What This Process Does
- Creates a budget line for the account code.
- To verify that the budget was successfully added, run the Expenditure/Revenue Summary Report (Finance → Financial Management → Reports → Summary → Expenditure/Revenue → Summary)
- Range on the account code you want to see the budget for.
- The budget amount will be located in the appropriation column.
Best Practices
- Budget Prep – If a budget is prepared through the Budget Prep module, no journal entries are necessary to create a budget for an account code.
- Active Account Code – Before creating a budget through journal entries, verify that the account code itself is active.
Creating a Budget via Journal Entries
- Finance → Financial Management → J/E Tab → Add Journal Entries
- Populate the following fields with the proper choices. The table below will give further instructions.
- Once all fields are populated, click Save.
- The Audit Trail will follow. If correct, set the flags.
- Continue to distribute and post the activity of the journal entry.
Table Explanation
- The table below will describe what is required when adding a budget to an account code.
| FIELDS | Opt. | Rec. | Req. | Description |
|---|---|---|---|---|
| Journal ID | — | — | ♦ | Type in: Original Budget |
| Fiscal Year | — | — | ♦ | The fiscal year in which the journal entry will be entered |
| Override CM | — | — | ♦ | If the fiscal month needs to be changed, set this to true |
| Fiscal Month | — | — | ♦ | The fiscal month in which the journal entry will be entered |
| Account Type | — | — | ♦ | Type in: Expenditure or Revenue |
| Journal Entry Type | — | — | ♦ | Type in: Appropriation for Expenditure Type in: Estimated Revenue for Revenue |
| Annual Budget Amount | — | — | ♦ | Will illuminate once Journal Entry Type is populated with Appropriation |
| Account Code | — | — | ♦ | The account code where the budget will be entered |
| Amount | — | — | ♦ | The amount of the budget |
| Opt. = Optional Rec. = Recommended Req. = Required | ||||