You can load Budgets and Forecasts into IFS IDEAS to streamline review of Budgets and Actuals. IFS IDEAS offers flexibility in how you want to review budgets. You can create monthly, quarterly, yearly or other types of budgets. You can create multiple revisions for budgets and forecasts.

Details

Understand Ways to Load the Budget (and the Recommendation)

Budgets are loaded to the General Ledger in two primary ways:

1. Load budgets using journals (recommended)

2. Load budgets using segments

It is recommended to load budgets using journals.

Watch this video for a full explanation and recommendation.

Prepare Your System for Budget Upload Using Journals

You will have to define:

1. List of Segments

2. List of Transaction Types

3. List of Journals

Questions to answer that help determine your setup (e.g. which segments are needed):

1. What is my budget design?

2. What do I want to accomplish?

3. How many revisions do I want?

4. How many forecasts do I want?

5. Do I want Prior Year segments

6. Do you want budgets for multiple future years?

Watch this video to learn how.

Enter or Upload Your Budget into Journals

The easiest way to upload journals for your budget is to use Spreadsheet Link.

You can download a simple Example Budget Upload Template.xlsx that is used in the video.

Watch this video to learn how.

Create a Budget vs. Actual Report

Now that you have budgets and actuals in the system, you can create a variety for reports against the data.

Watch this video to see a simple example.