If you are not using iterations to prepare your expenditure budget, the actual budgeting process is simply a matter of moving ledger account figures through the three standard approval levels in the expenditure budget worksheet.
The Budget Entry center lets you view the Expenditure Ledger accounts assigned to you and update budget figures at each approval level. When the budget is satisfactory at one level, your budget administrators move ledger account data to the next level.
This pattern continues until all Expenditure Ledger accounts have reached the Approved level with the correct amounts. At this point, the expenditure budget can be posted to the Fund Accounting System.
The following steps give a basic idea of when and how you use options in the Budget Entry center. It also describes administrative steps for moving data throughout the expenditure budget worksheet. This outline assumes your site performed the preliminary data extraction and set up reference tables.
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A budget administrator moves ledger account data into the expenditure budget worksheet's Requested fields, applying budget projection percentages where applicable.
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Budget personnel use the Requested option from the Budget Entry center's Expenditure section to enter initial figures for the appropriate Expenditure Ledger accounts.
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You can review and revise multiple ledger accounts in a worksheet window, where you can access the Requested Base and Requested New fields for those records, along with current year budget data.
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You can also access and update the complete budget record for a specific ledger account in a detail page.
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The Notes item on the ribbon bar lets you add text to a ledger account's budget record or itemize the individual expenses that make up the total budget.
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A budget administrator reviews figures at the Requested level.
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If ledger accounts require further revision, repeat Step 2.
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If the Requested figures are acceptable, proceed to Step 4.
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A budget administrator moves ledger account data into the expenditure budget worksheet's Recommended fields, applying budget projection percentages where applicable. Records frozen at the Recommended level are not affected.
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Budget personnel use the Recommended option to enter figures at the second approval level for the appropriate Expenditure Ledger accounts.
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You can review and revise multiple ledger accounts in a worksheet window, where you can access the Recommended Base and Recommended New fields for those records. You can also access the Requested budget data.
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You can access and update the complete budget record for a specific ledger account in a detail page.
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A budget administrator reviews figures at the Recommended level.
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If ledger accounts require further revision, repeat Step 5.
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If the Requested figures are acceptable, proceed to Step 7.
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A budget administrator moves ledger account data into the expenditure budget worksheet's Approved fields. Records frozen at the Approved level are not affected.
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Budget personnel use the Approved option to enter figures at the last standard approval level for the appropriate Expenditure Ledger accounts.
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You can review and revise multiple ledger accounts in a worksheet window, where you can access the Approved Base and Approved New fields for those records. You can also access the Recommended budget data.
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You can access and update the complete budget record for a specific ledger account in a detail page.
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A budget administrator reviews figures at the Approved level.
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If ledger accounts require further revision, repeat Step 8.
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If the Approved figures are acceptable, the expenditure budget is ready to be posted to Fund Accounting as described in Steps 11 and 12.
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You can update ledger account figures for up to four years in the future using the Future Years option.
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When the budget is complete at the Approved level and New Year procedures have been performed in Fund Accounting, a budget administrator can post your budget.
As the first step in this procedure, the administrator prompts the system to update the Organization Chart and Account List for the new year and create the Expenditure Ledger based on the records in Budget Preparation. -
Once tables and ledger accounts are established in Fund Accounting for the new year, your administrator posts the expenditure budget.
Posting an expenditure budget updates Fund Accounting as follows:
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Expenditure Ledger period allocations are calculated based on entries in Budget Preparation's Account List.
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On the General Ledger, the appropriate Budget Fund Balance accounts are debited.
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Also on the General Ledger, the appropriate Expenditure Budget Control accounts are credited.
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Important
The system only allows posting a budget once. For information on posting a budget, refer to Post Budget.