Budgeting—Key Exercises

Basic Data Setup

Purpose: The purpose of this exercise is to set up the basic data that you need in order to perform the other exercises in this lesson.

Basic Data and Requirements

Required Data

Purpose: Some information must be entered in the system before you start with the main exercises in this lesson. To enter this data, complete the Create Budget Version exercises, or enter the information listed in the tables below:

Enter a Budget Version

Enter Budget Versions over Several Years

Enter Allocation Key called SEASON

Main Exercises

Annual Budgeting

Enter Annual Budget

Purpose: The purpose of this lesson is to enter budget values for a year using several parts of the chart of accounts and an allocation key.

Windows:
Budget Year Amount

1. Open the window, and query for Budget Version 2000 V1.
2. Enter new budget rows using the information in the table below.

Account	Cost Center	Amount	Quantity
6090	101	4000
6090	201	2000
6090	202	3000
3014	101	–8000
3014	201	–4000
3014	202	–6000

Tip: When entering budget values for the same account, use the copy line feature (F6) once you have entered the first line.

Tip: When budgeting on the same cost center but different accounts, right-click and then click Fixed Code String to enter a unique cost center.

3. Save your changes.

4. Select a line, right-click, and then click Allocate All Year Values. The value type changes to Allocated for all rows. Because we are not using an allocation key, the amounts are distributed evenly (1/12 for each period).

Search and Analyze the Period Values 

Purpose: The purpose of this exercise is to verify your allocated yearly amounts in the different periods and sort the budget lines for analyze matter.

Windows:
Budget Period Amount

1. Open the Budget Period Amount window, and query for Budget Version 2000 V1.

2. Several lines are displayed on the screen. These lines are ordered by account and period, starting with Account 3014, Period 1.

3. From the table portion of the window, open the query window. Enter Periods as the primary sort criterion and Account as the secondary sort criterion.

4. Click OK, and view the result.

Modify the Annual Budget Values

Purpose: The purpose of this exercise is to modify your previously annual values and distribute them to the periods by using the earlier created allocation key Season.

Windows:
Budget Year Amount

1. Open the Budget Year Amount window, and query for Budget Version 2000 V1.

2. Update your budget lines using the information in the table below. Use the List of Values when selecting the allocation key.

Account	Cost Center	Amount	Quantity	Allocation Key
6090	101	5,000		SEASON
6090	201	3,000		SEASON
6090	202	1,500		SEASON

3. Save your changes.

4. Right-click and then click Allocate Unallocated Year Values to update the periodic budget values.

Modify the Allocation Key 

Purpose: The purpose of this exercise is to modify the budget values using allocation key reflecting a change of estimation in seasonal fluctuations. 

Windows:
Budget Allocation Keys

1. Open up the Budget Allocation Keys window, and query for the allocation key SEASON.

2. Select the lines that you want to change, and select them for deletion.

3. Enter the new lines using the information in the table below.

Budget Period	Allocations Percentage
1	2.00%
2	5.00%
3	10.00%
4	12.00%
5	16.00%
6	12.00%
7	10.00%
8	12.00%
9	10.00%
10	6.00%
11	3.00%
12	2.00%

4. Make sure that the total is 100% before you save the allocation key.

5. Save your changes.

Copy Budget Version

Copy Budget Version and Use Change of Values

Purpose: The purpose of this exercise is to create a budget for 2001 using an existing budget version and increase all budget values with 5%.

Windows:
Budget Versions

1. Populate the Budget Versions window, and make sure that Budget Version 2000 V1 is available.

2. To copy a budget from an old one, you need to create a new budget version. Create a new record, and enter Budget Version 2001 V1. The budget year should be 2001, but the rest is the same as budget version 2000 V1.

3. Select the line with Budget Version 2000 V1, right-click, and then click Copy Budget Version to open a new window. In this window, enter the information from the table below in each field. The rest of the information remains unchanged. Use the List of Values when possible.

Field	Data
To Budget Year	2001
To Budget Version	2001 V1
Change of Value	5%

4. Click OK to copy the budget values.

Note: This changes your initial budget values from the original version with 5%. It might be used as a rough update of all values for next year based on a general sales forecast.

