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Budget Headers

To Set up a Budget Header:

1. Navigate to the menu and select Budgets → Budgets.

Field	Description

Field	Description
Budget Reference	A user-defined name for the budget.
Year	Budget year.
Version	System assigned version for the budget, starting with zero. The user must enter a description for the version.
Description	Description for the budget.
Type	Operating budget type previously set up in the validation codes.
Default Hierarchy Code	Cost centre hierarchy for entering budget data previously set up in reporting hierarchies
Date Basis Code	Date basis for entering budget data. Choose from: A - Accounting V - Activity
Responsible	Name of the person responsible for maintaining the budget.
Locked On	Date on which the budget is locked and cannot be changed.
Approved By	Name of the person responsible for approving the budget. The budget cannot be approved if it is not locked on.
Approved On	Date on which the budget is approved. The budget must be locked before it can be approved

2. Save the budget header information before advancing to the next tab.

Budget Prices

It is possible to enter only one budget header for both operating and capital budgets. In this instance, the user would want to enter budget price information.
Select the Budget Prices tab to advance to the budget prices screen. This screen is used to enter operating budget data and will not be explained in detail here.

Budget Exchange Rates

Select the Exchange Rate tab to open the exchange rate screen

Field	Description

Field	Description
Budget Period	Accounting month that the exchange rate applies to. The user will have to enter a new exchange rate each month as the exchange rates fluctuate.
Organization	Organization ID for which the exchange rate is defined ie: the foreign subsidiary.
Purpose	System-defined Budget Exchange Rate Purpose Code. Choose CAP for capital budgets and REV or EXP for operating budgets.
Original Currency	Organization's Operating currency
Translated Currency	Organization's Reporting currency
Exchange Rate	Budget Exchange rates are required if your Organization's Operating Currency differs from the Budget Base Prices' Currency. Budget Exchange Rates are also retrieved based on the Account Period Date of the Budget Exchange Rate.

This screen is used to enter currency translation information for budgets used for organizations with different operating and reporting currencies. Any number of exchange rate references can be entered on this page by selecting the Next Record icon. Qbyte Financial will recognize that this is exchange information for the budget currently displayed in the Budget Reference field at the top of the screen.

The Exchange Rate tab can also be used for capital or operating budgets. To enter capital budget exchange information, select CAP as the Budget Exchange Rate Purpose Code in the Purpose field. If the budget is an operating budget, select REV or EXP as the Budget Exchange Rate Purpose Code.

Save the record by selecting the Save record icon on the toolbar.

Setting Up Budget Headers

Budget Headers

Budget Prices

Budget Exchange Rates