One of the most important accounting tools for a business is the budget, which is generally created on an annual basis to outline the expected needs of each department or business area.
A major benefit of budgets is the ability to control spending on certain operations by restricting the funds available for spending, which can require managers and buyers to find new vendors or suppliers to meet budget limits.
Budgets also allow companies to plan for future growth and expansion, and allow the creation of a financial roadmap.
Dynamics GP provides a flexible and easy-to-use budget creation and maintenance utility, which allows for comparison to the previous year's actual and budget figures during the budget creation process.
Budgets can be created in Dynamics GP directly, but the most efficient way of creating a budget for use in Microsoft Dynamics GP is to create it using Microsoft Excel.
There are four steps to create a budget in Dynamics GP. They are as follows:
It is strongly recommended that the budget be created in Dynamics GP and exported to Microsoft Excel for editing, as the import process requires the structure of the file to be exactly the same as the one being exported. The attempts to create the budget template manually can be very problematic.
To create a budget in Microsoft Excel, follow the given steps:
2017 MASTER
in the Enter an ID for this budget field.Master Budget for 2017
in Enter a description for this budget.Fiscal Year
and change Select the date range for this budget to 2017
.BUDGET 2008
.2.50%
and click on Next.2017 MASTER.xlsx
file to your Documents folder.Now that the 2017 MASTER budget has been created in Microsoft Excel by copying the MASTER 2008 budget, and adding 2.5 percent, the budget can be edited in Excel before being imported into Dynamics GP.
It is very important that the column structure and the header rows of the spreadsheet are not altered; if they are, the budget will not import back into Dynamics GP.
To edit the budget, perform the following steps:
As many changes as required can be made to the Excel spreadsheet, and additional account codes can be inserted if required. The changes are only within the Excel spreadsheet; to apply the changes, the spreadsheet needs to be imported into Dynamics GP.
Now that the 2017 MASTER budget has been edited in Microsoft Excel, we now need to import it back to Dynamics GP.
To import the budget into Dynamics GP, perform the following steps:
2017 MASTER
.2017 MASTER.xlsx
from your Documents folder.3.14.131.47