gl budgeting student guide
TRANSCRIPT
-
7/31/2019 GL Budgeting Student Guide
1/26
GL Budgeting
Student Guide
-
7/31/2019 GL Budgeting Student Guide
2/26
-
7/31/2019 GL Budgeting Student Guide
3/26
Revised: 7/13/05 Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved. Effective: 5/3/04
GL Budgeting Table of Contentsi
Table of Contents
GL Budgeting - Introduction..........................................................................................................................1-1GL Budgeting - Introduction .........................................................................................................................1-2Overview .......................................................................................................................................................1-3
Overview .......................................................................................................................................................1-3Completing the Budget Accounting Cycle .......... ........... ........... .......... ........... ........... ........... ........... ........... ...1-4Completing the Budget Accounting Cycle .......... ........... ........... .......... ........... ........... ........... ........... ........... ...1-4Completing the Budget Accounting Cycle .......... ........... ........... .......... ........... ........... ........... ........... ........... ...1-5GL Budgeting - Planning Considerations......................................................................................................0-2Budgeting Tips and Techniques ....................................................................................................................0-4Budgeting Tips and Techniques ....................................................................................................................0-4
GL Budgeting - Planning Considerations......................................................................................................2-4
Reviewing and Updating Budgets ..................................................................................................................3-1Reviewing and Updating Budgets .................................................................................................................3-2Overview .......................................................................................................................................................3-3
Inquiry - Using Account Inquiry ...............................................................................................................3-4GL Budget - Reviewing Budget Inquiry....................................................................................................3-6GL Budget - Using Budget Inquiry ...........................................................................................................3-8
Budget Reports ..............................................................................................................................................3-9GL Budget - Budgets: Freezing.................................................................................................................3-10
Summary........................................................................................................................................................3-12
-
7/31/2019 GL Budgeting Student Guide
4/26
Revised: 7/13/05 Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved. Effective: 5/3/04
GL Budgeting Table of Contentsii
-
7/31/2019 GL Budgeting Student Guide
5/26
Revised: 7/13/05 Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved. Effective: 5/3/04
GL Budgeting - IntroductionChapter 1 - Page 1
GL Budgeting - Introduction
Chapter 1
-
7/31/2019 GL Budgeting Student Guide
6/26
Revised: 7/13/05 Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved. Effective: 5/3/04
GL Budgeting - IntroductionChapter 1 - Page 2
GL Budgeting - Introduction
Section Objectives
At the end of this section, you should be able to:
Create a budget
Define a budget organization
Enter budget amounts using different rules and methods
Use Budget Wizard to enter budget amounts in a spreadsheet
Upload budgets to General Ledger
Perform budget inquiry
Freeze budgets to prevent further modifications
-
7/31/2019 GL Budgeting Student Guide
7/26
Revised: 7/13/05 Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved. Effective: 5/3/04
GL Budgeting - IntroductionChapter 1 - Page 3
Overview
Budget estimated account balances for a specified range of periods. Then compare estimated
amounts with actual balances to determine variances.
Fiscal Year 2001Organization 20020
Actuals Budget Variance
Salaries 14,000 15,000 1,000
Supplies 4,000 3,500 (500)
Travel 1,500 1,700 200
TOTAL 19,500 20,200 700
Budgeting
General Ledger gives you a variety of tools to create, maintain, and track your budgets, including the
ability to upload budget amounts from an Excel spreadsheet.
Create an unlimited number of budgets or forecasts.
Control user access to budgets.
Create budget organizations to mirror the various levels of your companys organizationand to control user access to the budget information.
Structure your budget into an unlimited number of levels.
Create master-detail budgets.
-
7/31/2019 GL Budgeting Student Guide
8/26
Revised: 7/13/05 Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved. Effective: 5/3/04
GL Budgeting - IntroductionChapter 1 - Page 4
Completing the Budget Accounting Cycle
Step 1: Define budgets and budget organizations.
Step 2: Enter budget amounts.
Step 3: Review and correct budgets.
Step 4: Freeze budgets.
Step 5: Reports on budgets.
Defining Budgets and Budget Organizations
Define up to 60 budget periods in your budget.
Define budget organizations at any level: cost center, division, and so on. Assign passwordsto budgets and create new organizations by copying existing budget organizations.
Entering Budgets
Enter budget data using standard, formula-based, and automatic allocations.
Enter amounts using annual spread, fixed amounts, and calculated methods using anindividual account layout or a worksheet-type screen layout.
