Add an accounting year budget

A budget is an overall financial plan for future activities based on activities you expect. You can create a budget for any accounting year you set up.

To set accounting years, change a budget, or remove a budget, see the **.

To add an accounting year budget

1. Open the Budgets (BUDG) page.

   a. Select Financial Management> Master Data > Budgets.

   Or

   b. Search for BUDG or Budgets in the Navigation box and then select Budgets.

   The Budgets (BUDG) page appears.

2. Select the budget year:

   a. On the Toolbar, click Browse.

   The Browse For Budgets window appears.

   b. Select the row that contains the required budget year, and click Select.

   Or, double-click the row that contains the required budget year.

   Or, click Cancel to exit from the Browse For Budgets window.

3. Prepare to set budget values:

   a. On the child toolbar, click New.

   Note: You cannot add a budget if it already exists for the year. But if a budget already exists, you can change it.

   b. On the Toolbar, click Save.

4. For each account, set budget values:

   a. Click the account in the list of accounts.

   b. In the Base Value list, select to base the account value on:

   • Last Year’s Budget: Based on last year’s budget.

   • Last Year’s Actual: Based on last year’s financial activities.

   • New Value: A value you select.

   • Last Year’s Budget +: Based on last year’s budget along with a percentage.

   • Based on Account: Based on the value of a different account.

   c. To further specify the value:

   • In the New Value field, type the value to indicate a new value.

     Or, click the calendar icon to display the calculator. Enter the required value.

   • In the Last Year’s Budget + field, type the percentage to base the value on last year’s budget plus a percentage.

     Or, click the icon at the end of the field to display the calculator. Enter the required value.

   • Click the Lookup Reference following the Based on Account field, to base the value on a different account.

     The Lookup For Base Account window appears.

   • Select the row that contains the required account, and click Select.

   Or, double-click the row that contains the required account.

   Click Cancel to exit from the Lookup For Base Account window.

   • In the Application Type list, select to apply the same value to each accounting period or to increase the value by a percentage each period.

   If you choose to increase the value by a percentage each period, enter the percentage in the Monthly Increase field.

   Or, click the icon at the end of the Monthly Increase field to display the calculator. Enter the required value.

   d. On the child toolbar, click Apply Now to apply the account’s values.

5. On the Toolbar, click Save to keep the budget.

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