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ALTUS ALLIANCE 2016Budget Verification Best Practices
Your Presenter
Glen Watson CPA, CA, CMA• ERP Solution Architect • Joined Altus 2005• [email protected]
Objectives• Gain a deeper understanding of the concept of Budget
Verification
• Learn how budget information can be provided to WebApps users to improve their decision-making (and/or internal control)
• Provide some tips and tricks to the setup and use of Budget Verification
Agenda• WebApps Budget Verification Process• Maintaining Budgets within NAV• Budget Verification Setup• Budget Approvals Setup• Financial Analysis• Summary of Viewing Budgets• Rolling out Budget Verification
WebApps Budget Verification
Maintaining Budgets within NAVG/L Budgets• Different Names
• Versions (draft vs final)• By period (annual budget, quarterly forecast)• Purpose (financial reporting vs budget verification)
• Updating Entries• Export to / Import from Excel (recommended)• Configuration package to table 96• Copy within NAV (from old budget or Actual to new budget)• Budget adjustment journal (import also available from Excel)• Manual entry directly into budget
Budget Verification Setup• Done in NAV, supporting WebApps process• Dimension Setup• Dimension Value Setup• Budget Categories• Purchase Requisition G/L Budgets• WebApps Setup
• Result in WebApps Requests• Budget amounts are identified on the line level• Lines grouped (by unique Budget Category and dimensions) to
show budget available (summary and details)
Budget Verification Setup• Dimension Setup (first 6 dimensions, consistent with Budget
setup)
Budget Verification Setup• Dimension Value Setup (specific values excluded, or used to
override)
Budget Verification Setup• Budget Categories (grouping of G/L Accounts for verification
purposes)
Note: Budget Category must be on G/L Account prior to budget import in order to populate Budget Entries
Budget Verification Setup• Purchase Requisition G/L Budgets (define Budget Name and
period calculation for Start / Effective Date)
Budget Verification Setup
Result in WebApps Requests – Insufficient Budget
Budget Verification Setup
Result in WebApps Requests – Sufficient Budget
Budget Approval Setup• Additional level of Approvals, triggered if the dimension
value is over-budget by any amount• Can be used selectively e.g. for only certain high-risk
dimension values• Can either send for more senior approval, or send for Finance
follow-up
Financial Analysis• Setup – Data Sets created and assigned to EWA Users
Financial Analysis• Viewing in WebApps
Summary of Viewing BudgetsSolution Area Budget Name
DefinedFixed, or Defaulted and Editable
Grouped by Budget Categories
Budget Entries Viewable
Within NAV
Budgets Budget List Defaulted/Editable Possible (via filter) Yes
Chart of Accounts General Ledger Setup Defaulted/Editable Possible (add column)
Yes
Within WebApps
Request Lines Purchase Request G/L Budgets
Fixed Yes No
Request Headers (Budget Tab)
Purchase Request G/L Budgets
Fixed Yes Yes
Request Headers (Approvals Tab)
Dimension Value Threshold Approvals
Fixed Yes No
Financial Analysis Data Set Fixed No Yes
Rolling Out Budget Verification• Ensure current Budgets (e.g. versions and dimensions
included) are understood by requesters and approvers• First provide information on WebApps using Budget
Verification• Determine appropriate Budget Categories
• ‘Generous’ = use only a few e.g. Salaries, General, Corproate• ‘Recommended’ = start with groupings used for sub-totalling in COA• Adjust where required, or as organization matures in understanding /
budgeting• Complete Setup (Dimensions, update G/L Accounts and Budget
Entries)• Train WebApps Users to view / understand information
• Determine where Budget Threshold Approvers are required
Questions & Answers
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