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GL Budget Revisions, Assignments and Approval Process with Annotation

Companies that use GL Budgets often need to have input and revisions from multiple departments as well as multiple levels of approvals.  The may also have updates/revisions to their budgets monthly. It would be ideal for Acumatica to extend the Assignment and Approval maps to GL Budgets. It would also be helpful to have the capability for multiple budget revisions without separate ledgers and the ability to add notes to each revision at the header level. 

Here is an example scenario:

  1. Finance develops base budget for costs based upon prior year costs.
  2. Finance calculates base budget monthly totals, by account, as well as a total target figure
  3. System stores base version of budget
  4. Finance sends base budget to department / budget coordinators on a per month, per account, basis
  5. Budget coordinators adjust data used to build base budget based upon their knowledge of activity details. This is often statistical data (example: Number of Trips, Number of Products, Number of Subscriptions, etc.).
  6. Budget coordinators adjust estimates overall, and by month, based upon their detailed knowledge of the department.
  7. System stores budget coordinator version of budget and routes to Finance for review and approval
  8. Approved - Finance completes the high level approval process including the board. They may require additional rounds of post Finance review adjustments
  9. Finance finalizes budgets after adoption by Board of Directors
  10. System uses approved budget as the locked budget for the budget year
    • Not Approved - System routes budget to Budget Coordinator for update
    • Budget coordinator updates budget per instructions from Finance
    • System routes updated budget back to Finance for review
  11. The use scenario resumes at step 9
  • Joel Gress
  • Aug 12 2019
  • Gathering Feedback
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