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Financial Budget Weight Factor
- Kyle Niekamp
- Claire Aleman
Overview:
Use the Financial Budget Weight Factor window to define the weight factors you use to allocate your annual general ledger budgets across the fiscal year. When you record your annual general ledger budgets through the Annual Financial Budget Allocations window, you assign a weight factor to each account, which tells PENTA how to allocate the budget across the fiscal year.
For example, if you want to allocate the budget evenly across all 12 accounting periods, you would establish a weight factor where each period was 1/12 of the annual budget. If your company uses a 4-4-5 (4 weeks-4 weeks-5 weeks) accounting schedule you would establish weight factors for period 1, 2, 4, 5, 7, 8, 10 and 11 that were 4/52 of the annual budget. For periods 3, 6, 9, and 12, you would establish weight factors that were 5/52 of the annual budget.
Benefits:
- Streamline the Budget entry process
Roles:
- Accounting Manager
- CFO
Location:
- Financial & Accounting > Data Entry > Budget/History Information > Financial Budget Weight Factor
Video:
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