Defining a budget journal entry

If you defined your budget as double entry, then you must use this program to adjust the amounts or units assigned to the budget by adding budget journal entries for a budget.

If you selected the double entry option on Define Budget (FB20.2), then you must use this procedure to add or change budget amounts or units.

Follow these steps to define a budget journal entry:

  1. Access Budget Journal Entry (FB40.1).
  2. Click New Journal Entry to display Define Budget Journal (FB40.2).
    Note: You must leave the Journal number field blank when adding a new journal entry.
  3. Select the company number, fiscal year, budget number, adjustment code, and journal type for the budget journal entry that you will add. Use these guidelines:
    Type

    Select the type of journal entry. Valid values are Normal, Intercompany, or Multiple Budgets.

    • Use Normal for journal entries within a single budget.

    • Use Intercompany for transferring amounts or units between companies.

    • Use Multiple Budgets for transferring amounts or units between budgets.

    Description Default

    Select whether the journal entry header or the prior transaction line is used for the description.

  4. Select the Add special action.
  5. Return to Budget Journal Entry (FB40.1) to add budget journal entry transaction lines.
    Note: To add another page of journal entries, use the Add form action. The form clears and you can continue to enter additional detail lines for the entry. If you create multiple transaction lines, then you can use (F2) to copy a field value from the previous transaction line. To copy and reverse the previous transaction amount, use Shift+ (F2) in the Amount field.

    You can add up to five transaction lines at a time for the budget journal entry. Use these guidelines to specify the field values:

    For any transaction line:

    If the Company field is blank, then the company number defined on the header is used as the default. If the number entered in the Company field does not match the company in the header, then the Journal Type must be Intercompany (I). If the Budget field is blank, then the budget number defined on the header is used as the default, If the number entered in the Budget field does not match the budget in the header, then use Intercompany (I) or Multiple Budgets (B) for the Journal Type.

    Note: Although units do not need to balance, amounts must balance before a budget journal entry can be released.
    Company Number

    The company number for which you are adding budget journal entries.

    Budget Number

    The budget to which you are adding journal entries.

    Period

    This is the period the amount will be posted to on the budget detail record. You can select a value between 0-13. A value of 0 indicates that the amount or unit value that you enter is a beginning balance.

    Note: Income statement accounts do not allow beginning balance entries.
    Account

    Select an accounting unit and account for the transaction that you will change.

    Amount/Units

    Specify the amount or units value you will post.

    Description

    Specify a description of the budget journal entry that you will change.

  6. Click Speed Entry to open Budget Speed Entry (FB40.3). On this form, you can define multiple budget journal entry transaction lines at once. You can define up to 10 detail lines.
  7. To display the totals for the budget journal entry, click Totals to open Budget Journal Entry Totals (FB40.5).
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