Budget Ledger: Implementation Activity

In this activity, you will learn how to create a budget ledger for a company in MYOB Acumatica.

Story

Suppose that as an accountant, you need to create a budget ledger that will hold the optimistic budgets for the SweetLife Fruits & Jams and Muffins & Cakes companies.

Configuration Overview

In the U100 dataset, the following tasks have been performed for the purposes of this activity:

  • On the Companies (CS101500) form, the SWEETLIFE and MUFFINS companies have been created.
  • On the Branches (CS102000) form, the branches of the SWEETLIFE company have been defined: HEADOFFICE, SWEETEQUIP, and RETAIL. The branches of the MUFFINS company have also been defined: MHEAD and MRETAIL.

Process Overview

In this activity, on the Ledgers (GL201500) form, you will create a budget ledger for an optimistic budget. You will define the ledger to hold the budgets of the SweetLife Fruits & Jams and Muffins & Cakes companies.

System Preparation

Launch the MYOB Acumatica website with the U100 dataset preloaded, and sign in as an accountant Nenad Pasic by using the pasic username and the 123 password.

Step: Creating a Budget Ledger

To create a budget ledger to be used by both companies, do the following:

  1. On the Ledgers (GL201500) form, add a new record.
  2. In the Ledger ID box of the Summary area, type BUDGETOPT.
  3. In the Description box, type Ledger for optimistic budgets.
  4. In the Type box, select Budget.
  5. On the table toolbar of the Companies tab, click Add Row, and select SWEETLIFE in the Company column of the added row.
  6. Click Add Row again, and select MUFFINS in the Company column of the added row.
  7. On the form toolbar, click Save.

    On the Branches tab, notice that all the branches of the SweetLife Fruits & Jams and Muffins & Cakes companies have been added. The SweetLife Fruits & Jams company is made up of the HEADOFFICE, SWEETEQUIP, and RETAIL branches. The Muffins & Cakes company has the MHEAD and MRETAIL branches.

You have created a budget ledger that can now be used to store optimistic budgets for both companies.