Creating a New Budget
Creating a New Budget
Select Accounting > Budgets. If you are using universal navigation, click Accounting > Budgets > Budgets.
Click New.
Complete the required fields:
Search for and select the association in the association search field.
Budget: The Budget field will only display if there are previously started or saved budgets to use as a template.
Fiscal Year: Select a Fiscal Year.
You can only create a budget for a Fiscal Year with an open fiscal period. If you need to edit a budget for a year that does not appear in the Fiscal Year field, go to the Reopen tab on the Accounting > Fiscal Periods screen to reopen a fiscal period. If you are using universal navigation, click Accounting > Settings > Fiscal Periods.
Ending Date for Actual: Defaults to today's date. Select the cutoff point for existing data, which is usually the last day of the previous month.
Default Distribution: Select one of the following methods:
Annual: This distribution method allows you to enter in Budget amounts into each individual month and the New Budget column is calculated from these amounts.
Monthly: This distribution method allows you to enter an amount in the New Budget column. It is distributed evenly throughout the months, except the last month, which will contain the remainder of the balance.
Include Accounts: Select All Accounts or Only Accounts with Budget or Actual Activity.
Fiscal year Budget (If Never Budgeted): Select Leave as $0.00 or Copy Prior Year Budget Values.
Budget Description: Enter a description. This appears on the Budgets screen.
Click Save. The budget will now appear on the Budgets screen.
Once the budget is created, you can perform the following procedures: