Introducing the Budget Module

The Budget module is a powerful planning and reporting tool for any organization to use when creating budgets for any time frame, including multiple fiscal years. You can create customized budgets for individual grants, programs, or account segments and then consolidate those budgets by posting budgets directly to the General Ledger.

Using a spreadsheet format, you can quickly enter budget data, either populating the worksheet from historical budget data or actual data, or by entering appropriate budget amounts manually. Amounts entered either way can be modified, spread or cut and pasted within account ranges and dates as needed. Budget worksheets can also be modified using special criteria selections to increase or decrease monetary values by percentages, set amounts, or other means.

After finalizing a budget worksheet, the system converts the worksheet into budget entries ready for posting. After posting, budgets can be modified as needed with the Revision Budget worksheet. The system provides many standardized reports for budget tracking and comparison, and you can create any number of customized reports. Budget monitoring warns you when transactions exceed budgeted monetary amounts.

To Add This Module

1. First the Budget module must be added to the organization by the Administrator.
2. Either add the Budget module to a current organization (Organization>Add a Module Wizard - Module Panel), or select the Budget module when creating a new organization (File>New Organization Wizard - Modules Panel).
3. Once the Budget module has been added to an organization, the Budget menu selections are available. These selections are integrated into the MIP Fund Accounting menu selections.
4. There are Checklists available for setting up this module and its processes. Please refer to the online help (Help>Contents and Index>Reference) for modular specific menu selections, checklists, and common questions.