Tip of the week from Brenda Hopkins – Week 16

Budgets Can Now be Tracked across Years

There are times when a fund or grant does not start on the first day of the fiscal year or end on the last day of the fiscal year. The life of the fund or grant sometimes also crosses over fiscal years. This feature provides the ability to budget based on a start and an end date in Microsoft Dynamics GP Release 10.0.

Not for Profit and Public Sector organizations often have the need to track funds and grants to associate expenses against money received. Funds are typically tracked as a segment of the General Ledger account segment in Microsoft Dynamics GP, and grants are often tracked as a Transaction Dimension Code within Analytical Accounting.

A few changes have been made to the budgeting windows in Microsoft Dynamics GP Version 10 to accommodate the ability to enter budget start and end dates. The Budget Maintenance window was updated with these changes.

Cards > Financial >Budgets

To enter start and end dates for a budget, you will need to select the Date Range in the Based On field.

If Fiscal Year is selected in the Based On field, budget functionality works as before, and no budget start and end date can be entered.

Budgets created in the Single Account Budget Maintenance window, using the Budget Wizard for Excel or in Analytical Accounting Budget Maintenance can also be based on a fiscal year or date range and allow for start and end dates to be entered for budgets.