Budget Ledger: General Information

In MYOB Acumatica, you can create budget ledgers, which are ledgers of the Budget type, to store information on budgets, such as the currency, company, and branches of the company. A budget ledger is assigned to a budget, which is a worksheet containing a particular branch and financial year. It includes GL accounts and subaccounts and budget amounts for each pair of account and subaccount. This information is posted to the specified budget ledger when the budget is released.

Learning Objectives

In this chapter, you will learn how to create a ledger of the Budget type.

Applicable Scenarios

You create a budget ledger if you need to prepare a budget in the system. You can use the budget ledger as a base ledger for calculating allocation proportions. For details, see Allocation Rules: General Information.

Creation and Population of a Budget Ledger

You can create as many budget ledgers as you need on the Ledgers (GL201500) form. You can use a single ledger to post the annual budgets of different companies or branches. To prepare two different budgets for the same company, branch, and year (for example, an optimistic budget and a pessimistic budget), you have to create a budget ledger for each budget.

To create a budget in the budget ledger, you perform the following general instructions:

1. On the Budgets (GL302010) form, you prepare a budget selecting the budget ledger for the budget.
2. On the Release Budgets (GL505510) form, you release this budget. When you release the budget, the budget amounts are posted to the budget ledger under the account (and subaccount, if applicable) of the budget article.

   After the release of the budget, the budget amounts can be shown in reports; they can also be compared with actual figures or with other budgets on the Budgets form.