Create Budget

Menu Path: Accounting > Budget > Create Budget

• Select the Company
• Select the Financial Year → refer to financial year is exist under Add Financial Year
• Key in the Budget Code and Budget Name
• Click on the Create Budget Header Now button

• Budget can be created separately between your GL Dimension or between Branches
• Select Branch → if you want to create your budget separately in each of your branches, users need to do one by one
• Click GL Dimension → make sure the GL Dimension configuration is enabled under EMP Configuration - Trading

• Tick on the checkbox for preferred GL Dimensions and then click Get Selected

• Click Proceed to Setup GL Budget
• Tick on Add P&L GL → to show or use all the P&L GL 

• Key in GL Code and Amount 
• Choose Amount Type → “Amount/Period" or "Total Amount" (refer to Notes below)
• Click Add Item

NOTES:

• Total Amount → the amount allocated will be divided evenly to each month
• The Amount/Period → the same amount will be allocated for each month
• Sample of after Budget created;

• Users may add more Budget Item. 
• After adding all the Budget Item, click on the Save Budget button as well as click Confirm and Preview

• Click on the Proceed to setup GL Budget button
• To view the details, tick on the checkbox and click Get Budget Details

Further explanation on amount allocation: 

Example 1: Total Amount

• The above image displays the budget if Total Amount is clicked at the radio button earlier. 
• The amount RM2500 is allocated evenly to each month in the year. 
• Therefore, RM208.33 (RM2500/12) is disseminated evenly. 
• The amount can be adjusted.

Example 2: Amount/Period

• The above image displays the budget if Amount/Period is clicked at the radio button earlier. 
• The same amount RM2500 is allocated for each month. 
• Therefore, the exact amount used for this Budget for the whole year is RM30000 (RM2500*12). 
• The amount can be adjusted.

Related WIKI Pages