Budget Amount

You can enter a budget for each account in the system.  Budget amounts can be entered for income statements and balance sheet accounts.  Budgets can be entered for both financial and statistical accounts.  The budget amount for a fiscal period on an income statement should contain the planned period total for the account.  The quarterly budget values contain the accumulated budget amounts for all periods in the quarter.  The total year budget value is the accumulation of the individual period budget amounts for the whole year. 

The budget amount for a balance sheet account contains the planned account balance as of the end of the period.  The quarterly budget values contain the average balance for the account over the fiscal periods in the quarter.  The total year budget value represents the average account balance over the fiscal period. 

Budget amounts should be entered with an appropriate sign based on the type of account being processed.  For example, budget amounts for sales accounts (which normally have credit balances) should be entered as negative values.  Budget amounts for expense accounts (which normally have debit balances) should be entered as positive values. 

You can create multiple budgets for each location.  Each of these budgets must have a unique budget year and sequence.  The budget year and sequence are defined on Reference File category 110.  After the budget sequence record is created, you can prepare and maintain the budget amounts.  Budget amounts are entered through the Budget Master Maintenance conversation.  This conversation allows you to perform mass maintenance (usually done at the start of the budgeting process to generate preliminary, first-pass values that will be reviewed and refined) and to maintain individual account budgets.  Separate screens are provided for statistical and financial budgets.