Create a budget

The Budget information page is where you create a unique ID—called a Budget ID—for your budget.

When you create a budget, the general process is to:

1. Create a budget using the Budget Information page.
2. Add data to the budget by:
   • Importing a budget from a CSV file
   • Connecting to Sage Intacct Planning
   • Entering budget amounts manually.
3. For Global Consolidations companies, create a budget and flag it as containing consolidated amounts. Tagging a consolidated budget lets you easily report on forecasted, annual, and local versus consolidated budget amounts.

Create a new named budget

1. Go to Budgets > All and select Add (circle) next to Budgets repository.
2. In the Budget ID field, enter a unique name to identify the new budget.

   Best practice is to give the budget an ID that doesn't reference a particular fiscal year or date. Then you can append new time periods to your existing budget.

3. Enter a Description to distinguish your budget from others with a similar name.

4. Select Create a new budget to create a budget from scratch.

   Consider uploading the data from a spreadsheet. Uploading a CSV file of budget data is a faster alternative to creating budgets manually. Go to uploading a budget from a spreadsheet for details.

5. For Global Consolidations companies: You can tag this budget as containing consolidated amounts by checking the Consolidated budget checkbox. Then, select which currency you're entering your amounts in from the Consolidated currency dropdown.

   You can create as many budgets as you need and mark each as consolidated or unconsolidated. This is useful for tracking your annual plan, actuals, and forecasts and comparing them side-by-side in a financial report. You can then specify if this consolidated budget is the default consolidated budget for your company for easier reporting.

   To use your consolidated budgets in financial reports, you must tag them as consolidated here. After you tag a budget as consolidated, it appears in the consolidated budget dropdown list when you create a financial report. For information on how to update a budget where amounts have been entered in consolidated currency, see Edit and update a consolidated budget from an existing budget.

   Be sure to convert your local budget from the entity-level currency into your consolidated currency, then upload the amounts to your consolidated budget.
6. To specify this budget as the default budget to use when you create financial reports, select the Default budget checkbox. There must be at least 1 top-level budget designated as the default.
   For Global Consolidations companies, check the Default budget checkbox if you this is the first consolidated budget you're creating with amounts in a specific currency. This enables you to select this budget as the default consolidated budget in financial reports. Update your default consolidated budget as you pass through the fiscal year and new budgets are created.

7. To allow a project estimate to post to this budget, select the Project estimate checkbox. Learn more about posting project estimates.

Edit and update a consolidated budget from an existing budget

This feature is only available in companies that use Global Consolidations.

To select a consolidated budget in a financial report, your budget must be tagged as consolidated. If your budget is not currently tagged as a consolidated budget, simply duplicate your existing budget and tag it as consolidated.

1. Go to Budgets > All > Budgets > Budgets repository.
2. Find the budget that you want to tag as consolidated.
3. Select More actions > Edit at the end of the row.
4. On the Budget Information page, select Duplicate.
5. Enter a new Budget ID.
6. Select the Consolidated budget checkbox.
7. From the Consolidated currency dropdown, select the currency your amounts have been entered in.
8. Select Save.

1. Go to Budgets > All > Budgets > Budgets repository.
2. On the Budgets list, next to the budget you want to tag as consolidated, select Edit.
3. On the Budget Information page, select Duplicate.
4. Enter a new Budget ID.
5. Select the Consolidated budget checkbox.
6. From the Consolidated currency dropdown, select the currency your amounts have been entered in.
7. Select Save.