Set Up Budgets Template

Setting up budget templates is the first step in the budgeting process.

To set up budget templates, follow these steps:
  1. Create the template and enter basic information
  2. Create a budget hierarchy
  3. Create a budget Chart of Accounts
  4. Populate Employee Categories
  5. Deploy the templates

Related Topics:

  • Create the Template
    The first step to setting up your budgets template is to create the template and enter basic information.
  • Create a Budget Hierarchy
    Budget Hierarchy includes all business units which must submit their budgets. In Financial Budgeting, they are organized in tree-like structure. Dark gray lines with bold font are the Sum Budgets (described later in this document), which are use as a consolidation points for all subordinate budgets. Light grey lines are the Main Budgets which are use for the budgeting.
  • Create Chart of Accounts
    After the budget unit structure is complete, create a budget-specific Chart of Accounts (CoA). CoA structure follows the same logic as the budgeting structure, including Sum Lines, used for summarizing all subordinate lines, and Main Lines where budgeting is done.
  • Set Up Employee Categories
    After creating the budget hierarchy is complete, next provide information about employee categories.
  • Deploy Templates
    Once all of the above steps are complete, the template can be deployed to all budgeting units.
Parent Topic: Procedures