Transfer General Ledger Balances

Transfer General Ledger Balances Using Year Values

Purpose: To create budget values to a certain budget version from the general ledger historical balances. 

Windows:
Budget Versions
Budget Year Amount

1. Open the Budget Versions window, and query for Budget Version 2000 V1.

2. Select the line, right-click, and then click Initiate Start Values.

3. Under Initiation Type, click Year Values Ledger Balances.

4. Under Source Ledger Balances, enter the following values:

   Field	Data
   From Accounting Year	2000
   From Accounting Period	1
   Until Accounting Year	2000
   Until Accounting Period	12

5. Enter Accounts 3000 to 9999 as the selection interval, and click OK. This creates a budget for revenue and cost accounts from historical balances. If budget values are already in this budget version, they are removed or replaced with your new values based on the general ledger balances. 

6. Open the Budget Year Amount, and query for Budget Version 2000 V1.

Export/Import Budget Values

Purpose: The purpose of this lesson is to create a budget file and use Excel to change budget amounts and also importing and updating the budget in the general ledger.

Windows:
Budget Versions

Export Budget Values

1. Open the Budget Versions window, and query for Budget Version 2001 V1.

2. Select the line, right-click, and then click Export to File.

3. Click Browse, select the destination directory, enter the file name for the export file, and then click Save.

4. Click OK to perform the export.

Import Changed Budget Values

1. Open the Excel file, and change some of the amounts. 

2. Save your changes.

3. Open up IFS Applications.

4. Open the Budget Versions window, and query for Budget Version 2001 V1.

5. Select the line, right-click, and then click Import from File.

6. Click Browse, select the Excel file that you just updated, and then click Open.

7. Click OK to perform the import.

Periodic Budgeting

Enter a Periodic Budget.

Purpose: The purpose of this exercise is to enter periodic budget values.

Windows:
Budget Period Amount

1. Open the Budget Period Amount window, and query for a budget version for which values have not been entered.

2. Enter budget values for the accounts that you want to use.

3. Save your changes. You now have a periodic budget with which all reports and queries will be compared.

Modify the Periodic Budget Values

Purpose: The purpose of this exercise is to modify your previously annual values and define the values as period specific.

Windows:
Budget Period Amount
GL Balance Analysis

1. Open the Budget Period Amount window, and query for a budget version for which annual budget values have already been entered.

2. Change the budget lines as desired, and save your changes.

3. Use the query report GL Balance Analysis to see how the changes affected the periodic budget.

Income Statement Report

Print Income Statement Report from IFS/Report Generator

Purpose: The purpose of this exercise is to show you how to create a report and display all previously entered budget amounts on the screen.

Windows:
Users per Authority Class
Order Reports

1. To be able to run the report in this exercise, the user must belong to an Authority class. Open the Users per Authority Class window. Enter user ID and set Authority Class to Max.
2. Open the Order Reports window. In the Report field, the Report Parameters tab, select the IFSR7 report (P&L based on account) from the List of Values.
3. In the Reference Period field, change the period to Year 2000, Period 10.
4. In the Budget Version field, enter 2000 V1, or use the List of Values to choose from the existing budget versions.
5. Click OK to run the report.
6. Click Preview to view the report on the screen.

Recalculation of Budget

Enter a Recalculation Rule

Purpose: The entry of the recalculation rule is the basis for how the budget values will be recalculated.

Windows:
Budget Recalculation Rules

1. Open the Budget Recalculation Rules window, and create a new record.
2. Enter the information from the table below to adjust your budget amounts. Leave all other fields blank.

Account	Cost Center	Percentage
6090	2%	5%

3. Save your changes.
4. Right-click and then click Apply Recalculation Rules.
5. Enter a budget year, and enter the budget version to apply your recalculation.
6. Click OK to recalculate all budget values.

Delete Budget Version

Delete Budget Version

Purpose: The purpose of this exercise is to delete the budget version, including the budget values, you have entered earlier. 

Windows:
Budget Versions

1. Open the Budget Versions window, and find the budget version that you want to remove. 

2. In the Budget Status field, change the status to Removable.

3. Save your changes.

4. Select the line with the budget version that you want to remove.

5. Right-click and then click Remove Budget Version. The Remove Budget Version window is displayed on the screen.

6. Verify that the information in this window is correct, and then click Remove.