DEFINING BUDGETS

Use budgeting to enter estimated account balances for a specified range of periods. You can use these estimated amounts to compare actual balances with projected results, or to control actual and anticipated expenditures. General Ledger gives you a variety of tools to create, maintain, and track your budgets, including the ability to upload budget amounts from your spreadsheet software. Budgets can be used with or without budgetary controls. Define a budget to represent specific estimated cost and revenue amounts for a range of accounting periods. You can create as many budget versions as you need for a Ledger.

1. First enter the following Value for Reserve for Encumbrance

2. Before we define Budgets, we have to make sure that the Accounting Options related to Budgets i.e. Budgetary Options are enabled. So follow these steps:

3. Update the ledger options for your Ledger

Click Finish Follow the same steps for your Secondary Ledger.

4. Now Create a Budget Navigate to the Define Budgets window. (N) Budgets > Define > Budget

 Name = ABBUDGET Ledger = ABLedger Status = Open - Status: Enter the Status of your budget or choose a status from the List of Values

Open: The budget is available for update and budget entry. Current: The budget is open, and it is the default budget when you use most budgeting and inquiry forms. You can have only one Current budget at a time for each set of books. Frozen: The budget is unavailable for update or budget entry. General Ledger displays the Created Date and Frozen Date, if applicable, for the budget.

First = JanXX Last = DecXX (B) Open Next Year (B) Yes in the Decision window (B) OK in the Note window Use (M) View > Requests to ensure the concurrent process completes successfully

Click Open Next Year.

Click Yes.

5. Create a Budget Organization Navigate to the Define Budget Organizations window (N) Budgets > Define > Organization Name = ABSALES DEPARTMENTS Ledger = ABLedger Define budget organizations to represent the departments, cost centers, divisions, or other groups for which you enter and maintain budget data.

Save and close. Check the Concurrent Request.

6. Enter Budget Amounts Navigate to the Enter Budget Amounts window. (N) Budgets > Enter > Amounts Select your Organization, Budget and Accounting Periods using the LOV Enter amounts against the account combinations as detailed in the table below, using the Budget Rules where appropriate. Click on the line Populate ranges (B) Rules Use the Options button to put any rounding differences into the last month of the year. Post your Budget amounts (B) Post (B) Yes (B) Ok

Click on the 1st row and select Ctrl+F11. All the code combinations will default.

Now you can enter the amounts. Click Budget Rules to enter the amounts one after another using a particular Rule.

Click Apply after each entry to see the change in the Worksheet. Click Down arrow to move to the next code combination. In case you click OK this box will close and you have to click Budget Rules again. You may choose a different Rule for each code combination from the drop down box.

Once you come to the last record, click OK and then click Save.

Check the Concurrent Request

It will Save and also Post.

So it has completed .