General Ledger - Budget Entry
Menu Selection: Document - General Ledger - Budget Entry
Purpose
This document allows the user to establish a budget for accounts and sub accounts.
Prerequisites
The Chart of Accounts must have already been created via the General Ledger - Chart of Accounts document, and the Chart of Sub Accounts must have already been created via the General Ledger - Chart of Sub Accounts document.
Context
This document provides the facility for the user to enter in monthly, and yearly budgets for main accounts and sub accounts that have been created via the General Ledger - Chart of Accounts and the General Ledger - Chart of Sub Accounts documents. The accounts are presented in this document in a similar order to the presentation on the Profit and Loss - By Month report. However, because LILAC has a very dynamic approach to "General Ledger Accounts", not all accounts shown on that report will be visible on this document.
About This Screen
| Head of the Document | ||
| Field | Enterable? | Instructions |
| From Ledger | Yes | When entering a budget you should select the TRADING ledger. |
Lines of the Document |
||
| Main | No | Displays the main account. |
| Sub | No | Displays the sub account. |
| Total | Yes | Type in the budget for 12 months. This field will automatically be calculated upon clicking the Calculate button, and will be equal to the sum of each month. |
| Jul, Aug, Sep, Oct, Nov, Dec, Jan, Feb, Mar, Apr, May, Jun | Yes | Type in the budget for each month. This will automatically be calculated from the formula Total / 12. Be aware that it is possible for the sum of each month to be not equal to the Total column. This is caused by rounding. To correct this problem, you can enter the remainder into the month of Jun. If 10,000 is entered into the Total field, each month will be set to 833. If the Calculate is clicked, the Total field would then be set to 9996. Set the Jun field to 837 to correct this. |
| Percent | No | Displays the percentage the total of this item makes up of the section total. |
| Running Total | No | Displays the running total for the section. |
Transaction Processing
| Button | Description |
| Populate | Clicking the Populate button will create the budget document from the Chart of Accounts and Chart of Sub Accounts. It is safe to click this button after a budget has been entered. |
| Calculate | Clicking the Calculate button will recalculate the Total, Percent and Running Total fields. |
| Clear! | Clicking the Clear! button will clear all budget records. |
| Delete! | Clicking the Delete! button will erase all budget records. |
From Here
Once a budget has been established, it can be updated, and compared against actual figures by running the General Ledger - Profit or Loss - Budget Compare report.