Budget Journal Lines Sub-Tab
This section includes the fields and descriptions for the Budget Journal Lines sub-tab.
| Field | Description |
|---|---|
| Reference Date | In this field, you can enter a reference date for the current budget entry. When you create the first line in the budget journal, Maconomy suggests today’s date as the reference date. On subsequent lines, Maconomy suggests the reference date used on the previous line. |
| Entry Date | In this field you can enter the entry date of the current budget line. The date in this field is also the date from which Maconomy accrues the amounts on the budget line in the remaining periods of the budget. When you create a budget journal line, Maconomy suggests today’s date as entry date on the first budget journal line. If any subsequent budget journal lines are created, the entry date previously used is automatically suggested on new lines. |
| Account No. | Enter the number of the account on which you want to budget in this field. You can budget on all accounts except intercompany accounts |
| Entry Description | Here you can enter a text to describe the current journal line. |
| Allocation Key | Here you can enter an allocation key to be used on the journal line. An allocation key specifies how the difference between the opening and the closing amounts is to be distributed among the 12 periods on the line.
An allocation key can be a percentage allocation on all months or based on the allocation from a different budget model or an actual set of accounts. Allocation keys are created in the Allocation Keys workspace. If you want to use an allocation key based on percentages, the sum of the percentages must be 100 for it to be used. If you do not specify an allocation key, Maconomy will automatically allocate the amount to the periods in the year remaining from the date of entry. If you enter a change in the budget in the month of February, and the periods follow the months of the year, Maconomy will automatically allocate the amount evenly from March to December. You can allocate amounts manually by using the “Amount 1-12” fields. If you do this, you remove any allocation key previously entered, as the figures will then no longer match the allocation key. If you specify an allocation key after entering amounts manually in individual periods, these are overwritten with new values. Any allocation key specified is also transferred to the budget entry created as a result of the current line when the budget journal is posted. |
| Amount Opening, Base | Here you can enter an opening amount for the journal line if you have specified a balance sheet account in the “Account No.” field. If the journal line is for a P/L account, you cannot specify an amount in this field |
| Amount Closing, Base | Here you can enter a closing amount for the budget entry. The value in this field is equal to the amount in the field “Amount, Opening” plus the sum of values in the fields “Amount 1-12.”
You can specify a closing amount for balance sheet accounts as well as for P/L accounts. A closing amount for a P/L account expresses the sum of budgeted activity on the account for the current fiscal year. The difference between the opening and the closing amount for a balance sheet account is an expression of the expected change in the stock value of the current account. If you specify an amount different from zero in this field, Maconomy will overwrite any values in the fields “Amount 1-12” and allocate the closing amount in accordance with the allocation key. If you enter changes in the fields “Amount 1-12” at a later stage, Maconomy updates the value in the field “Amount, Closing,” which corresponds to the sum of the fields “Amount 1-12.” The sum of the opening and closing amounts must amount to a total of zero for all the journal lines of the budget journal, so that the budget journal is in balance. |
| Registration Code | In this field you can enter a registration code from the Registration Codes workspace in the G/L module. The registration code is convenient if you often use certain combinations of dimension values on the current line. |
| Company Name | This field displays the name of the company entered in the field “Company No.” |
| Company No. | In this field you can specify the number of the company that the journal line refers to. The company must use the same financial year as the selected budget model. If you do not enter a number, the company number from the Budget Journal tab is transferred to this field.
If the number in this field is different from the company number in the “Company No.” field in the Budget Journal tab, you have effectively made a transfer between two companies. When you approve the budget journal, Maconomy will create intercompany postings since you are not permitted to post on the budget of another company. See the description of the Intercompany Accounts workspace in the G/L module for a discussion of intercompany balances. |
| Location | In this field you specify a value for the “Location” dimension. Together with the other 11 G/L dimensions and the 8 module dimensions (customer, vendor, job, employee, and so on), this value determines the allocation combination of the journal line. |
| Entity | The functionality of this field is similar to that of the field “Location” above. |
| Project | The functionality of this field is similar to that of the field “Location” above. |
| Purpose | The functionality of this field is similar to that of the field “Location” above. |
| Spec. 1-3 | The functionality of these fields is similar to that of the field “Location” above. |
| Local Spec.1-3 | The functionality of these fields is similar to that of the field “Location” above. |
| Customer No. | In this field, you can specify a customer created in the A/R module. If you enter a job number on the line, the customer number in this field must be the customer specified on the job in question. If no customer number has been specified, and you enter a job number, the customer number from the specified job is automatically transferred to this field. |
| Vendor No. | In this field, you can specify a customer created in the A/P module. Together with the seven other module dimensions (customer, vendor, job, employee, and so on) and the 12 G/L dimensions, this value determines the allocation combination of the journal line. |
| Job No. | The functionality of this field is similar to that of the field “Customer No.” above. If you enter a job number, the customer number in the field “Customer No.” above must be the customer specified on the job. If no customer number has been specified, and you enter a job number, the customer number from the specified job is automatically transferred to the budget journal line.
