What is Business Budgeting for?
This module collects department forms and consolidates master, operating, financial, and cash budgets. It locks approved versions and can hold expense or CAPEX postings for higher approval. It is distinct from the personal Budget feature.
How do I set up departments?
- Under Reports, open Business Budgeting.
- Open Departments, choose Add department, then enter each department and owner.
How do I create a new budget?
- Open Budgets, choose New budget, then enter the summary, revenue, OPEX, CAPEX and assumptions.
- Tap the budget row and complete Distribute, Submit, Consolidate, Propose and Approve in order.
How do I review an approved budget?
Open the approved budget row to review the pro-forma figures and the variances, then save, export and review the performance report.
- Open the approved budget row to review the pro-forma tie-out and variances, then save, export and review the performance report.
How do I enable posting control?
Open Control and use the switch to turn posting control on, only after checking the approval rule and confirmation. Do not turn control on until you have an approved budget version and an authority matrix in place.
- Open Control and use the switch to turn posting control on only after checking the approval rule and confirmation.
What this does to your books
Draft budgets post nothing. Posting control changes nothing until you switch it on. When budget control is on, a covered cash-out transaction within budget posts normally to its mapped expense or asset account, paid from Cash. An over-budget or unbudgeted transaction posts nothing until it is approved.