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

Responsible Parties

Budget Worksheet Views

Responsible Parties

Creating a Budget Worksheet To create the budget worksheet:

 Division:  Budget Fiscal Year:  Budgeting Method:  Build budget fields through Period:  Account Controls:

 Once selections are made click NEXT  Verify the information is correct and choose FINISH

Amending Current Year Budget  Manual Transactions  Enter as Transaction Type: Budget Amendment  Debits and Credits are reversed.  Must be a balanced entry.

Maintaining & Viewing Budget Worksheet  Financial Management  Budgeting  Budget Worksheets  Budget Fiscal Year

Manually Enter Proposed Amounts  Select desired Budget Prep Field  Enter Amount Desired.  Tab or Click to next field

Budget Detail Items  Tracks Details on Budget Items  Multiple Detail Lines Allowed  Totals Detail Amount

Budget Detail Items  Grand Total Budget Detail

Budget Worksheet Options The following processes are accessed by clicking on the Options icon in the upper right corner of the ribbon bar from inside the Budget Worksheet option.

Update Budget  OPTIONS  Update Budget Fields  Save Worksheet

Update Budget  Account Controls  Fiscal Year Budget Fields  Period

Add New GL Account

Add Existing GL Accounts

Appropriation Resolution Provides you with the total Revenue and Expenditure amounts at the Function or Department level.

Appropriation Resolution  Export Options

Appropriation Resolution Example:

Budget Prep Field Projection  Budget Prep Field Projection Option  Calculates Projections  Update Budget Fields first

Budget Prep Field Projection Options: Account Types Add Account Segment Either/OR

Budget Prep Field Projection  By Account Segment

Budget Prep Field Projection Actions Tab  Action  Source Field  Condition  Condition Value  Destination Field

Actions To Choose From  Average

Actions To Choose From  Clear  Copy

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.

Export Worksheet  Export File Type:  Export File Path:  Export File Name:

Import Worksheet

 Budget Worksheet Columns Match Budget Worksheet Columns to Import Columns  Import Column

Import Worksheet  GL Accounts field  Segments GL Account Numbers

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:

Post Budget Summary

 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.