You can set budgets up for your nominal accounts for standard chart of accounts as well as for the Advanced Nominal Ledger set up.
You can add budgets on to any nominal accounts and use the Budget screen as the enquiry for all the budgets you have created.
You can add a new budget on the Budget screen too however there are certain conditions that apply, and the following steps show you how can do this as well as take you through how you can add budgets directly from nominal accounts
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Add budget for a nominal account on standard chart of accounts directly from a nominal account:
Click Financials and then click Accounts.
Note: The Nominal Accounts Record List screen opens displaying all your nominal accounts.Select the checkbox in front of the account you wish to work with.
Note: The Action Panel automatically open from the right-hand side of the screen.Click Add Budget.
On the Nominal Budgets screen, select a year and click Save.
Note: The Revision number increments with the next number once you have selected a year.Add the budget values for each period and click on Save if you don't want to add budgets for another nominal account.
To add a new budget for another nominal account, click on + New Record button.
On the new line, select or type in the nominal account you want to add the budget for and enter the values for each period, then click Save.
Add budget for a nominal account on Advanced Nominal Ledger directly from a nominal account:
Click Financials then click Chart of Accounts.
Note: The Chart of Accounts screen opens as default in view mode with the built nominal accounts list collapsed.Click on the expand arrow to gain access to the Detail Category.
Note: All the Detail Category records are listed on the screen.Select the checkbox in front of the account or accounts you want to work with.
Note: The Action Panel automatically opens from the right-hand side of the screen with the available actions. The action cards are security profile permission driven.Click Add Budget.
On the Nominal Budgets screen, select a year and click Save.
Note: The Revision number increments with the next number once you have selected a year.Add the budget values for each period and click on Save if you don't want to add budgets for another nominal account.
To add a new budget for another nominal account, click on the + New Record button.
On the new line, select or type in the nominal account you want to add the budget for and enter the values for each period, then click Save.
Add budget for a nominal account from the Budgets screen:
You can only use the Budgets screen to add in new budgets when you already have at least one budget already set up for a nominal account.
Click Financials and then click Budgets.
Note: The Budgets screen opens listing all existing budgets.Select the Revision Number that you wish to add more accounts and budgets to on the Advanced Filter panel.
Select the checkbox in front of a record and click on the Edit button at the bottom of the screen.
You can edit any budget values for the existing account or accounts, to add a new one, click on the + New Record button.
On the new line, select or type in the nominal account you want to add the budget for and enter the values for each period, then click Save.