Budget Preparation System

Budget Preparation fiscal year-end processes include extracting the appropriate information from the Fund Accounting System and then completing your budget for the coming year.

Ensure that the following Budget Preparation System processes are complete:

1. Run the Budget Preparation > Entry & Processing > Budget Preparation > Budget Administrator > Extract Information option to extract data from Fund Accounting and create a work file for developing a budget for the new fiscal year.
2. Use the Budget Preparation > Reference Tables options to update the Organization Chart, Account List, and Project List as needed.
3. Verify that the budgeting process is complete.
   Note
   Posting the budget is done after Fund Accounting fiscal year-end. The budget does not have to be approved to move forward; however, data will need to be in the approved column before posting.
4. Create the new year's Organization Chart, Account List, and Project list, as well as the Expenditure, Revenue, and Project Ledgers in the Fund Accounting System. When you create the Expenditure Ledger, if your organization uses the Purchasing Distribution Templates and the Rollover During Year-End Process? checkbox in the templates is selected, the templates will be created for the new year.
   To create the ledgers, use either:
   Budget Preparation > Entry & Processing > Budget Preparation > Budget Administrator > Post Budget > Create option
   or
   Fund Accounting > Periodic Routines > Year-End > Year End > Create New Year Ledgers option
   You can run the Create options as often as needed to update data from Budget Preparation to Fund Accounting.