Simple Budget: Process Activity

In this activity, you will learn how to prepare simple budgets by uploading data from Excel files.

Story

Suppose that the sales manager of SweetLife Fruits & Jams has prepared an Excel file with the sales budget for the SweetLife company. The sales budget contains the amounts of each stock and non-stock item (jams, fruit, equipment, services, and other products) that the company's stores plan to sell in 2024.

Further suppose that the production manager of SweetLife has prepared an Excel file with a production budget for SweetLife, with amounts based on the sales budget. Acting as a SweetLife accountant, you have to upload these budgets to the system.

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 Ledgers (GL201500) form, the BUDGET ledger has been added.

Process Overview

In this activity, on the Budgets (GL302010) form, you will specify the basic settings of a simple budget (branch, ledger, and financial year) and add the budget articles to the table. You will then post the budgets to a budget ledger by releasing the budget articles on the Release Budgets (GL505510) form.

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 an accountant Nenad Pasic by using the pasic username and the 123 password.
  2. To define the needed budget ledger, make sure that you have performed the following prerequisite activity: Budget Ledger: Implementation Activity.
  3. Make sure that no budget tree has been configured on the Budget Configuration (GL205000) form. You cannot complete this activity if a budget tree has been configured.

Step 1: Uploading Budget Data

To upload the budgets from the respective Excel files, do the following:

  1. Open the Budgets (GL302010) form.
  2. In the Branch box of the Summary area, ensure that HEADOFFICE is selected.
  3. In the Ledger box, ensure that BUDGET is selected.
  4. In the Financial Year box, select 2024.
  5. On the table toolbar, click Load Records from File.
  6. In the File Upload dialog box, which opens, click Choose File, and select the Sales_Budget_HEADOFFICE_2024.xlsx file. Click Upload.
  7. In the Common Settings dialog box, which opens, select Insert All Records in the Mode box, and click OK.
  8. 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.

  9. On the form toolbar, click Save to save the uploaded budget.
  10. In the Ledger box, make sure that BUDGET is selected.
  11. In the Financial Year box, make sure that 2024 is selected.
  12. On the table toolbar, click Load Records from File.
  13. In the File Upload dialog box that opens, click Choose File, and select the Production_Budget_HEADOFFICE_2024.xlsx file. Click Upload.
  14. In the Common Settings dialog box that opens, leave Update Existing in the Mode box, and click OK.
  15. 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.

  16. On the form toolbar, click Save to save the uploaded budget.

Step 2: Releasing the Budgets

To release the budgets, do the following:

  1. Open the Release Budgets (GL505510) form.
  2. On the form toolbar, click Release All.

    The Processing dialog box opens. Close this dialog box when the processing is complete.

You have prepared a simple sales budget and a simple production budget for the HEADOFFICE branch for the year 2024.