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Slide notes: When we capture or process the new Financial Budget for an upcoming new Financial Year, which is the correct option to use? It is the option called 'Fin Budget and Expected', because while we capture the new Financial Budget, the system will use the exact same figures to create the 1st Expected Budget, and that becomes the basis for Budget Revisions that may be performed during the new Financial year.

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Slide notes: We always Budget by GL Account Code, and all the usual retrieval options for GL Account Codes are available.

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Slide notes: Here we have an example of starting a new Budget for this Account. On the right, we can see the Previous Budget and the Actuals comparisons, and we can use any of the 'tools' functions for Budget Capture.

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Slide notes: In this example, we use the Prior Budget and increase it by 10% for the New Year.

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Slide notes: Note that we are budgeting for January to December 2010.

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Slide notes: When we choose SAVE to update the Budget, we may also have an option to link to Expected. What does that mean?

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Slide notes: In this case, we will choose YES to see what happens.

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Slide notes: And in fact, it appears that at this stage, the year 2010 is still more than 2 months away, and the system is allowing us to perform a Budget Revision for the remaining months of 2009, i.e. November and December. This is of course dependent on settings, but rather typical in cases where next Year's Budget is being worked on 3 or more months before the start of the New Financial Year.

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Slide notes: We do not have to revise the remaining Months of the Current Year, but we can if we think that we have a more accurate Estimate at this stage than what the Budget currently indicates.

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Slide notes: Once we have saved or updated a Budget for an Account, then we are ready to select the next Account for Budget Capture. And we can update an Account that we have already updated before, because when we make any changes, the system will overwrite and replace the Budget figures with the latest figures that we save.

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Slide notes: We may add short Budget Notes by Period to indicate any explanation we deem necessary to explain Budget amounts.

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Slide notes: So we expect more Sales in December in this case and therefore also a higher Cost of Sale.

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Slide notes: And we also raise the Financial Budget for this month.

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Slide notes: And choose SAVE to update the Budget.

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Slide notes: And that is how we use the Financial Budget Capture option for an upcoming Financial Year.