The Manage Budgets window allows you to set up both annual and period budgets. The annual budget is the sum of all the individual period budgets. Therefore, if period budgets change, so might the annual budget.
Budgets are established for each fiscal year, so you must specify the year that the budget is associated with.
Before you start adding a new budget, there are a few decisions you need to make:
Do
you want to budget month-by-month
and have the total annual budget be the sum of the monthly budgets
- or -
do you want to set an annual budget
and have each monthly budget be 1/12th of the annual total?
If you have multiple locations,
do you want to set a budget for each
location and have the company budget be the total of the location
budgets
- or
-
do you want to set a budget for the
company as a whole?
If you have a budget from last year,
do you want last year's budget to
roll over to this year
- or
-
do you want to start this year from
scratch?
Note
These are either/or decisions; you can't have both options, but sometimes you can change your mind and switch to the other choice.
Use the Manage GL Administration window to set whether to calculate the company’s budget from location budgets.
What you'll find: