Before performing year-end processing, you can create a new default budget for the next fiscal year. The actual figures of the closing fiscal year are copied to the new default budget during year-end processing.
To copy actual figures to the next fiscal year budget
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Select General Ledger Setup menu > General Ledger Options. Click the Budget tab.
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In the Budget Code field, enter a new budget code for the next fiscal year. For more information, see General Ledger Options - Fields.
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Enter the description for the new budget code.
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Select the Default check box for the new budget code.
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Select the Copy Actual to Default Budget at Year End check box and click Accept.
When year-end processing occurs, the current fiscal year’s actual figures are copied to the new default budget code entered.
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