Click to view/hide picture.This screen enables you to define the budgets for each period for your general ledger accounts (typically P & L accounts). If you are using the eXcellent ™ Financial Functions, you can choose to display these defined budget figures for each GL account in your Financial Statements.
Note: Budgets will not print on the Compeat generated Financial Statements, but can be incorporated in the eXcellent Financial Statements by using the CompeatBUD () function.
You can define as many budgets as you need. Typically each budget will include a figure for each P & L account, for each of the Periods. You can create budgets directly within Compeat, or you can create the budget file in Excel and use the Import Budgets utility to import them into Compeat.
Tip: Use the Entity # field to reuse the same budget codes across multiple entities.
If each of your entities will use budgets that are almost the same, you can use the Copy button to copy a budget to a new budget code; all of the budget figures will be the same.
Budgets can be revised at any time. If you need to track the original budget figures, you will need to create a new budget code.
You can define one budget for each entity, or else multiple entities can use the same budget. When printing financial statements for multiple entities while using one budget per entity, simply include all of the budget codes for all of the entities when defining the financial statement function. On the other hand, when printing financial statements for multiple entities that use the same budget, you will need to multiply the budget figures by the number of entities.
Click to view/hide picture.
Entity The entity to which the budget is applied.
Budget Code The code for the budget; a maximum of six alphanumeric characters.
Budget Description The description of the budget. This description is for informational purposes only.
Information in the detail area can be filtered and sorted as needed.
GL Acct # The GL account number whose budget figures you are defining. Typically you will define a budget amount for each account for each period; that is, each account is repeated for each period. Typically budgets are defined for P & L accounts.
Period Ending The period ending-date to which the budget figure applies.
Amount The budgeted amount for the period. Specify the projected net change of the account for the period, not the ending balance. For example, for a sales account 4000-000, enter the amount you think will be sold during the period.
Note: an amount of zero is allowed.
