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.

FINANCIAL BUDGET CREATION

• From the general ledger menu, select financial budget

Open

• Click create new finance budget button

• Select the year & title fields

• Click ok

Open

• 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

• 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

• 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

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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