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The company Budgets both for the fiscal year and for the open to buy can be set up and monitored using the budget application. Below actions are available under “Budgets”:

Samooha icon2  Create new budget, revise, update, delete, view and search for details.

Samooha icon2  Balance Sheet Settings: Create settings for accounts’ balance sheet and assign accounts, update, delete.

budget select account1

budget view1

budget icons3

Budgets - BS settings

Field Name
Description
Mandatory Information
Budget Date The budget creation date

Y

Budget Number Document’s number

Y

Fiscal Calendar A fiscal year is an accounting period of 365(6) days that does not necessarily correspond to the calendar year beginning on January 1st. The fiscal year is the established period of time when an organization’s annual financial records commence and conclude.

Y

Budget Reference

N

Branch Select the company’s branch

N

Description Description

N

Filter

N

Account  Account code and name

Y

Balance Sheet Setting – Configuration Name  Configuration name of the budget’s balance sheet settings

Y

Balance Sheet Setting – Branch  Which branch use this configuration settings

Y

Balance Sheet Setting – Type  Type of the configuration settings

Y

Balance Sheet Setting –Description  Self-explanatory

N

Create New Budget

1. Click “Create New Budget” button at the top left side of screen of “Budget List” tab, or Click “Create New” button at the bottom of screen of “Budget” tab

budget create

budget create2

2. Select a fiscal calendar from the drop-down list on top of the screen, then click “Save” button. It will fill up the account tables in “Profit And Loss” and “Balance Sheet” tabs

budget select account

3. Fill up budget’s information on the different tabs where applicable: “Profit And Loss”, “Balance Sheet”, “Schedules”, “Budget Capex”, “Days O/S”, and “Notes/Attachments”

*User may select the features by right click or click the icons on the selected account at “Profit and Loss” and “Balance Sheet” tab

budget details right click features

3.1 Show Account Register View

budget acc register

3.2 Show Analytical Entry Line(s)

budget analytical entry* The amount need to enter before allocate amount to Analytical Groups.

3.3 Spread Amounts

budget spread amount

3.4 Create / View Schedule

Schedules can be used to further classify account allocation to multiple sub items. These may be any miscellaneous items which are not in the chart of accounts. Example: Rental break down, Fees, Promotion, Other expenses etc

budget schedule1
*Additional information for the “Schedule” tab
budget schedule2

3.5 Delete Schedule

1. The schedule is deleted from “Profit and Loss” or “Balance Sheet” tab not from “Schedule”.budget schedule delete

2. After delete the schedule, the budget method will change back to “Enter by user” instead of “Use Schedule”

budget schedule delete1

3.6 Add / Modify Comments

budget comment
*If comments are entered, the columns will be rendered with a ” Star* “ and upon clicking the cell, a pop with the comment is shown.

3.7 Percentage(%) of Account(s) Monthly Balances

This feature allows to derive balances for an account using a percentage of selected account balances

     (a) From existing budget or previous budgets

     (b) From Actual data for selected fiscal calendar

budget acc balances1

3.8 Clear Account Balance

budget delete acc balances*The delete account balance features do not have the “Confirmation Delete” pop up notification, please check properly before click “Clear”

4. Click “Confirm Budget” button at the bottom of “Budget” tab screen and click “Yes” to confirm

budget confirm*Budget is required to be in “Drafted” status to confirm the budget.

5. The document can be approved once the status of the document is “Confirmed”. Click “Approve Budget” button at the bottom of “Budget” tab screen and click “Yes” to approve

budget approve

Budget Capex

User is allow to create budget for asset while creating budget for the year.

1. Click on the “Budget Capex” tab, fill up the Information required and click the “Plus” icon or “Enter” to add in the line

budget capex

2. Budget Capex is able to delete by using right click on the selected entry line.

budget capex delete*The info is not able to retrieved after deleted.

Days O/S

The feature is used to do the setting for the days understanding for DIO (Days Inventory Outstanding), DPO (Days Purchase Outstanding) and DSO (Days Sales Outstanding).

