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You may need to change your budget(s) for the current year as a result of a change in the status of your business. You may have experienced unexpected growth in revenues or other circumstances that necessitate an adjustment to your financial plan. Under these conditions, you can change your budget expectation for the remainder of the year by revising your budget(s) to reflect the change in your business.
The software provides different windows, Budget Maintenance, Budget Revision Entry, and Automatic Budget Copy, to revise a budget or to set up a budget based on another budget. Each window has particular features listed below.
Use the Budget Maintenance window to view and compare multiple budgets from various fiscal years, side-by-side with current and past activity, while revising one or more of the budgets for a single account. Revisions performed in the Budget Maintenance window update the budget immediately on clicking Accept. For more information, see Revise Multiple Budgets.
Use the Budget Revision Entry window to revise all or a range of accounts in a single budget. The Budget Revision Entry window is designed to allow entry and editing of budget revisions for a single budget without updating the budget immediately. You must update the Budget Revision Register to update changes to the budget. For more information, see Revise a Single Budget.
Use the Automatic Budget Copy window to revise all or several accounts in a single budget or to set up a budget by copying and applying revision calculations to another budget. This window has the same functionality as the Select Accounts to Revise window (accessed from Budget Revision Entry). Revisions created in the Automatic Budget Copy window immediately update the budget. For more information, see Copy a Budget.
Use the General Ledger Automatic Budget Copy window to copy and apply revision calculations to another budget, or revise a budget by increasing an existing budget by a percentage or an amount. For more information, see Copy a Budget.
