Issue/Symptom/Question

How can I compare the GL Budget to the Actuals?

Environment

PENTA for Windows > Finance and Accounting > Data Entry > Budget/History Information

• Budget Types

• Budget/History Entry

PENTA for Windows > Finance and Accounting > Setup > Financial Statement Formats

Resolution/Fix/Answer

1. Set up the Budget Types that will be tracked and compared against financials

   1. Most companies use one budget for the year so the default REG (Regular Budget) can be used

   2. Some companies revise the budget throughout the year and load a Revision 1, 2, etc. or Q1, Q2, etc.

2. Load the budget in Budget/History Entry using the Budget Type desired

   1. Enter B for Budget, Budget Type, OU Id, and Fiscal Year

   2. Enter the Account #

      1. Enter either the annual amount (PENTA divides this evenly by # of accounting periods), or

      2. Enter the period and amount for each period

         

      3. If there are questions on how to enter the amounts, see General Ledger Account, Budget or History Amounts Entry - Positive or Negative

   3. repeat step b. for each Account # with a Budget
      
      

      Open

      

3. Once the Budget Types to use are setup, add the Budget Type to the Financial Statement Format that compares Budget & Actual (Statement Format #18)

   1. This links a loaded budget to the actual balances
      
      

      Open

      

4. Run Financial Statement Format Reports from Step 3 to compare the Budget & Actual