1. Click on the “Days O/S” tab, select the Days Outstanding Type, fill up the information and click “Plus” icon or “Enter” to add the info into entry line.
budget days OS

2. User is able to add or view comment in the selected month and selected type of Days Outstanding.

budget days OS comment

Revise Approved Budget

User is allow to create budget revision after budget is approved using the list view or document view. Budget revision creates a copy of the selected approved budget and transforms to a new budget for the selected document date. The newly created budget from the budget revision will maintain the same balances and retain the following from the revised budget:

  • Schedules
  • Budget capex information
  • Days outstanding DPO, DSO, DIO

(a) Create Budget Revision from Budget List view.

revise budget

(b) Creating Budget Revision from Budget Document View

revise budget2

Viewing foreign currency amounts in base currency

1. Foreign currency amounts are always shown in account currency, unless if it is a grouping account

budget foreign currency

2. To view the balances in base currency, Click on Show Balances in Base Currency

budget foreign currency2

Export Budget

1. Click on a fiscal calendar, it will bring up the budget document on the right side of the screen. Double click on the selected document, it will bring up the selected budget details on the “Budget” tab. Click on the “Export” icon and save the file as “CSV” format

budget export2

budget export1

Notes & Attachments

1. Additional notes and attachments can be added at document level. Click on the “Notes/Attachments” tab, fill up the information and click on “Save” button

budget attachment*The attachments/notes list will show at left side after save the notes/attachment

2. Double click on the selected attached document, the attachment will pop out

budget attachment1

3. The notes/attachments are able to delete by clicking the “Delete” button. Click on “Yes” if confirm to delete it.

budget attachment delete

Update Budget Details

1. Click on a fiscal calendar, it will bring up the budget document on the right side of the screen. Double click on budget document to be updated, it will bring up the selected budget details on the “Budget” tab. User has to “UnApprove Budget” before edit the document by clicking the “Generate Report” tab, the status will change from “Approved” to “Drafted”

budget reopen1*The revised budget is not able to Reopen.

2. Click “Save” button at the bottom of the screen when done with the updates

Delete Budget

1. Click on a fiscal calendar, it will bring up the budget document on the right side of the screen. Double click on budget document to be deleted, it will bring up the selected budget details on the “Budget” tab. User has to “UnApprove Budget” before delete the document by clicking the “Generate Report” tab, the status will change from “Approved” to “Drafted”

2. Click on “Delete” button at the bottom right side of screen

3. Click on “Yes” button on the pop-up window to confirm budget document deletion

budget delete

View and Search for Budget Details

1. Enter search parameter to filter the result, i.e. type in the budget name in the search textfield box at the bottom left of the screen.

Budgets - search

2. Click on fiscal calendar to view, it will bring up the selected fiscal budget on the right side of the screen

3. Right click on budget document, it will show options related to the budget document

Budgets - list - options

4. Double click on budget document to view, it will bring up the selected budget details on “Budget” tab

Balance Sheet Settings

budget bal sheet

Create New Balance Sheet Settings

1. Click “Balance Sheet Settings” tab at the bottom of screen

2. Click “Create New” button at the middle right side of screen

3. Fill up settings’ information.

4. Tick on the appropriate checkboxes

5. Click “Save” button at the middle right side of screen when done

budget bal sheet create*The balance sheet amount is able to edit on the “Balance Sheet” tab after Derived Balance Sheet.

Update Balance Sheet Settings Details

1. Click “Balance Sheet Settings” tab at the bottom of screen. Double click on a balance sheet setting to be updated, it will bring up the configuration on the right side of the screen.

2. Click “Save” button at the bottom of the screen when done with the updates

Delete Balance Sheet Settings

1. Click “Balance Sheet Settings” tab at the bottom of screen. Double click on a balance sheet setting to be deleted, it will bring up the configuration on the right side of the screen.

2. Click on “Delete” button at the bottom right side of screen

3. Click on “Yes” button on the pop-up window to confirm balance sheet setting deletion.

Budget balance sheet delete

Assign & Un-assign Account to / from Balance Sheet Settings

1. Click “Balance Sheet Settings” tab at the bottom of screen. Click on configuration settings to modify, it will bring up the selected configuration on the right side of screen

2. Click an un-assigned / available account from bottom left table, then click assign_button button at the bottom middle of the screen to assign it to the configuration settings

3. Click an assigned account from bottom right table, then click unassign_button button at the bottom middle of the screen to un-assign it from the configuration settings.

Budget balance sheet assign

Derived Balance Sheet

1. Click on the selected budget from the list.

2. Click on the “Balance Sheet” tab, and click “Derive Balance Sheet”.

budget derive balance sheet*Please ensure the Balance Sheet Setting is done.

3. The data will be fill up automatically and the “Derive Balance” will show in “Budget Method”.

budget derive balance sheet1