Note: Any job allocation combination rules assigned to the job are ignored, as Maconomy does not check whether the allocation combination on the current line complies with the job allocation combination rules of the job. For further information about job allocation combination rules, see the description of the Job Allocation Combinations workspace in the Job Cost module.
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| Activity No. | The functionality of this field is similar to that of the field “Vendor No.” above. |
| Task Name | The functionality of this field is similar to that of the field “Vendor No.” above. |
| Employee No. | The functionality of this field is similar to that of the field “Vendor No.” above. |
| Item No. | The functionality of this field is similar to that of the field “Vendor No.” above. |
| Asset No. | The functionality of this field is similar to that of the field “Vendor No.” above. |
| Amount 1-12, Base | If you have specified an opening amount, a closing amount, or both, and perhaps an allocation key, the values in the “Amount 1- 12” fields will be filled in automatically by Maconomy.
As an alternative, you can specify allocated amounts manually for one or more periods, and you can manually change an allocated amount. If an amount in one of the “Amount 1-12” fields is changed, the closing amount will be changed accordingly for the current journal line. When allocating manually, any previously selected allocation key is canceled. |
| Quantity Opening | Here you can enter an opening quantity for the journal line, if you have specified a balance sheet account in the “Account No.” field. If the journal line is for a P/L account, you cannot specify a quantity in this field. |
| Quantity Closing | Here you can enter a closing quantity for the budget entry. You can enter a closing quantity for both balance accounts and P/L accounts. The value in this field is equal to the sum of values in the “Quantity 1-12” fields.
A closing quantity for a P/L account expresses the sum of budgeted activity on the account for the current fiscal year. The difference between the opening and the closing quantity for a balance sheet account is an expression of the expected change in the stock value of the current account. If you later on enter changes in the “Quantity 1-12” fields, Maconomy updates the value in the “Quantity, Closing” field, which corresponds to the sum of the “Quantity 1-12” fields. The sum of the opening and closing quantities must amount to a total of zero for all the journal lines of the budget journal, so that the budget journal is in balance. |
| Quantity 1-12 | If you have specified an opening quantity, a closing quantity, or both, and perhaps an allocation key, the values in the “Quantity1-12” fields will be filled in automatically by Maconomy. As an alternative, you can specify allocated quantities manually for one or more periods, and you can manually change an allocated quantity. If a quantity in one of the “Quantity 1-12” fields is changed, the closing quantity will be changed accordingly for the current journal line. When allocating manually, any previously selected allocation key is canceled. |
| Copy from Budget Model | In this field, you can specify a reference to an existing budget model, causing Maconomy to copy amount, quantity, and dimension information from a given budget entry within that model to the current line. The information is transferred from the budget entry that has the entry number specified in the field “Entry No.” in the specified budget model, overwriting any information previously entered on the line.
Copying information from existing entries can be used for two purposes: reusing amount or dimension information on new entries, or reallocating existing budget entries. If you simply wish to reuse information from a given budget entry in a given budget model, enter the number of the budget model to which the entry belongs in this field. In the field “Entry No.,” you can then specify the number of the desired entry within that budget model. Maconomy suggests the budget model specified in the card part of the current budget journal. When you press Enter, Maconomy retrieves the dimensions, amounts, and quantities of the specified entry, and you can change the information as you desire. If you wish to use the functionality for reallocating a budget entry, you must create several lines to set off the original entry and post the correct budget information. For an example of this use of this field, please see the description of the field “Invert Sign” below. |
| Entry No. | In this field, you can specify a reference to an existing budget entry in the budget model specified in the field “Budget Model” above, causing Maconomy to copy amount, quantity, and dimension information from the specified budget entry. For further information on the use of this field, see the description of the field “Copy from Budget Model” above. |
| Invert Sign | In this field, you can specify that you wish the sign to be inverted (for instance from plus to minus) on amounts and quantities retrieved by specifying a budget model in the field “Copy from Budget Model” and an entry number in the field “Entry No.” This field can, for example, be used if you wish to reverse an erroneous budget entry. The field is only used when an entry number has been specified on the line, and once you press Enter, the field cannot be changed.
For example: In a previous budget journal, you entered a budget entry for 5,000 units in the base currency of the current company (in this case USD) to account number 2140, specifying the location “NY.” This entry is to be reallocated to the location “LA,” but with the same account and amount. In the Show Budget Entries workspace, you have found the entry number which is 1024 in the budget model “Budget 2003.” Create a budget journal for budget model “Budget 2003.” In the table part of the budget journal, specify “Budget 2003” in the field “Copy from Budget Model” and the number 1024 in the field “Entry No.” Delete any values in the account, dimension, and amount fields, and mark the field “Invert Sign.” Then press Enter. Maconomy now transfers the information from budget entry number 1024 in budget model “Budget 2003,” but with inverted amounts and quantities. This entry will set off the original entry. Create a line, once again making sure that the account number, dimensions, and amount fields are empty, and once again specifying budget model “Budget 2003” and entry number 1024. The information is transferred again, but this time with the original sign on the amounts. The location can now be changed from “NY” to “LA.” |