Budgeting Provided by: The McGovern Consulting Group, LLCYour Local Sage 100 Fund Accounting Business Partner 888-876-1544 | www.mcgoverncg.com
About Today’s Course• During this one-hour session we will cover the three ways to get budget entered into Sage 100 Fund Accounting (Formally MIP): – Budget Worksheet – Importing From Excel – Direct Transaction Entry• We will review various availably reports, budget versions along with tracking non-financial dollars budgeting (units tracking of budgets). We will also look at the budget worksheet report, and account groupings.
Learning Objectives • Understand The Importance Of Budgeting • Streamlining the Process• Understand All of the Various Option Available • Meet Financial Goals
Challenges • Only Once a Year (Usually)• Changes Year to Year (How your organization budgets) • Multiple Levels of Budget Reporting • Grant Budgets = Organization Budget?
Why Is Budgeting Important ?1. Get a grip on your spending2. Curb impulse purchases3. Find ways to cut costs4. Build an Emergency Cash Fund5. Set and prioritize ﬁnancial goals6. Start a Savings Program7. Cash Flow Management8. Distinguish between wants and needs
Modules of Sage 100 Fund Accounting1. General Ledger – Provides – Transaction Budget Entry 1. Limitations – only two versions 2. Transaction screen entry only 3. Ability to Import into Budget Transactions 4. Limited Budget Reporting2. Budget Worksheet 1. Additional Budget Reporting 2. Unlimited number of Budget Versions 3. Excel looking entry screen 4. Streamline efficiency of copy budget from version to version Using the Wizard
Options for Entry1. Straight Transaction Entry2. Straight Entry & Use of Memorize/Recall Documents3. Import from Excel into Budget Transaction4. Budget Worksheet
Units?1. You can budget Units through Sage 100 Fund Accounting2. This is established as a User Deﬁned Field in Administration3. Examples: 1. Units of Service 2. Days in Month 3. Attendance 4. FTE
Straight Entry• No Different then any other Transaction Entry in Sage• Effective Dates deﬁne Year to Date Budget/Total Budget
Use of Memorized Documents1. Enter the First Month (1/12)2. Memorize the document3. Recall it for the next 11 months and update the effective date
Budget Worksheet• Use of the Wizard to Build Worksheets• Entry Efficiencies
Budget Worksheet Step By Step GuideTips:Titles are driven from Short Titles in the Account Setup Under Maintain Chart of AccountsRight Click on Numbers to Use Modify Selected Items
Importing From ExcelImporting Into Sage 100 Fund AccountingAlmost Everyone Owns the Import/Export ModuleTwo Click Import Process
Still Not Sure Where to Start?MCG Budget CalculatorDo You:• Struggle getting your budget into Sage Fund Accounting?• Prepare your budget in Excel before re-entering it manually into Sage MIP Fund Accounting?• Spread the budget by 12 months equally for most accounts?The McGovern Consulting Group developed an Excel based workbook tool to help streamline the preparation and entry process into Sage Fund Accounting! Just answer a few questions, enter the annual amounts and your budget is ready for import into Sage Fund Accounting.The Budget Calculator Allows Users To:• Use your own financial statement format or grouping of accounts• Unlimited number of subtotals by Rows and by Columns• Data validation and error report generation prior to importing budget transactions• If your budget has already been prepared in Excel, simply copy and paste it into the budget tool• Eight user definable fields to be used during the import process (these could include segments of the chart of account, user defined fields, descriptions, or other miscellaneous items, such as Program Manager names• Works with any Budget Version tracked in Sage MIP Fund Accounting• Auto generates the Session ID prior to import• Unlimited number of account code combinations• Flexible date ranges allow for grant cycles and budget entries overlapping fiscal years ng fiscal years ty
Take Away• PowerPoint• Better Understand of Options• Should you need assistance in any aspect of budgeting, please let us know.
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