Create budgets and edit budgeting figures

budgeting_0

1.Go to menu "Procurement > Budgeting".

2. Select a vessel in the data tree.

• Select an existing budget year from the drop-down list "Budget Year" or

• create a new fresh budget year by clicking "Create".

For every new budget year an own currency can be chosen for the individual vessel.

• Create a new budget year based on the previous budget year by clicking "Copy Previous".

• Set up an account for monthly budgeting by checking "Monthly".

• Edit monthly or yearly budget figures within table.

• You may export budgeting data by clicking "Export". The data is saved as a .csv (comma separated values), which may be opened in Excel or any text editor. Make sure to add the ending ".csv" when choosing a file name, e.g. "myBudgetingData.csv".

Explanations of columns

Budget

Budget ytd

Remaining

Remaining [%]

Remaining ytd

Remaining ytd [%]

Entered by buyer user

In case of yearly budgets:

= Budget / 365 * Days_since_budget_start

In case of monthly budgets:

= (BudgetCurrent Month / 30 * DayCurrent Month ) + SUM(BudgetsMonthlySinceStart)

= Budget - (Accruals + Invoiced)

= Remaining / Budget * 100

= Budget_ytd - (Accruals + Invoiced)

= Remaining_ytd / Budget_ytd * 100

Orders	Accruals	Invoiced
Sum of all order amounts by account entered by buyer user or supplier	= Orders - Invoiced	Sum of all order invoices amounts by account entered by buyer user

How do account accruals get calculated?

Accruals are always adjusted in the account on which a corresponding order was booked!

For a single order, you may book multiple invoices across several accounts and in several currencies. In such a case it is important to understand how accruals for the accounts involved get calculated/adjusted. Please consider the following example:

Step	User action	Account 4350			Account 4400
Step	User action	Order	Accruals	Invoiced	Order	Accruals	Invoiced
1	An order gets booked on "account 4350" with an amount of $100.	$100
2	"Invoice A" for €25 gets booked for that order on "account 4350".		$100 - $22 = $78	$22 A)
3	"Invoice B" for £34 gets booked for that order on another "account 4400". Note that the accruals are adjusted in the account on which the corresponding order was originally booked!		$78 - $45 = $33				$45 B)

Create budgets and edit budgeting figures

Explanations of columns

How do account accruals get calculated?

The above example as seen in the screen