Methods for Creating and Maintaining Standard Budgets

You can set up standard budgets based on fixed amounts or percentages. In addition, you can set up standard budgets by:

  • Copying amounts from other ledgers.

  • Cloning existing budgets or loading data from spreadsheets.

  • Using automatic replication and spreading.

  • Creating an unlimited number of budget versions.

  • Configuring budget worksheets with PS/nVision.

You can also set up standard budgets that:

  • Budget at any level in the organization.

  • Budget for any period of time.

  • Reflect potential organizational changes in budget reports without affecting current financial reports.

    You can use PeopleSoft Tree Manager to do this.

Note:

General Ledger integrates with PeopleSoft Budgeting, which shares all of the functionality described in this section. If you use PeopleSoft Budgeting to manage the budget process and prepare budget ledger data, you have immediate access to that budget data for reporting and comparison with General Ledger actuals data. Many of the steps described in this section apply only if you do not use PeopleSoft Budgeting for budget preparation.

See PeopleSoft Enterprise Planning and Budgeting

Typically, you maintain budgets in an unbalanced ledger. With expense budgets and sales forecasts, for example, you are normally concerned with only one side of the accounting equation. Because you use most budgets for planning and analysis (and you continually modify and round them), you may not need to create an exact offset every time that you change a budgeted amount. The Detail Budget Maintenance pages that enable you to modify budget rows directly are supported against unbalanced ledgers only.

In General Ledger, you can:

  • Enter and modify budget amounts by sets of ChartFields or by period.

  • Enter a lump sum to be spread across multiple periods for a ChartField combination.

  • Copy any combination of ledger rows from existing ledgers.

  • Import budgets from spreadsheets.

  • Allocate amounts to a budget ledger.

  • Enter budget journals.

    Except when entering allocations and budget journals, you update the ledger balances table directly with no audit trail. By entering journals and posting them to the budget ledger or selecting the Request Allocations option to create journals in allocations, you maintain the same audit trail as with actuals (recording) transactions.

  • Create an all-encompassing and detailed budget by cloning the actuals ledger, and then you can generate a budget summary ledger to maintain higher-level information.

  • Create a budget using an across-the-board percentage, such as a payroll increase based on a 4.5 percent cost-of-living index or a sales target forecast that is 10 percent higher the following year.

    Simply copy the amounts from the actuals ledger and have General Ledger automatically adjust those amounts by the specified percentage.

  • Spread a given amount (for example, 15 million USD budgeted for equipment) evenly across specific ChartFields or according to a basis (such as the statistics code for employee head count).

  • Adjust budget amounts for each individual ChartField combination by period.