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The Budget Preparation module allows for budget formats to be defined for work papers and reports at each level of your budget preparation process. During budget formulation, all object and revenue line items currently in use by the financial system are accessible by the budget subsystem. Projected budgets can be created by multiplying selected portions of the current budget or other specified budget, by a given percentage. The system also allows the user to develop budgets for funds with different fiscal years. The budget work sheet screen(s) display line items you can automatically adjust for the proposed budget column based on a fixed increase/decrease percentage. You can indicate whether the calculation should be done for selected cost centers only or for all cost centers for which this line item is budgeted. Multiple versions of the budget can be maintained for each cost center. Each version typically contains the base budget and various enhancements, or changes, at the line item level.
The Budget Preparation module provides automatic installation of your adopted budget. After final budget approval, all proposed budget versions are available for on-line inquiry during the next year. Budget allocation can be on a pro-rata basis, specific monthly spending plans where annual budgeted amounts are distributed to selected months, as well as a percentage distribution per month option. Access to budget screens can be controlled through system security.
Budget amounts can be amended at any time. All amendments to the final approved budget are input as transactions and maintained in a budget ledger file. Any files in other subsystems, or the primary financial system using budget data, will reflect these changes. The Budget Preparation System interfaces with the General Ledger and the Report Writer.
Standard Budget reports include budget work sheets for each budget. The format for budget work sheets includes one historical budget, an original budget, current budget and one proposed budget and are user defined. Projected budgets can be viewed through current financial statement formats. The user can create queries and/or reports using data from any of the fields within the Budget Preparation system. The report writer transfers this data in either ASCII or comma delimited format.
"Budget Preparation" is part of the InVision line of products, developed by Incode.