General Ledger > Budgets

Budgets are necessary tools in planning and evaluating the company’s operations. These will aid management in making important decisions. In AccountMate, the following are some of the key budget features:

•Set up budgets with the following detailed features:

oYou can create annual financial budgets for the whole company, a department or some other segment thereof. AccountMate will base the budget on your chosen GL Account IDs and Account Segments set up in the system.

oYou can create a new budget by setting it up as a percentage of your actual GL Account balances.

oYou can set up standard budgets for all your accounts, or only for specific accounts.

oYou can set up budgets for all or any period of any year.

oYou can also indicate an annual budget for a specific GL Account ID to be distributed, equally or otherwise, to each period.

•Import or export budgets into/from AccountMate.

•Update your budget data based on the current budget, other existing budgets or actual GL Account balances.

•You can generate a Budget Statement that shows a comparison of the actual versus the budgeted amounts and the corresponding variances of a budget ID for a particular period.

Budgets created in AccountMate are not affected by fiscal year-end closing or period-end closing. The budget data is permanent unless it is updated or purged from AccountMate. Calculation of budget values is based on the GL Account IDs and the Segment Values that are set up in AccountMate.

Budgets

Budgets

See Also