About Budget Pools

A budget pool allows you to share a single budget amount among two or more accounts.

The Create Budget Pool command creates a pool from selected account codes in the Available Account Codes list. When this command is invoked, the system checks to ensure that none of the selected account codes violate the Element Value Hierarchy as defined in the Element Value Maintenance screen. For example, if one controlling element in an account code is a subordinate to another in the Element Value Hierarchy, they cannot be part of the same budget pool.

Once this check is performed, an account code that represents the selected account codes is added to the Budget Items grid and the selected account codes are removed from the Unassigned pool and added as subordinates to the new budget pool account code. If the budget pool account code did not already exist, it is automatically created in the chart of accounts.

When this relationship is established, all account codes subordinate to the budget pool account code will look to the budget pool account code for their budgeted monies. For example, when a salary encumbrance for a Teacher is charged against an account code that belongs to a Certified Salaries budget pool, it looks to that pool account code to ensure that there are enough funds budgeted for the encumbrance.

If you want to use budget pools, we recommend you log a support call for help with the setup.

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