Modification of a Hierarchical Budget: Process Activity

The following activity will walk you through the process of modifying a hierarchical budget by adding a leaf article to a budget node and uploading a budget based on the updated budget tree.

Story

Suppose that the management of SweetLife Fruits & Jams needs to have a budget article that aggregates all travel expenses of the company. The hierarchical budget should include the Travel Expenses leaf that would aggregate budgeted amounts for accounts from 70000 (Travel - Tickets) to 70020 (Travel - Meals). Further suppose that the budget for 2025 should be based on the configured budget tree and uploaded to the system.

Acting as a system administrator, you need to add a leaf budget article to the Production node of the budget, add the budget amounts for travel expenses in 2024, and upload the budget for 2025 that already includes travel expenses.

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 company has been defined.
  • On the Branches (CS102000) form, the HEADOFFICE branch of the SWEETLIFE company has been created.
  • On the Chart of Accounts (GL202500) form, accounts with numbers from 70000 (Travel - Tickets) to 70020 (Travel - Meals) have been created.
  • On the Ledgers (GL201500) form, the BUDGET ledger of the Budget type has been defined.
  • On the Segmented Keys (CS202000) form, the SUBACCOUNT segmented key has been defined.

Process Overview

In this activity, you will add the Travel Expenses leaf to the Production node of the hierarchical budget on the Budget Configuration (GL205000) form. On the Budgets (GL302010) form, you will convert the 2024 budget based on the updated budget tree and update the Travel Expenses article. You will then release the modified budget article on the Release Budgets (GL505510) form. Finally, on the Budgets form, you will upload a budget for 2025 from an Excel file.

System Preparation

Before you begin performing the steps of this activity, do the following:

  1. Launch the MYOB Acumatica website with the U100 dataset preloaded, and sign in as a system administrator Kimberly Gibbs by using the gibbs username and the 123 password.
  2. On the Company and Branch Selection menu on the top pane of the MYOB Acumatica screen, make sure that the SweetLife Head Office and Wholesale Center branch is selected. If it is not selected, click the Company and Branch Selection menu button to view the list of branches that you have access to, and then click SweetLife Head Office and Wholesale Center.
  3. Make sure that you have performed the following prerequisite activity to create a hierarchical budget: Conversion of a Simple Budget to a Hierarchical Budget: Process Activity.
  4. Make sure that you have completed the following prerequisite activity to perform the needed configuration of subaccounts: Subaccounts: Implementation Activity.

Step 1: Adding the Travel Expenses Leaf

To add the Travel Expenses leaf to the Production node of the SweetLife budget, do the following:

  1. Open the Budget Configuration (GL205000) form.
  2. In the Budget Tree pane, click the Production node.
  3. On the table toolbar of the Subarticles pane, click Add Row, and specify the following settings in the added row:
    • Node: Cleared
    • Account: 70000 - Travel-Tickets
    • Subaccount: 000-000
    • Description: Travel Expenses
    • Account Mask: 700??
    • Subaccount Mask: 000-000
  4. On the form toolbar, click Save to save your changes.
  5. On the toolbar of the Subarticles pane, click Configure Security to review the new leaf added to the ProductionBudget access group.

    The system navigates to the Restriction Groups by Budget Article (GL105020) form with the Travel Expenses budget article selected. Notice that the Included check box is selected for the row with the ProductionBudget group in the table. This means that the Travel Expenses article has been added to this restriction group.

Step 2: Converting the Budget by Using the Updated Budget Tree

To convert the budget by using the updated budget tree, do the following:

  1. Open the Budgets (GL302010) form.
  2. In the Summary area, specify the financial year, and ensure that the following settings are specified:
    • Branch: HEADOFFICE (SweetLife Head Office and Wholesale Center)
    • Ledger: BUDGET
    • Financial Year: 2024
    • Tree View: Selected
  3. On the form toolbar, click Manage Budget.
  4. In the Manage Budget dialog box, which opens, select Convert Budget Using Current Budget Configuration in the Select Action box. Click OK, and in the warning message that is displayed, click OK.
  5. On the form toolbar, click Save to save the changes.

Step 3: Updating the Travel Expenses Article

To update the Travel Expenses article, do the following:

  1. While you are still on the Budgets (GL302010) form, click the Production node.

    One budget article has been added to the node automatically by the system during the conversion.

  2. In the row for the 70000 account, enter 3600 in the Amount column.
  3. On the table toolbar, click Distribute.
  4. In the Distribute Year Amount by Periods dialog box, which opens, make sure that the following settings are specified:
    • Distribution Method: Evenly
    • Apply to All Articles in This Node: Cleared
  5. Click OK. The amount that you have specified has been distributed evenly through the periods of the financial year.
  6. On the form toolbar, click Save to save your changes.

Step 4: Releasing the Updated Budget

To release the updated budget, do the following:

  1. Open the Release Budgets (GL505510) form.
  2. On the form toolbar, select the updated budget and click Release.

Step 5: Uploading and Releasing a Budget for 2025

To upload and then release a budget for 2025 that should be based on the updated budget tree, do the following:

  1. Open the Budgets (GL302010) form.
  2. In the Summary area, specify the 2025 financial year in the Financial Year box, and ensure that the following settings have been inserted by default:
    • Branch: HEADOFFICE
    • Ledger: BUDGET
    • Tree View: Selected
  3. In the Preload from Budget Configuration dialog box, which the system opens, click Yes.
  4. On the table toolbar, click Load Records from File.
  5. In the File Upload dialog box, which opens, click Choose File, and select the Budget_SWEETLIFE_2025.xlsx file. Click Upload.
  6. In the Common Settings dialog box, which opens, select Update Existing in the Mode box, and click OK.
  7. In the wizard that opens, leave all the default settings and map the columns the system has filled in, and click OK.

    The system uploads the budget articles from the Excel file.

  8. On the form toolbar, click Save to save the budget configuration.
  9. Open the Release Budgets (GL505510) form.
  10. On the form toolbar, click Release All to release all the listed budget articles.