Transfer budget amounts from one account to another.
-
7/31/2019 GL Budgeting Student Guide
9/26
Revised: 7/13/05 Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved. Effective: 5/3/04
GL Budgeting - IntroductionChapter 1 - Page 5
Completing the Budget Accounting Cycle
Reviewing, Correcting, and Freezing Budgets
Review budget amounts and variances by period and account combination. Perform online
review and compare summary balances of master-detail budgets.
Freeze budgets to prevent further update to completed budgets.
Reporting on Budgets
Run standard or customized budget reports.
-
7/31/2019 GL Budgeting Student Guide
10/26
Revised: 7/13/05 Copyright 2004 University of Virginia and Oracle Corporation. All rights reserved. Effective: 5/3/04
GL Budgeting - IntroductionChapter 1 - Page 6
-
7/31/2019 GL Budgeting Student Guide
11/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved.
GL Budgeting - Planning ConsiderationsChapter 0 - Page 1
GL Budgeting - PlanningConsiderations
-
7/31/2019 GL Budgeting Student Guide
12/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved.
GL Budgeting - Planning ConsiderationsChapter 0 - Page 2
GL Budgeting - Planning Considerations
Section Objectives
At the end of this section, you should be able to discuss setup considerations for General Ledger
budgeting.
-
7/31/2019 GL Budgeting Student Guide
13/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved.
GL Budgeting - Planning ConsiderationsChapter 0 - Page 3
GL Budgeting - Planning Considerations
Planning Your Budget Requirements
In order to successfully implement General Ledger Budgeting, you should analyze your
organization's definition and use of budgets, budget organizations, and budgeting methods.Required decisions include:
Whether or not you need the audit trail that budget journals provide.
Note: UVA has decided that an audit trail is necessary; therefore, budget journals are
required.
Whether you require a balance sheet budget
Whether you will budget in a centralized or a distributed mode
Note: UVA budget will be developed in the field but loaded into the application by the
central office.
Whether you will need additional budgets for re-forecasting or what-if scenarios
Whether you will budget directly into General Ledger or use spreadsheets withApplications Desktop Integrator (ADI)
Note: Because UVA required budget journals, the Budget Wizard cannot be used.
Journals can be entered directly in the application or uploaded through ADI, by
selecting a balance type of Budget.
-
7/31/2019 GL Budgeting Student Guide
14/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved.
GL Budgeting - Planning ConsiderationsChapter 2 - Page 4
Budgeting Tips and Techniques
When planning your budgeting process, consider the following:
To allow more flexibility when defining budgets, do not select 'Require Budget
Journals' in the Define Budget window. This will allow you to make that decision on acase-by-case basis.
You may assign passwords to each budget organization in order to control the enteringof data.
You can automatically run the Maintain Budget Organization program so that disabledcode combinations are deleted and new code combinations are added periodically.
Chapter 2
-
7/31/2019 GL Budgeting Student Guide
15/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 1
Reviewing and UpdatingBudgets
Chapter 3
-
7/31/2019 GL Budgeting Student Guide
16/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 2
Reviewing and Updating Budgets
Section Objectives
At the end of this section, you should be able to:
Perform online inquiries on budgets
Drill down to the detail balances from summary balances
Use standard reports to review budgets.
Update budgets
Freeze and unfreeze budgets
-
7/31/2019 GL Budgeting Student Guide
17/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 3
Overview
Use a three-step process to ensure the accuracy ofyour budgets.
Step 1:Review budget
information.
Step 1:Review budget
information.
Step 3:
Freeze budgets.
Step 3:
Freeze budgets.
Step 2:
Correct budgetinformation.
Step 2:
Correct budgetinformation.
Reviewing Budgets
After entering or importing budget information, run reports or perform online inquiries to ensure theaccuracy of your budgets. General Ledger provides a variety of methods for this analysis.
Updating Budgets
Prior to finalizing your budget, review your budget data and make revisions, if necessary.
Freezing Budgets
You can freeze a budget, budget organization, budget formula batch, or range of budgetaccount combinations to prevent accidental or unauthorized changes.
You can also unfreeze any budget or budget element that is currently frozen.
-
7/31/2019 GL Budgeting Student Guide
18/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 4
Inquiry - Using Account Inquiry
General Ledger
N Inquiry Account
Account Inquiry
Account Inquiry
1. Open the Account Inquiry window and enter the range of Accounting Periods to include in your
inquiry.
