Budget Components

Budgets > Actuals/Budget Entry > Account > Click Month Cell > Components

Budget components are used to break down a monthly budget amount into details. Each G/L account has a component detail screen format assigned with appropriate columns for budget entry for that type of account.

If components already exist for an account, monthly entry will no longer be allowed. The Components button at the top of the screen will be highlighted, indicating components exist; therefore, entry can only be done at the component level. 

• If component entry is being forced due to a blank components screen being saved, you may go into the blank components screen and click the Clear All icon to delete the blank components, then Save. Entry will then be allowed at the monthly level.

Budget component details can be set up as annual or monthly. 

Annual Component Entry

If the budget format uses annual budget entry as opposed to monthly, you will see an Annual Amount tab, as well as a Distribution tab. The Annual Amount tab is where you enter the annual budget amount and description. You may add as many rows as you like, as long as the format setup allows such. The distribution of this row is set in the far right column. The Distribution tab allows you to see how the annual amount has been distributed month by month. The distribution can be changed with icons at the top of the Distribution tab.  

• Custom Distribution: Custom distribution can be defined in the budget format. This is typically by pay period.
• Equal Distribution: Distributes the annual budget to each month equally.
• Percent Distribution: Distribute the annual budget to each month based on the percentages you specify.
• Column Distribution: This option distributes the annual budget according to how the selected column was spread over months. Typically, this is the current year's actual/forecast.

Selecting Benefits

If an annual budget format has columns for applying retirement, medical plans, etc., you can select the option, and the benefit calculation will apply to the entire year. If you need to apply the benefit for part of the year, click on the appropriate box (retirement, medical, etc.) and then click the Monthly button. Check the months to apply this allocation. This also allows you to change the selection mid-year for various medical plans.

Monthly Component Entry

If the budget format is set to use monthly entry, each month of your fiscal year will be listed vertically. You will enter the monthly budget amount and descriptions. You may add as many rows as you like, as long as the format setup allows such.  

Various icons are available for the following. Use your mouse to hover over each icon for the description.

Add a row: Click the New Row icon to add a single row for the month selected.

Add a row for all months: Click the New Row for All Months icon to add a new row for all months.

Delete Row: This will delete the row you have highlighted.

Delete Row for all months: This will delete the row you have highlighted for all months.

Cut/Copy/Paste: This icon allows you to cut (Ctrl+X), copy (Ctrl+C), and paste (Ctrl+V) from one cell to another. The system allows Microsoft’s shortcut keys.

Copy to other months: This allows you to do budget entry in one month and copy that row (or all rows for the month) into other months, thus saving a lot of entry time. When copying to other months, you may select which columns to copy, as well as the months to copy to. Entry information can then be changed on any month as needed. When copying to other months, the system is not looking at the text but will copy the selected row to that same row in each of the months to copy to. The system will warn if data already exists in the row you are copying to.

Adjust Column: Budget components can be copied or adjusted using a formula to other months using the copy button at the top of the screen. For example, you might want to increase an amount by 5 percent. Click on the amount column and select the Adjust Column icon. Select to adjust by %+ 5. Click OK, and the system will recalculate the amounts in this column with a 5 percent increase.  

Save: Temporarily records all budget changes for the account until the Save button on the actuals/budgets screen is clicked.

Comments: Comments or remarks entered in the comments box on the components screen pertain to and are held for the specific budget year. They also appear at the bottom of the actuals/budgets screen. The comments can be changed for multiple accounts in global budget changes.

• The Comments: box label or post-it note icon at the top of the screen may be clicked to open a larger edit screen for data entry.

Copying Components from the Prior Year

If components exist for the prior year but don’t yet exist in the current year, then you will be prompted if you want to copy the components from last year as a starting point. Changes can then be made as needed. The budget format determines if this feature is turned on. The budget format also controls which fields are copied (or not).

Troubleshooting

A computed column is not calculating correctly:

• Review the budget format to be sure the length, number of decimals, and format are correct for every number column involved.
• Review the budget format to be sure any/all formulas are set up correctly. Keep in mind the order of operations does not follow math rules; it is simply from left to right.
• The final budget amount will be rounded to whatever the global setting is in Settings > Budgeting > Budget Options. It is recommended that this be set to round the calculation to the nearest 0.01 for accuracy. The format can control the number of decimal positions displayed on the budget entry screen.

Change the merit increase after components have been entered: see Budget Formats

Forecasting with a monthly amount (not using components)

If components exist for budget but you do not want to use components for forecasting, you should not have a budget format specifically for the current year forecast. You can clear components in the forecast by using Global Budget Changes > (Action) Clear Components (all accounts) for the current year forecast. See the Budget Types section under Budget Formats for more information.