Creating Budget Entries

This section provides information on creating budget entries.

The next step is to create budget entries in a budget model. First you enter journal lines in the window Budget Journal. On every line you specify an allocation combination of up to 12 dimensions and the amount or quantity of the entry. Maconomy enables you to budget with amounts or quantities in every window. Quantity budgeting is for instance used in industries that produce or process raw materials, such as in forestry, waterworks, and road construction.

When the amounts (quantities) in the journal balance, the journal can be approved. When a budget journal is approved, the journal lines are converted to budget entries in the current budget model. You can create and approve an unlimited number of budget journals and budget journal lines, and consequently create an unlimited number of budget entries.

One budget entry is created for every journal line. When creating budget entries between two companies, Maconomy will further- more create entries on an intercompany account. When making an intercompany balance, the amounts are converted into the base currencies of the different companies. Conversion of currencies is always made on the basis of the exchange rate date exchange rate date January 1st in the fiscal year registered for the budgeting company.

If budget entries in a given budget model are created with the same allocation combination, they can be inspected both individually and as totals. This is described in the following sections.