Presentation on theme: "NextGen Budgeting Presented by: Julie Carroll Local Government Corporation Resource 2014."— Presentation transcript:
NextGen Budgeting Presented by: Julie Carroll Local Government Corporation Resource 2014
Three Approaches 1.Manual Transactions 2.Importing Transactions 3.Budget Worksheets
Manual Transaction Approach Simple Direct Enter Debits and Credits
Transaction Process Some points to remember for the Transaction Process. Transaction Type: Original Budget Revenues: Debit Expenditure: Credit Budget Offset Account: Fund Balance Post Budget: Transaction Batches.
Budget Worksheet Approach Allows you to correct data from the prior fiscal year Predict or Enhance current year financial data Enter projections for the coming fiscal year Prepare the budget amounts to be posted to the GL New Budget Features : User defined budget prep fields Budget projection calculations Budget detail items Excel exporting/importing.
Before You Begin Create the Budget Fiscal Year Financial Management Period End Create Fiscal Year
Creating Fiscal Year Division: Year to Roll: New Fiscal Year: New FY Description:. Once the selections are made, click NEXT in the bottom right corner Verify the information is correct and click FINISH
Export/Import Worksheet The most common use for the export and import options is working on your budget in Excel. Allows you export data to a file that can be viewed and modified in a spreadsheet. Allows you to import data from a file modified or created in a spreadsheet.
Import Worksheet Amount columns to import: You can only import amounts into the Budget Prep fields that are not calculated. Default budget prep fields are Department Request, Budget Committee and Commission Approved You can import amounts from your spreadsheet into 1 of these fields, or into all 3 of the fields.
Post Budget From the ribbon bar, click Options Post Budget Using the information you’ve entered, imported, or calculated into your Budget Worksheet, the Post Budget option processes that information to your General Ledger.
Post Budget Select Account Control or Controls Choose the budget prep field Click NEXT
Post Budget Date: Period: Transaction Type: Original Budget Description: Reference Internal Notes:
Once you have posted the Budget you may go to the Reports Menu and print a Journal Listing of the Original Budget Transaction that you just posted. During the Budgeting Process there are several Budget Reports that you may print from the Reports Menu. The Budget Worksheet must be created for these reports to run. The budget worksheet may be deleted by the LG admin user if the budget has not been posted. The option for Importing the CTAS budget file is available. Contact support for help with this. Final Thoughts
NextGen Budgeting Thank You, This completes the budget presentation.