Versions Compared

Old Version 18

changes.mady.by.user Denise McGettigan

Saved on

compared with

New Version Current

changes.mady.by.user Denise McGettigan

Saved on

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

You can add Add a tab in your financial budget workbook to create Profit and Loss budget for your Balance Sheet budget tab and automatically derive your Cash Flow budget for 3-statement budgeting.

Image Removed
Panel
bgColor#E3FCEF

Videos

Related pages (next steps)

Step

Notes

1

Click the blue plus button (blue star) next to the Main tab, enter a name for the Balance Sheet tab, select the Balance Sheet tab type, then click Add.

2

Html macroSelect the Balance Sheet <img style="display: inline" src="https://api.media.atlassian.com/file/896b480d-6fa9-48fb-9863-f64c3e115160/image?collection=emoji-site-00847474-03e0-4098-9300-78c7fccb23e9&width=31&height=32&max-age=31536000&token=eyJraWQiOiJtaWNyb3NcL3BmLWVtb2ppLXNlcnZpY2VcL3A4dmIxcHY5dXNicnJuaGQiLCJhbGciOiJSUzI1NiJ9.eyJzdWIiOiJtaWNyb3NcL3BmLWVtb2ppLXNlcnZpY2UiLCJhdWQiOiJtZWRpYSIsImFjY2VzcyI6eyJ1cm46ZmlsZXN0b3JlOmNvbGxlY3Rpb246ZW1vamktc2l0ZS0wMDg0NzQ3NC0wM2UwLTQwOTgtOTMwMC03OGM3ZmNjYjIzZTkiOlsicmVhZCJdfSwiY2xpZW50SWQiOiJjZGEzNzUyYy1hNWE4LTRlZjMtYTAxNy03ZjliZmYwN2Q2NzciLCJuYmYiOjE2NzY5MjQwNDcsImlzcyI6Im1pY3Jvc1wvcGYtZW1vamktc2VydmljZSIsImV4cCI6MTY3NjkyNzU4NywiaWF0IjoxNjc2OTI0MDQ3LCJqdGkiOiJkOGI5NjQ0NS00NTkzLTRiMDItOThlYi0wNjk3MjZjMzYyYjEifQ.jDCE_A6UEyhjbU7uoDWb3dZjsJjHGhzZMMwVSW-S-7qgL3bpWABGjzZc6BUv6_i3kny1wWEok2W4yzqU3BHyfYSe7z2lKbZghlStU8mv3isLIVKPD_m46jcGuxloiNIYVXA79JROfbjy4kTupeVKWyCN2vIodkkF7mXFenneaEk2kWUrzp0U6_sSinESh4X5easBwgad8v1CK_KSdqFyrcwoKnKYJdWHlpH99sgZ4u6m5cbKzxoRnTueQR2VL4963t5PlRmAClkZOdwbfWiremGsXwxNWIfcXX-76Kxr5vPdl89rZhkCntb5Y8xC974xRLl9yimXs4ySReu2GRjN-A&client=cda3752c-a5a8-4ef3-a017-7f9bff07d677" > template.

  1. Create or open the financial budget workbook, then add the tab using one of these methods:

    • Click the Tab menu > Add tab > Balance Sheet.

    • Click the Add button at the bottom of the workbook and select Balance Sheet.          

  2. Set up the Balance Sheet and Cash Flow as follows:

Expand
titleConfiguration

  1. Select the Balance Sheet statement. 

    • This setting determines the layout of the

Balance Sheet budget. The options available depend on the types of Balance Sheet statements

    • budget.

    • A default statement is selected for you but you might have others to choose from if your organization has created them in the Financial Statements module.

If your organization only uses one Balance Sheet template, it will be applied by default.

3

  1. Set the Balance Sheet budget hierarchy levels

, as required:

  • Add levels: Click the blue plus button (blue star), then select the dimension you want to add at that level.

    • Reorder the levels: Click and hold the level's Move (blue star) button (a blue box displays around the row), then drag the level up or down to its new position

    1. .

    This setting determines how the dimensions are grouped in your Balance Sheet budget.

      • By default, the first level is the top-level group (category) for the Balance Sheet statement, and you

    cannot

      • can't change

    this

      • it.

      • You can't add

    other dimensions as lower levels. The dimensions that are available in the list depend on how you set up the Profit and Loss budget.You can have less

      • levels here if there are no other levels in the P&L budget setup.

      • Where levels are available, you can have fewer levels in your Balance Sheet than are in your

    Profit and Loss budget

      • P&L. For example, you might want to do your Balance Sheet and Cash Flow budgets at the company level but include your company and branch in your

    Profit and Loss.

    4

    (Optional) Select the Cash Flow template.

    Html macro
    
blah blah <img style="display: inline" src="https://helpphocassoftware.atlassian.net/wiki/spaces/userdoc/pages/2894594120/Create+a+Balance+Sheet+and+Cash+Flow+budget" >

    This setting creates a Cash Flow budget on a separate tab in the workbook. The values in the Cash Flow budget are automatically derived from the values in the Profit and Loss and Balance Sheet budgets. The budget hierarchy levels are inherited from the Balance Sheet budget but if available, you can add custom levels which will help you to group your Cash Flow statement.

    5

      • P&L.

