate the period budget amounts. You can specify a negative annual budget amount, even for account codes with credit balances. Credit balance accounts are shown with negative values in GL Financial Statement Setup and on the GL Financial Statements Report.
Period amounts do not have to add up to the annual budget amount. After a revision is added with an annual budget, changing the annual budget thereafter has no effect on the period amounts.
- Calculation Methods
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Use this field and the button to automatically calculate the period budget amounts based on your selection. Select one of these calculation methods :
- Even Allocation
Select this option to equally divide the annual budget amount across 12 or 13 periods even if a previous allocation of the budget existed. You can only use this option if there is a value in the Annual Budget field.
- Last Revision
Select this option to copy the budget from the last revision number to the current revision number. The last revision number is the one previous to the revision number on this record. It may not be the last or highest revision that exists. The revision number that is copied is displayed at the bottom of the window.
- Percent Change
Select this option to change the budget amounts for the 12 or 13 periods by a specific percentage. Specify the percentage by which you want to increase or decrease each budget period.
- Prior Year
Select this option to copy the last budget revision from the previous year to the budget for the year that is designated on this record. The budget is copied from the last revision number from the previous year even if a budget currently exists for this record.
- Even Allocation
- Calculate
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After you specify all values in the General section, click and the allocated period amounts are shown in the Budget Amounts grid. You can verify the budget amounts and make changes before you save the budget record and the database is updated. Budget percentages of 100% are also equally divided across 12 or 13 periods.
- Create Divisions
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Click Create Divisions after all budget amounts are determined and GL Budget Setup records are created for this account for all divisions in your company, if you use divisionalized accounting.
- Entry Type
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Select Amount or Percentage. Your selection determines which fields you can edit in the Budget Amounts grid. If you select Amount, the Period Amount fields are available. If you select Percentage, the Budget % fields are available. The Period Amount and Budget % fields balance each other. For example, if a period amount is specified, the corresponding percentage of the budget is automatically calculated and vice versa.
- Frozen Budget
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After a budget has been set up and approved or is waiting for approval, it can be frozen so no one can change it. If a budget has been frozen in GL Administrator Freeze Budget, the display-only Frozen Budget option is selected and date it was frozen is shown.
- Percent Change
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Specify a value, either positive or negative, to change the budget amounts for the 12 or 13 periods by a specific percentage. After you click , the Period Amount, Budget %, Budget YTD, and Percent YTD values are recalculated.
Budget Amounts
The Budget Amounts grid shows the calculated budget amounts after you complete the fields in the General section and click . You can maintain each month's Budget % in the grid to fine-tune the monthly budget amounts.
- Budget %
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If the Entry Type field is Percentage and the Calculation Methods is any method other than Even Allocation, you must specify budget percentage to be allocated for each period in the grid and an Annual Budget amount. When you change the Budget % field, the Percentage YTD field is recalculated automatically. Negative budget amounts are allowed, and the percentage can be positive or negative.