nextgen budgeting presented by: julie carroll local government corporation resource 2014
TRANSCRIPT
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NextGen Budgeting
Presented by: Julie CarrollLocal Government Corporation
Resource 2014
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Three Approaches
1. Manual Transactions
2. Importing Transactions
3. Budget Worksheets
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Manual Transaction Approach
Simple
Direct
Enter Debits and Credits
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Transaction Process
Some points to remember for the Transaction Process.
Transaction Type: Original Budget
Revenues: Debit
Expenditure: Credit
Budget Offset Account: Fund Balance
Post Budget: Transaction Batches.
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Budget Worksheet Approach Allows you to correct data from the prior fiscal year Predict or Enhance current year financial data Enter projections for the coming fiscal year Prepare the budget amounts to be posted to the GL New Budget Features :
User defined budget prep fields Budget projection calculations Budget detail items Excel exporting/importing.
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Before You Begin
Create the Budget Fiscal Year
Financial Management
Period End
Create Fiscal Year
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Creating Fiscal Year Division: Year to Roll: New Fiscal Year: New FY Description:. Once the selections are made, click
NEXT in the bottom right corner Verify the information is correct
and click FINISH
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Responsible Parties
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Responsible Parties
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Budget Worksheet Views
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Responsible Parties
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Creating a Budget WorksheetTo create the budget worksheet:
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Division: Budget Fiscal Year: Budgeting Method: Build budget fields through Period:Account Controls:
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Once selections are made click NEXT
Verify the information is correct and choose FINISH
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Amending Current Year Budget
Manual Transactions
Enter as Transaction Type: Budget Amendment
Debits and Credits are reversed.
Must be a balanced entry.
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Maintaining & Viewing Budget Worksheet
Financial ManagementBudgetingBudget WorksheetsBudget Fiscal Year
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Manually Enter Proposed Amounts
Select desired Budget Prep Field Enter Amount Desired. Tab or Click to next field
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Budget Detail Items Tracks Details on Budget ItemsMultiple Detail Lines AllowedTotals Detail Amount
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Budget Detail Items
Grand Total Budget Detail
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Budget Worksheet Options
The following processes are accessed by clicking on the Options icon in the upper right corner of the ribbon bar from inside the Budget Worksheet option.
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Update Budget OPTIONS Update Budget Fields Save Worksheet
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Update Budget Account Controls Fiscal Year Budget Fields Period
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Add New GL Account
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Add Existing GL Accounts
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Appropriation ResolutionProvides you with the total Revenue and Expenditure amounts at the Function or Department level.
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Appropriation Resolution
Export Options
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Appropriation Resolution
Example:
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Budget Prep Field Projection
Budget Prep Field Projection Option
Calculates Projections
Update Budget Fields first
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Budget Prep Field ProjectionOptions:
Account Types Add Account Segment
Either/OR
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Budget Prep Field ProjectionBy Account Segment
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Budget Prep Field ProjectionActions Tab Action Source Field Condition Condition Value Destination Field
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Actions To Choose From
Average
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Actions To Choose From
Clear
Copy
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Export/Import Worksheet
The most common use for the export and import options is working on your budget in Excel.
Allows you export data to a file that can be viewed and modified in a spreadsheet. Allows you to import data from a file modified or created in a spreadsheet.
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Export Worksheet
Export File Type:Export File Path: Export File Name:
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Import Worksheet
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Import Worksheet
Budget Worksheet Columns
Match Budget Worksheet Columns to Import Columns
Import Column
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Import Worksheet
GL Accounts fieldSegments
GL Account Numbers
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Import Worksheet
Amount columns to import:
You can only import amounts into the Budget Prep fields that are not calculated. Default budget prep fields are Department Request, Budget Committee and Commission
Approved You can import amounts from your spreadsheet into 1 of these fields, or into all 3 of the
fields.
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Post Budget
From the ribbon bar, click Options
Post Budget
Using the information you’ve entered, imported, or calculated into your Budget Worksheet, the Post Budget option processes that information to your General Ledger.
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Post Budget
Select Account Control or ControlsChoose the budget prep field Click NEXT
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Post Budget Date: Period: Transaction Type: Original Budget Description: Reference Internal Notes:
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Post Budget Summary
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Once you have posted the Budget you may go to the Reports Menu and print a Journal Listing of the Original Budget Transaction that you just posted.
During the Budgeting Process there are several Budget Reports that you may print from the Reports Menu. The Budget Worksheet must be created for these reports to run.
The budget worksheet may be deleted by the LG admin user if the budget has not been posted.
The option for Importing the CTAS budget file is available. Contact support for help with this.
Final Thoughts
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NextGen Budgeting
Thank You, This completes the budget presentation.