Budgets are a planned estimate of costs or revenues over a specified period which are used to compare against actual results. Budgets are stored in the Financial Cube object and can be used in native Salesforce reports as well as the Accounting Seed Financial Reporter.
Ledgers in Accounting Seed are used to denote actual results from budgeted results. All organizations are required to have a transactional ledger. Only one transactional ledger can exist in a single Salesforce instance. Users can set up as many Budget ledgers as they desire. Budget records are stored as Financial Cubes and associated with a Budget ledger. Financial Cubes are also used to store your actual transactional data, these Financial Cubes are associated with your Transactional Ledger and are not editable in any way other than by altering the source transactions.
- Navigate to the Ledgers tab and click the New button.
- Enter the name of the Ledger e.g., 2018 Budget.
- Select Budget from the Type field.
- Click Save.
We suggest the following when managing your Budget Financial Cubes:
- Build list views on the Financial Cubes tab to view only Budget Financial Cubes and by Accounting Period or GL Account if further breakdown is required.
- Use a .csv file to upload your initial budget (template is below).
- Use the UI to adjust particular records if the need arises.
- Both a Debit and Credit balance are uploaded as a positive value.
- The Cube Type will always be Period.
- The Opening Balance filed represents the prior month closing balance.
- The Amount filed represents your Budgeted amount for that particular Financial Cube.
- The Year to date field is a calculation of Opening Balance + Amount.
- The variables that define any given cube are as follows:
- Accounting Period
- GL Account
- GL Accounting Variable 1
- GL Accounting Variable 2
- GL Accounting Variable 3
- GL Accounting Variable 4