      • To add a level, click Add level, then select the dimension you want to add at that level. The dimensions that are available in the list correspond to the levels in the P&L budget setup.

      • If you add multiple levels, you can reorder those levels to determine how the dimensions are grouped in your Balance Sheet budget. Click and hold the level's Move button (a blue box displays around the row), then drag the level up or down to its new position. 

    2. Select the opening balance stream.

    1. This is the stream from which your Balance Sheet values come

    from

    1. . In most cases, this is the Balance Sheet stream but you might have other options to choose from.

    6

    1. (Optional) Change the opening balance start date (previous period end date).

      • By default,

    the period end

      • this date is selected for you, as it is linked to the start date of your

    Profit and Loss

      • P&L budget setup. For example, if your budget period is

    November 2022 to October 2023

      • April 2023 to March 2024, the Balance Sheet opening balance date is the month

    prior to

      • before that period,

    October 2022

      • March 2023.

      • This date must be on or before your Balance Sheet budget period start date, as it informs the initial opening balance for your Balance Sheet budget and enables changes (movements) to be entered to create a sensible budget opening position. When the Balance Sheet budget starts in a future month, the opening balance helps you to form the bridge between the last closed period and the beginning of the budget period.

      • You can change this date in the future. For example, when you're in the budget period, you can actualize your Balance Sheet by bringing in the actual opening position for that budget period.

    7

    2. (Optional) Change the measure.

    1. By default, the measure is selected for you, as it is linked to the stream you selected in step 5. The measure is typically the same as the measure used

    in the main Profit and Loss budget.8Map the Retained Earnings account codes in the selected dimension

    1. in the P&L budget.

    2. Set the measure format (prefix, decimal, and suffix) to determine how the measures (numerical values) display in the grid.

    3. (Optional) Select the Include tab checkbox to include a Cash Flow tab in this tab creation process, then select the Cash Flow statement and set the levels.

      • The Cash Flow budget will display on a separate tab in the workbook.

      • The values in the Cash Flow budget are automatically derived from the values in the P&L and Balance Sheet budgets. The budget hierarchy levels are inherited from the Balance Sheet budget but if available, you can add custom levels that will help you to group your Cash Flow statement.

        image-20241024-004442.pngImage Added

    4. (Optional) Select the Include mini drivers… checkbox to add drivers to the Balance Sheet. For more information about this feature, see Use mini drivers in the Balance Sheet budget.

    5. Click Next.

    9

    Expand
    titleDrivers

    This step is applicable if you selected the Include mini drivers… checkbox in the previous step. Otherwise, you can ignore it and proceed to the Retained Earnings mapping step.

    You can add four types of drivers. This part of the setup can be complex, so see Use mini drivers in the Balance Sheet budget for detailed information.

    image-20240409-212208.pngImage Added

    After you add the drivers, click Next.    

    Expand
    titleRetained Earnings mapping

    1. Map the entities in the selected dimension to the Retained Earnings account(s).

      • This setting determines the General Ledger Retained Earnings account code(s) in the Balance Sheet budget to which the profit from the

    Profit and Loss

      • P&L budget is allocated. Retained Earnings represent the equity of the business (what the business is worth).

      • If you have no levels in the budget, such as in the case of a consolidated Balance Sheet budget, you will only have one Retained Earnings account to map. Otherwise, you might have multiple accounts to map. Depending on your account structure, you can use the same

    General Ledger retained earnings account code

      • Retained Earnings account for several entities or use different

    codes

      • accounts as required.

      • If you have

    no levels, such as in the case of a consolidate Balance Sheet budget, you will only have one retained earnings account to map.

    10

    Click Next.

    11

    Map the cash accounts to the entities in the selected dimension.

      • a lot of entities, you can filter the list of entities and/or select the Not mapped option from the All dropdown list on the top right to help you complete the mapping.

        Image Added

      • To map one entity, click the yellow box on the right and select the account from the list that displays.

      • To map multiple entities to one account, select the checkboxes of those entities or click the Select all button in the top left corner of the grid, then select the account from the list that displays.

        Image Added

    2. Click Next.                     

    Expand
    titleCash account mapping

    1. Map the entities in the selected dimension to the Cash account(s).

      • This setting determines the General Ledger account code(s) in the Balance Sheet budget that captures all the changes to cash.

      • Depending on your account structure, you can use the same General Ledger

    bank

      • Bank account code for several entities or use different

    codes

      • accounts as required. Typically, you use a separate bank account for each entity. If you have no levels, such as in the case of a

    consolidate

      • consolidated Balance Sheet budget, you will only have one bank account to map

    .

    12

    Click Create Balance Sheet.

      • .

      • Map entities on the left to the Cash account code on the right as you mapped to the Retained Earnings accounts. The bank and/or cash accounts display at the top of the list (marked with a bank icon).

        Image Added

    2. Click Save and finish. 

    1. Proceed to explore your new

    budget worksheet(s). A new tab is added to your budget workbook for the Balance Sheet budget. If you opted to add a Cash Flow budget, an additional tab is added for that budget.

    1. Balance Sheet and Cash Flow budgets, which are displayed in separate worksheet tabs.

    Expand
    titleWatch video

    Please note that some elements in the video look different from how they currently look, due to design changes. However, the process is the same.

    Create a Balance Sheet budget.mp4

    Related pages