About the GL Initialize Budgets Form
Use the GL Initialize Budgets form to create and set up budgets for any budget code/fiscal year.
You can access the GL Initialize Budgets form directly from the main menu or from the GL Budgets form by selecting.
Once you specify which budget code, fiscal year, and account code(s) you wish to set up, you must specify whether to use existing data or selected amounts.
Initializing Based on Existing Data
If you are initializing based on existing data, you must indicate whether to base the initialization on actual GL account balances or on another budget code, and whether to modify the budgets by a certain percentage or amount.
Actuals – Select this option to initialize based on actual account balances. All accounts except inactive and heading accounts will be initialized.
Budgets – Select this option to initialize based on existing budget amounts. Only accounts with existing budgets for the specified 'based on' Fiscal Year Ending will be initialized. Beginning balances will be initialized for each GL account as applicable.
Initializing Based on Selected Amounts
If you choose to initialize based on selected amounts, the inputs will differ than those used when initializing based on existing data. Instead, you will have the option to initialize based on a selected time frame (i.e. Month, Quarter, or Annual), a specified amount, and Dr/Cr value.
Month – If you select this option, you will need to specify a monthly amount, which will be applied to each month on the form. If you need to change certain months, you can edit them manually in the desired months.
Quarter – If you select this option, additional inputs will display for entering amounts for each quarter. The quarterly amounts will be used to calculate the monthly amounts. If you need to change certain months, you can edit them manually.
Annual – If you select this option, you will need to specify an annual amount. This amount will be used to calculate the monthly amounts. If you need to change certain months, you can edit them manually.
Once you specify the initialization criteria, click Initialize. If initializing an account with an existing budget, be aware that initialization will overwrite the existing budget amounts.
After you complete the initialization process, you can maintain/edit your budget using the GL Budgets form.