Adopt a Budget

Adopting a fund budget causes a transaction to be written in the GL budget journal.

In order to adopt a budget, the budget must balance because of the journal entry that is created. As you enter budgeted expenditures and estimated revenues, the summary grid in the Budget Management window displays the proposed entries in the Difference column. You have two options if expenditures and revenues aren't equal. You can either:

• Select one or more accounts of the Fund Balance/Retained Earnings type and enter the difference manually.

• During adoption let AptaFund create the balancing transaction in the budget control balancing account that was set up when the chart of accounts was created during implementation.

Adopt fund budgets

1. Select Budget Management from the Budget menu, and that window opens. Note: If you need to work in a different accounting cycle, select it from the link in the upper right corner

2. Click Adopt, and the Adopt Budget window opens.

3. Edit the Adopt Date, if needed, usually the beginning of the new fiscal year.

4. Enter any desired Comments.

5. Check the box(es) for the fund(s) whose budgets you want to adopt, and click OK.

• If the budget is in balance, you'll be notified that the record was saved successfully. Continue with step 6. Note: If you're adopting more than one budget and at least one of them is out of balance, AptaFund will process the out-of-balance budgets first, and the Budget Transactions window will open.

• If the budget is out of balance, the Budget Transactions window opens. Continue with step 6.

6. Click OK. You're notified that the record was saved successfully, and you're returned to the Budget Management window.

7. Selected the Adopted budget, and use the Account Type pinned filter to display all the accounts used in the budget.

• You'll see an entry for the Fund Balance/Retained Earnings account type in the summary, if applicable.

• The Difference column now displays only $0.00s.

• The Proposed Amount has been moved to the Adopted Amount and Current Budget columns.

You can see the transaction for the adopted fund budget in the General Ledger > Transaction Journal Detail window.

Return to Create a Budget for a Single Account

Return to Import a Budget

Return to Budget Management Overview