Summary

The Edit New Year Budgets process is used to manually edit the requested, proposed, approved and adopted budget amounts on GL accounts of the next fiscal year (for example, if you are in fiscal year 2019, this process is used to modify the budgets on GL accounts in fiscal year 2020). You cannot modify the budget of the current fiscal year using this process. If you would like to make an adjustment to the current fiscal year budget, create a budget adjustment in GL> Budget Adjustments. 

In order to use this process, the chart of accounts for the next fiscal year must already be set up using the Create New Fiscal Year tool (GL> Utilities> Create New Fiscal Year).

You can only modify the budgeted amounts on GL accounts that are set up as budgetable. GL accounts are set up as budgetable using the Chart of Accounts Maintenance window (GL> Maintenance> Chart of Accounts> General tab> Account is Budgetable toggle). 

If you would like to copy the budget amounts from one budget type to another (for example, copy the approved budget amounts to the adopted budget), use the Copy Budget Information process (GL> New Budget Information> Copy Budget Information). When you run the Fiscal Year End Reset process (GL> Utilities> Fiscal Year End Reset) and move to the new fiscal year, the budget amount in the adopted column will become the budget of the current fiscal year. This is the amount that will display in the Budget column on the Chart of Accounts Maintenance window (GL> Maintenance> Chart of Accounts> Budget tab).

Step by Step

1     View the estimated actual amounts of the next fiscal year.

• Open the Edit Estimated Actuals window (GL> New Budget Information> Edit Estimated Actual Balances).
• Only GL accounts that are set up as budgetable in the next fiscal year will display in the window. If an account is missing from the window make sure the Account is budgetable toggle is checked on the GL account in GL> Maintenance> Chart of Accounts> General tab.
• Right click on the information in the window and select Export grid contents to Excel if you would like to create a spreadsheet of the estimate actual amounts.
• The window will display the estimated actual amounts of the next current year in the Estimated Actual column. For example, if 2019 is your current fiscal year, the window will display the estimated actual amounts for the 2020 chart of accounts. If an estimated actual amount has not been calculated for the next fiscal year the Estimated Actual column will be blank.
  • The estimated actual amount will display on a GL account in GL> Maintenance> Chart of Accounts> Budget tab> Estimated Actuals field.

2     Edit the Estimated Actual amount of the GL accounts in the window.

• You can manually change the estimated actual amount by modifying the value in the Estimated Actual column or you can select some GL accounts and apply an estimated actual calculation to those accounts.
• Check the Selected toggle of the GL accounts that should be modified.
  • You can also click the Select All or Deselect All icons to select the GL accounts.
• Click the drop-down menu next to the Generate icon to select the formula you would like to use to calculate the estimated actuals amounts.
  • Select Zero if you would like to change the selected estimated actual amounts to zero.
  • Select YTD balance, activity only if you would like the estimated actual amount of the selected GL accounts to equal the current fiscal year to date balance. For example, if you are creating an estimated actual for 2020 GL accounts, the process will copy the current 2019 YTD amount into the 2020 estimated actual amount.
    • You can view the YTD amount on a GL account in GL> Maintenance> Chart of Accounts> Balance tab> YTD field.
  • Select YTD balance plus beginning balance if you would like the estimated actual amount to equal the YTD amount plus the beginning balance. For example, if you are creating an estimated actual for 2020 GL accounts, the process will copy the current 2019 YTD amount and the 2019 beginning balance into the 2020 estimated actual amount.
    • You can view the beginning balance of a GL account in GL> Maintenance> Chart of Accounts> Balance tab> Beginning Balance field.
  • The Projected End of Year selections are used in conjunction with the field next to the Generate icon  . Enter the number of periods you would like to use in the projected end of year calculation in the field next to the Generate icon.
    • For example, if you would like the estimated actual amount calculated based on the activity during the first three fiscal periods, enter 3. Uncommitted transactions during those periods will be included in the calculation.
    • Select Projected End of Year to use the following formula to calculate the estimated actual value: