Search our Knowledge Base


Warren Hamilton
Warren Hamilton
  • Updated

Create new or adjust budget in the system for the current and future fiscal year.




1. From the homepage, go to Finance module.

2. Navigate to the Budget and select Budget.



1. A Budget is a set of planned revenues and expenditures.  It can be used to provide forecasts of future performance, to compare against actual figures as they are incurred, or used as a funds check mechanism to control spending.

2. Budget Journals are similar to Journals, except that the entries post to the Budget Balances of the affected GL Accounts rather than the Actual Balances.  Also, instead of crediting or debiting the Balance, the entries will overwrite the previous values.

3. The System shall allow Users to create and Budget Journals.  Once a Budget Journal is approved, the Budget Journal Entries will formally overwrite the existing Budget Balances of affected GL Accounts in the Budget Ledger. 

4. If Funds Check option is enabled for the GL Account, the Budget Journal cannot result in (Budget Balance - Encumbrance Balance - Actual Balance) < 0.




1. Click the Create New button.

2. Enter the Budget name, Version, Description and select the Business Entity, Fiscal Year. 

3. Click the Download Excel button to download the budget template.

4. Populate the template:

  • Account
  • Account Code
  • Department
  • Natural Code
  • Project Code
  • Budget per month

5. Once done, click the Submit for Approval.



  • Upon approval, the budget will act as the effective version. For budget revision, users can upload a new budget.
  • The grand total is updated by the system once the document is closed and saved.
  • Sub Accounts can also be added for reporting purposes (Used in Budgeted vs Actual report) by
    adding them within the GL account used for budgeting. Click on the icon of the GL account and
    add the amount.



Related Articles


Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request



Please sign in to leave a comment.