PowerSchool ERP Budget Preparation
PowerSchool ERP Budget Preparation
Breadcrumbs

Add Revenue Ledger Entry Page for Employees

Use this page to add a new budget account to the Revenue Ledger in Budget Preparation.

  • While you are adding a ledger account, you can use the Notes item to itemize the account's individual components or to enter notes.

  • Once added, a ledger account can be accessed and updated in the Revenue Budget Process - Requested page's worksheet.

Ledger accounts created in Budget Preparation are posted to the Fund Accounting System when you complete the budget process.

From the Budget Preparation menu, select Entry & Processing. From the Budget Preparation menu, select Budget Entry. In the Revenue section, select Requested, then Add New.

Adding Revenue Budget Ledger Records

  1. From the Budget Preparation menu, select Entry & Processing.

  2. From the Budget Preparation menu, select Budget Entry.

  3. Click Requested in the Revenue section to display the Revenue Budget Process - Requested page.

  4. Click Add New.

  5. Complete the page's fields.

    • Click Notes on the toolbar to itemize the account's expenses or to enter notes. For information, refer to Notes Page.

  6. Leave the Continuous checkbox selected if you are adding two or more accounts. Clear the field if you only want to add one account.

  7. Click OK to save the record.

    1. If the Continuous checkbox is selected, the Add Ledger Entry page refreshes so you can add the next record. Otherwise, you return to the Revenue Budget Process page.

Fields

Fields

Description

*Budget Unit*

Code for the low-level Organization Chart record to use for this Revenue Ledger account.

This field is verified against Budget Preparation Organization Chart at the lowest level in your reporting structure. The field name is defined in your Budget Preparation Profile.

This field is not displayed if the Full Account Format option is enabled in the Budget profile. The Full Account Format option is available in versions 22.4 and later.

Account

Code for the revenue account to use for this Revenue Ledger record.

Enter an account from the Revenue range defined in your Budget Preparation Profile. This field is verified against Budget Preparation Account List.

This field is not displayed if the Full Account Format option is enabled in the Budget profile.

Account Number

22.4 and later.

If the Full Account Format option is enabled in the Budget Preparation profile, enter the full account number based on the format defined in the Budget Preparation Profile Translation page.

(Ledger) Title

22.4 and later.

The Ledger Title may be comprised of the Budget Unit and Account titles but can be edited by a user.

Freeze

Selection determining the approval level where the ledger account's budget figures are frozen.

Select:

  • N - Not Frozen

  • D - Requested Level

  • R - Recommended Level

  • A - Approved Level

  • F - Future Level

When data is frozen, it cannot be overwritten with the Apply/Move Budget option. However, you can still update frozen ledger accounts in the Revenue Budget Process - Requested window.

Prior Year Budget (3rd, 2nd, and Prior Year)

Budget amounts for this ledger account in each of the past three fiscal years. Decimal/12,2

The following updates occur when you run the New Budget Year extraction, based on history records in Fund Accounting and Budget Preparation:

  • Prior Year Budget equals the budget in Fund Accounting for this ledger account in the previous fiscal year.

  • 2nd Prior Year Budget and 3rd Prior Year Budget are updated based on the ledger account's Budget Preparation record for the current fiscal year. The Prior Year and 2nd Prior Year Budget in the current year Budget Preparation record become the 2nd and 3rd Prior Year Budget for the record generated from the extraction.

Prior Year Actual (3rd, 2nd, and Prior Year)

Actual revenue amounts for this ledger account in each of the past three fiscal years. Decimal/12,2

The following updates occur when you run the New Budget Year extraction, based on history records in Fund Accounting and Budget Preparation:

  • Prior Year Actual equals the total revenues in Fund Accounting for this ledger account in the previous fiscal year.

  • 2nd Prior Year Actual and 3rd Prior Year Actual are updated based on the ledger account's Budget Preparation record for the current fiscal year. The Prior Year and 2nd Prior Year Budget in the current year Budget Preparation record become the 2nd and 3rd Prior Year Budget for the record generated from the extraction.

Current Year Budget

Budget amount for this Revenue Ledger account in the current fiscal year. Decimal/12,2

Current Year YTD

Actual year-to-date revenue amount for this Revenue Ledger account. Decimal/12,2

Current Year Estimate

Projected revenues for the current fiscal year based on the Current Year YTD value and percentage of the year completed. Decimal/12,2

The system calculates the estimate when the Apply Budget option is run the Requested level. For information, refer to Apply Budget Option.

Requested Base

Core revenues budgeted for this ledger account in the upcoming year at the first standard approval level. Decimal/12,2

A base revenue is any amount that was also included in last year's budget. The requested level signifies the revenues requested for the new year.

You can enter the amount, or it can be system-calculated with the Apply Budget option. For information, refer to Apply Budget Option.

Tip

You also can use Notes on the toolbar to update this field. For information on this option, refer to Revenue Notes Page for Administrators.

Requested New Program

Revenues your department is requesting for next year that were not included in last year's budget. Decimal/12,2

Recommended Base

Core revenues budgeted for this ledger account in the upcoming year at the second standard approval level. Decimal/12,2

A base revenue is any amount that was also included in last year's budget. The recommended level signifies the revenues that have gone through the first standard level of approval.

You can enter the amount or use the Apply Budget option to calculate it. For information, refer to Apply Budget Option.

Tip

You also can use Notes on the toolbar to update this field. For information on this option, refer to Notes Page.

Recommended New Programs

Revenues for this ledger account that were not included in last year's budget and have gone through the first standard level of approval. Decimal/12,2

Approved Base

Core revenues budgeted for this ledger account in the upcoming year at the final standard approval level. Decimal/12,2

A base revenue is any amount that was also included in last year's budget. The approved level signifies the revenues that have gone through final approval and are ready for posting to Fund Accounting.

Approved New Programs

Revenues for this ledger account that were not included in last year's budget and have gone through the final level of approval. Decimal/12,2

Important

The system combines the Approved Base and Approved New Programs values when the budget is posted to Fund Accounting.

2nd Year - 5th Year Estimate

Projected budget amounts for each of the four years following the budget year. Decimal/12,2

You can enter the amounts, or they can be system-generated using the Budget Administrator Apply/Move Budget option. For information, refer to Apply Budget Option.