2. Specify the currency.
3. Select Budget for your Primary Balance Type; if desired, select Actual for your SecondaryBalance Type. By selecting a secondary balance type, you will be able to compare budgets to
actuals.
4. Select a precision factor.
5. Select a display method for your inquiry.
-
7/31/2019 GL Budgeting Student Guide
19/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 5
Select Show Balances to review balances for the current account.
Select Show Journal Details to see the journal entry activity for the current account.
Click 'Show Variance' to see a variance calculation between your primary balance andsecondary balance types.
Caution: You cannot include variances in your Account Inquiry if you choose to inquire on allcurrencies.
-
7/31/2019 GL Budgeting Student Guide
20/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 6
GL Budget - Reviewing Budget Inquiry
General Ledger
N Inquiry Budget
Budget Inquiry
Budget Inquiry
NOTE: This inquiry screen can only be used when a master budget and summary accounts have
been setup.
1. Enter your budget inquiry criteria, specifying a master budget.
2. Select an Inquiry Type.
To review Master Budgets, select Drilldown this Budget for the Inquiry Type. To review Detail Budgets, select Query Detail Budgets and query a Summary
Account.
To limit your inquiry and review only balances where the detail budgets exceed themaster budget, select Query Budget Violations Only.
3. Query a Summary Account.
-
7/31/2019 GL Budgeting Student Guide
21/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 7
4. Select Show Balances from the Budget Inquiry window to open the Budget Balances window.
-
7/31/2019 GL Budgeting Student Guide
22/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 8
GL Budget - Using Budget Inquiry
General Ledger
N Inquiry Budget
B Show Balances
B Detail Accounts
Budget Balances
Budget Balances
How to Review Master and Detail Budget Balances
1. If you chose Drilldown this Budget, select Detail Accounts to review the balances for the detail
account combinations that roll up into the summary account. Then select Budget Journals to seethe journal entries for the selected detail account.
2. If you chose to Query Detail Budgets, select Show Budgets to review the detail budgets that rollup into the master budget for the summary account for a selected period.
-
7/31/2019 GL Budgeting Student Guide
23/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 9
Budget Reports
Review your budgets by using standard reports and listings.
Report Description
Budget Trial
Balance
Displays account budget balances and activity for a
specific currency
Master-Detail
Budget
Compares budget amounts between master and detail
budgets and highlights violations (when detail budgets
exceed their master budget or master budgets exceed their
detail budgets)
Summary-DetailBudget
Lists the detail accounts that roll up into a summaryaccount for a particular budget and currency
Unbudgeted
Master- Detail
Accounts
Lists transactions in the detail budget for which there are
no cor- esponding budgeted amounts in the master budget
Budget Hierarchy
Listing
Lists master-detail budget relationships
Budget
Organization Range
Listing
Lists details (including budgetary control options) of
budget organizations by account range
Budget Journal Entries
MassBudget Journals
Transfer Budget Amounts
Budget Balance Consolidation
If posted, use the Enter Budget Journals window.
If unposted, use the Enter Journals window. Open the budget journal and make appropriate changes.
-
7/31/2019 GL Budgeting Student Guide
24/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 10
GL Budget - Budgets: Freezing
General Ledger
N Budgets Freeze
Freeze Budget
How to Freeze or Unfreeze a Budget
1. Open the Freeze Budgets window and query the desired budget, budget organization, accountrange, or budget formula batch.
-
7/31/2019 GL Budgeting Student Guide
25/26
Copyright 2000 University of Virginia and Oracle Corporation. All rights reserved
Reviewing and Updating BudgetsChapter 3 - Page 11
2. Select either Organizations or Batches from the list of values.
3. Select Frozen for the item you want to freeze or clear frozen items you want to unfreeze.
4. Save your work.
Hint: To freeze or unfreeze an entire budget, change the budget status in the Define Budget window.
Note: When you freeze budget organizations, you cannot budget to the account combinations
belonging to that budget organization. When you freeze formulas or ranges of account combinations,you cannot use those formulas or budget to those account combinations for the budget specified.
-
7/31/2019 GL Budgeting Student Guide
26/26
C i ht 2000 U i it f Vi i i d O l C ti All i ht d
Summary
This lesson covered the following topics:
Performing online inquiries about your budgets by using the Budget Inquiry window
Drilling down to the detail balances from summary balances
Using standard reports to review budgets
Updating budgets by using the original creation method or the Enter Budget Journals, EnterJournals, or Enter Budget Amounts window
Freezing and unfreezing budgets by using the Freeze Budget window