Budget Headers

This page may contain multiple incoming links - Please use your browser back button to return to the previous page.

1 Introduction
2 Account Group Requirements
3 Setting Account Group System Defaults
4 Defining Validation Codes for Budgeting
5 Building Reporting Hierarchies
6 Creating Budget Headers
7 Setting up Budget Activities
8 Entering Budget Data Manually

Introduction

A budget is an estimate of how much money will be made or spent over a period of time. A budget header must be set up for all capital and operating budgets and the same header can be used for both.

Security Role 12 Budget and Forecast Maintenance and Processes will give the user access to edit budget information and Security Role 14 External Interface Master Maintenance is needed to Edit interfaced Budgets.

Account Group Requirements

Qbyte Financial only looks at one account group for each budget, therefore, it is beneficial to set up one account group that incorporates all capital and income statement accounts. An account group is required in order to input budget amounts in the budget volumes and amounts screen and when setting a budget account group in system defaults.

Navigate to the menu and select Master Data → Reporting Account Groups.
Sample reporting group account set up for budgets:

Setting Account Group System Defaults

There are several system defaults that must be set before an organization begins the budgeting process. A user with Security Role 84 Application Utilities can modify these defaults.

Navigate to the menu and select Administration → System Defaults and Controls.
In the Sub-Systems tab, select 24 - BUDGETING.
In the Sub-Sys Comp tab, select 6 - CORE.
Select the Default Values tab.

System Default	Description

System Default	Description
BATCH_BUDGET_DATA_PATH	The location where the budget detail is stored
BUDGET_ACCT_GROUP_TYPE_CODE	The default account group type code for all budgets. There can only be one account group type code for all budgets.
BUDGET_AT_CONT_LEVEL	Enter Y to set up the budget at the continuity code level. Enter N to set up the budget at the major/minor account level.
BUDGET_AUTO_CO_ACTIVITY	Enter Y to carry over the budget activity into the subsequent year. Enter N to manually enter budget activity carryovers.

Defining Validation Codes for Budgeting

Qbyte Financial requires several validation codes to be defined for the budgeting process.

The budget User Defined Codes are as follows:

Validation Code	Definition

Validation Code	Definition
Capital Budget Codes	User-defined codes for grouping activities within a capital budget.
Budget Program Codes	User-defined codes used to group budget activities as operating or capital.
Operating Budget Types	User-defined codes to define the budget type. The codes include capital budgets as well as operating budgets.
Budget Activity Types	User-defined codes used to categorize budget activities into further detail such as exploration and development activity types within a capital budget.
Budget Activity Purpose Codes	User-defined codes used to define the purpose of budget activities.

Navigate to the menu and select Administration → Codes.
Sample budget program codes set up:

Building Reporting Hierarchies

To enter budget amounts into the Budget Volumes and Amounts screen a reporting hierarchy must be set up by a user with Security Role 11 Hierarchy Maintenance.

A user must first define the reporting hierarchy levels and flag the budget level column.

Once the reporting hierarchy levels are defined, a user can then create the reporting hierarchy entity.

Creating Budget Headers

Create a budget for all capital and operating budgets. The same header can be used for both a capital and an operating budget

Setting up Budget Activities

Budget activities are used to break capital projects down into a further level of detail.

Entering Budget Data Manually

After the budget is set up, a user can either record budget amounts manually using the Budget Volumes and Amounts screen or add the information by using the batch upload feature.