PowerSchool ERP Fund Accounting
PowerSchool ERP Fund Accounting
Breadcrumbs

Post Original Project Budgets Page

Use this page to set up budget records in your Project Ledger. Following are a few things to consider before entering your records:

  • A project budget record is a combination of its budget unit from the Project List and account from the Account List.

  • The account you assign determines whether the budget record is for expenditures or revenues. The Fund Accounting Profile defines the ranges of numbers that can be used for expenditure accounts and revenue accounts.

  • Projects can only be budgeted annually, as opposed to per period. However, the system records their expenditures and revenues on a per period basis for reporting purposes.

If you use the Budget Preparation System, do not use the Post Original Budgets page, until after you have posted your budget for the current fiscal year in either Budget Preparation's Post Budget option or Fund Accounting's Year End option.

From the Fund Accounting menu, select Entry & Processing. From the Budget Ledgers menu, select Project Ledger, then select Add new.

Adding a Project Budget Record

  1. On the Project Budgets page, select Add new to display the Post Original Budgets page.

  2. In the Project and Account fields, identify the record by entering a project from the Project List and an account from the Account List.

  3. In the Control Number field, assign a number for tracking this transaction in the Fund Accounting > Entry & Processing > Detailed Displays > Transactions option.

  4. In the Transaction Description field, enter a title for the project budget record.

  5. In the Project Budget Amount field, enter the total expenditures or revenues to budget in the fiscal year.

  6. Select OK to save the record.

Fields

Field

Description

*Budget Unit*

Low organization to record transactions in your Revenue Ledger. The ledger's units are defined in the Organization Chart.

If your Fund Accounting Profile is set up for full expensing, the Full Account Window page will display to enter the budget unit. For the procedure, refer to Full Account Window Page.

Account

Account from the range stored in your Fund Accounting profile Revenue fields. The system only accepts accounts within this range. Also, the budget unit-account combination entered must exist in the General Ledger.

Transaction Description

Brief description of the revenue line item. Character/25

Control Number

Optional number for grouping this record with other records. Character/8

You can use this number when searching for records on the Transactions page. From the Fund Accounting menu, select Entry & Processing. From the Detailed Displays menu, select Transactions.

Revenue Budget Amount

Revenue amount budgeted in the fiscal year for this budget unit-account.