Financial Budget > Creating a Financial Budget

In the finance & administration module > general ledger > financial budget you can create budgets based on accounts and dimensions and then compare budgets to your realised revenue.

The creation of a financial budget is usually managed by finance or a system administrator.

ON THIS PAGE:

ON THIS PAGE:
1 FINANCIAL BUDGET CREATION 2 REPORTING ON FINANCIAL BUDGET 2.1 Net Revenue Forecast 2.2 Report 314 - Statement of Accounts by Dimensions

FINANCIAL BUDGET CREATION

From the general ledger menu, select financial budget

Click create new finance budget button
Select the year & title fields
Click ok

In the finance budget setup panel > click the + (plus) button to add the relevant dimension/s
Click ok

Then click the + (plus) button in the second window, to add the relevant revenue account(s)
Click ok

For a net revenue budget, you must either only use one account or budget the total income and COGS per client

Go to the dimension budget tab
Click in the relevant field/s and type in your budget per dimension (in this example, client)/account
- You can enter a total to evenly split across the year
- or enter each month individually

!!Amounts are entered/displayed in thousands!!

Once the budget is complete, click to transfer amounts to account budget. This will transfer and sum revenue against your standard account-based budget

The amount will be summarised and displayed to the relevant accounts on the account budget tab

You can now continue to enter further budget values for other accounts as required

You cannot update the values in the account budget tab, you must go back to the dimension budget tab to do this.

REPORTING ON FINANCIAL BUDGET

There are several areas in WorkBook where you can report on your financial budget. The two reports where we see this used most often are:

Net Revenue Forecast

Report 314 - Statement of Accounts by Dimensions

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