Budgeting
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The document provides an overview of budgeting in Sage 100 Fund Accounting, outlining the three main ways to enter a budget - using the budget worksheet, importing from Excel, or direct transaction entry. It discusses the importance of budgeting for financial planning and management. Tips and considerations are provided for each budget entry method as well as using additional features like budget versions and units tracking.
Budgeting
- 1. Budgeting Provided by: The McGovern Consulting Group, LLC Your Local Sage 100 Fund Accounting Business Partner 888-876-1544 | www.mcgoverncg.com
- 2. About Today’s Course • During this one-hour session we will cover the three ways to get budget entered into Sage 100 Fund Accounting (Formally MIP): – Budget Worksheet – Importing From Excel – Direct Transaction Entry • We will review various availably reports, budget versions along with tracking non-financial dollars budgeting (units tracking of budgets). We will also look at the budget worksheet report, and account groupings.
- 3. Learning Objectives • Understand The Importance Of Budgeting • Streamlining the Process • Understand All of the Various Option Available • Meet Financial Goals
- 4. Challenges • Only Once a Year (Usually) • Changes Year to Year (How your organization budgets) • Multiple Levels of Budget Reporting • Grant Budgets = Organization Budget?
- 5. Why Is Budgeting Important ? 1. Get a grip on your spending 2. Curb impulse purchases 3. Find ways to cut costs 4. Build an Emergency Cash Fund 5. Set and prioritize financial goals 6. Start a Savings Program 7. Cash Flow Management 8. Distinguish between wants and needs
- 6. Modules of Sage 100 Fund Accounting 1. General Ledger – Provides – Transaction Budget Entry 1. Limitations – only two versions 2. Transaction screen entry only 3. Ability to Import into Budget Transactions 4. Limited Budget Reporting 2. Budget Worksheet 1. Additional Budget Reporting 2. Unlimited number of Budget Versions 3. Excel looking entry screen 4. Streamline efficiency of copy budget from version to version Using the Wizard
- 7. Options for Entry 1. Straight Transaction Entry 2. Straight Entry & Use of Memorize/Recall Documents 3. Import from Excel into Budget Transaction 4. Budget Worksheet
- 8. Units? 1. You can budget Units through Sage 100 Fund Accounting 2. This is established as a User Defined Field in Administration 3. Examples: 1. Units of Service 2. Days in Month 3. Attendance 4. FTE
- 9. Straight Entry • No Different then any other Transaction Entry in Sage • Effective Dates define Year to Date Budget/Total Budget
- 10. Use of Memorized Documents 1. Enter the First Month (1/12) 2. Memorize the document 3. Recall it for the next 11 months and update the effective date
- 11. Budget Worksheet • Use of the Wizard to Build Worksheets • Entry Efficiencies
- 12. Budget Worksheet Step By Step Guide
- 13. Budget Worksheet Step By Step Guide
- 14. Budget Worksheet Step By Step Guide
- 15. Budget Worksheet Step By Step Guide
- 16. Budget Worksheet Step By Step Guide
- 17. Budget Worksheet Step By Step Guide
- 18. Budget Worksheet Step By Step Guide
- 19. Budget Worksheet Step By Step Guide
- 20. Budget Worksheet Step By Step Guide
- 21. Budget Worksheet Step By Step Guide
- 22. Budget Worksheet Step By Step Guide
- 23. Budget Worksheet Step By Step Guide
- 24. Budget Worksheet Step By Step Guide Tips: Titles are driven from Short Titles in the Account Setup Under Maintain Chart of Accounts Right Click on Numbers to Use Modify Selected Items
- 25. Importing From Excel Importing Into Sage 100 Fund Accounting Almost Everyone Owns the Import/Export Module Two Click Import Process
- 26. Still Not Sure Where to Start? MCG Budget Calculator Do You: • Struggle getting your budget into Sage Fund Accounting? • Prepare your budget in Excel before re-entering it manually into Sage MIP Fund Accounting? • Spread the budget by 12 months equally for most accounts? The McGovern Consulting Group developed an Excel based workbook tool to help streamline the preparation and entry process into Sage Fund Accounting! Just answer a few questions, enter the annual amounts and your budget is ready for import into Sage Fund Accounting. The Budget Calculator Allows Users To: • Use your own financial statement format or grouping of accounts • Unlimited number of subtotals by Rows and by Columns • Data validation and error report generation prior to importing budget transactions • If your budget has already been prepared in Excel, simply copy and paste it into the budget tool • Eight user definable fields to be used during the import process (these could include segments of the chart of account, user defined fields, descriptions, or other miscellaneous items, such as Program Manager names • Works with any Budget Version tracked in Sage MIP Fund Accounting • Auto generates the Session ID prior to import • Unlimited number of account code combinations • Flexible date ranges allow for grant cycles and budget entries overlapping fiscal years ng fiscal years ty
- 27. Take Away • PowerPoint • Better Understand of Options • Should you need assistance in any aspect of budgeting, please let us know.
- 28. CONNECT WITH US Get Connected With The McGovern Consulting Group Today To Learn About Upcoming Events Twitter – www.twitter.com/McgovernCG Facebook – www.facebook.com/McgovernCG LinkedIn – http://www.linkedin.com/company/mcgovern-consulting- group-llc YouTube – www..YouTube.com/McGovernCG SlideShare – www.slideshare.net/mcgoverncg Blog – www.mcgoverncg.com/blog 888-876-1544 | www.mcgoverncg.com