Chart of Accounts Budget and Plan

Use this form to enter budget, plan, and actual amounts for each individual account for each accounting period (maximum of 13 amounts for each account) for each fiscal year.

Each time a new fiscal year is added to the accounting periods or a new Chart of Accounts is added, you must manually add corresponding budget, plan, and actual records. You can either click New to add them one at a time or use the Copy Balances to Budgets form to copy ranges of Unit Codes and account ranges to and from fiscal years. These amounts are useful for comparing actual financial activity against budgeted or planned activity.

Budget amounts and plan amounts are handled the same way. The plan amounts simply allow for a second budget or planning figure. A common practice is to use the plan amounts to maintain last year's sales figures.

These budgeted amounts are used by General Ledger reports, financial statements, and the Chart of Accounts report. Budgets also display when viewing posted General Ledger transactions to allow a comparison between a period's actual transaction amount and the budgeted amount.

You can use the Planned Change amounts in this form to contain last year's account balances.

If you are using a second Analytical Ledger in addition to the General Ledger, see About Analytical Accounting to learn how budgets and plans are affected.

Note: You can only use Statistical Accounts within Financial Statements, the Chart of Accounts form and the Chart of Accounts Budget and Plan form, where they are maintained.

The Actions menu includes these options:

Budget Growth Auto-Set: Automatically calculates budgeted amounts for all currently-defined accounting periods.
Plan Growth Auto-Set: Automatically calculates the planned amounts for all currently-defined accounting periods.

See the Chart of Accounts Budget and Plan Growth form help for more information. The form loads when you click on either of the options.