Create a Balance Sheet and Cash Flow budget

1

Click the Add button at the bottom of the worksheet, enter a name for the Balance Sheet tab, select the Balance Sheet tab type, then click Add.

2

Select the Balance Sheet template.

This setting determines the layout of the Balance Sheet budget. The options available depend on the types of Balance Sheet statements your organization has created in the Financial Statements module. If your organization only uses one Balance Sheet template, it will be applied by default.

3

Set the Balance Sheet budget hierarchy levels, as required:

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

• Reorder the levels: 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.

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 change this. You can 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 in your Balance Sheet than are in your Profit and Loss budget. 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.

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

Select the opening balance stream.

This is the stream from which your Balance Sheet values come from. In most cases, this is the Balance Sheet stream.

6

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

By default, the period end date is selected for you, as it is linked to the start date of your Profit and Loss budget setup. For example, if your budget period is November 2022 to October 2023, the Balance Sheet opening balance date is the month prior to that period, October 2022.

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

(Optional) Change the measure.

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.

8

Click Next.

9

Map the Retained Earnings account codes in the selected dimension.

This setting determines the account code in the Balance Sheet budget to which the profit from the Profit and Loss budget is allocated.

Depending on your account structure, you can use the same General Ledger retained earnings account code for several entities or use different codes as required. If you have no levels, such as in the case of a consolidated Balance Sheet budget, you will only have one retained earnings account to map.

The Retained Earning Mapping screen contains a grid where you map entities on the left to the Retained Earnings account code on the right.

• If you have a lot of entities, to limit the number of entities that display in the grid, you can filter the list and/or select the Not mapped option from the All dropdown list on the top right.

• Select the checkboxes of individual entities or click the Select all button in the top left corner of the grid, then select the corresponding entity in the main database (in the window that displays). The Retained Earnings account is suggested for you and displays at the top of the list (marked with a star) but you can select a different account as required.

10

Click Next.

11

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

Depending on your account structure, you can use the same General Ledger bank account code for several entities or use different codes 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 Balance Sheet budget, you will only have one bank account to map.

The Cash Mapping screen contains a grid where you map entities on the left to the Cash account code on the right. The process is the same as that on the previous Retained Earning Mapping screen. However, this time, it is the bank and/or cash accounts that are suggested for you and displays at the top of the list (marked with a bank icon).

12

Click Create Balance Sheet.

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.