Creating a Budget Journal to Increase Revenue (Revenue Ledger - DEPT_REV)

Overview

Revenue Budget increases and the corresponding Expenditure Budget increases are recorded in separate Budget Journals through the Budget Journal pages. These Budget increases are typical for Departmental Sales and Service budgets (Funds 14xxx) and "Various" restricted budgets in Fund 20400.

The two journals and the procedures for entering each are very similar, with the main difference being the Ledger and the accounts that are included in the journals. Revenue budgets are reflected in the DEPT_REV ledger group, and Expenditure budgets are reflected in the DEPT_CHILD ledger group. A budget journal can only contain a single ledger, and this is the reason for separate Revenue Budget and Expenditure Budget Journals.

Revenue Budget Journals include the DEPT_REV ledger and can include only Revenue accounts. Revenue accounts always begin with a 4. Expenditure Budget Journals include the DEPT_CHILD ledger group and can include only Expense accounts. Expense accounts are accounts 500000 up to 999999.

Budget increases are always entered as positive numbers and budget decreases are always entered as negative numbers. This is true for both Revenue budget and Expenditure budget.

This document is meant to illustrate the mechanics for entering a Revenue Budget Journal to the DEPT_REV ledger. Please refer to the document Guidelines for Budgeting Revenues and Expenditures by Fund for guidance related to the substance of the Budget Journal.

In this article, you will learn how to establish your departmental sales account budget using the Budget Journal feature.

Note: The Revenue and Expense sides of this will be entered in separate transactions. Budgeted Revenues are entered to the DEPT_REV ledger group and Budgeted Expenses are entered to the DEPT_CHILD ledger group. A Budget Journal can only have one Ledger Group.

Note: You will need your departmental chartstring information including amount to use in place of the example shown.

1. Step 1

Financial Management System homepage with Employee Self Service dropdown button highlighted.

First, log into the UGA Financial Management System.

The Budget Journals are under Commitment Control which is part of the General Ledger group of pages.

Click the Employee Self Service dropdown button to activate the menu.

2. Step 2

Financial Management System homepage with UGA Financialsbutton highlighted.

Click the UGA Financials link.

3. Step 3

UGA Financials homepage with General Ledger tile highlighted.

Click the General Ledger tile.

4. Step 4

Geenral Ledger homepage with Commitment Control menu highlighted.

Click the Commitment Control menu.

5. Step 5

General Ledger homepage with Enter Budget Journals option highlighted.

Click the Enter Budget Journals option.

6. Step 6

Enter Budget Journals page with Hide Menu button highlighted.

Click the Hide Menu button.

7. Step 7

Enter Budget Journals page with Add a New Value highlighted.

On the Add a New Value page there are already three values that default.

Validate that the correct business unit has defaulted. If not, enter 18000.

Do not change the Journal ID of NEXT. This allows the system to autonumber and assign a Journal ID when the journal is saved.

The Journal Date defaults to the current date, but may be changed, if needed. The month entered here determines the period in which the journal is posted.

8. Step 8

Enter Budget Journals page with Add button highilghted.

You are adding a new revenue budget transaction.

Click the Add button.

9. Step 9

Budget Header pagew with tabs options header highlighted.

The Budget Header page is displayed with the values you entered on the previous page. Use this page to specify the business unit, journal ID, journal date, ledger group, budget entry type, and currency.

Note : If the date on the Journal is outside the range of open months, a warning message will be displayed.

10. Step 10

Budget Header page with Ledger Group field highlighted.

DEPT_REV is the Ledger Group to which a Revenue budget journal will be posted.

Click the lookup magnifying glass to the of the Ledger Group field.

11. Step 11

Look Up Ledger Group pop-up with example value highlighted.

The only ledgers to use for Commitment Control transactions are DEPT_CHILD for expenses and DEPT_REV for revenue.

Since this is for a revenue budget, click the DEPT_REV link.

12. Step 12

Budget Header page with Budget Entry Type dropdown menu highlighted.

Budget Journals submitted by Departments and Units will all be Adjustments. Only the Central Offices will work with Original budgets.

Click the Budget Entry Type dropdown menu.

13. Step 13

Budget Header page with Budget Entry Type menu option Adjustment highlighted.

Click the Adjustment option.

14. Step 14

Budget Header page with Long Description field highlighted.

Enter the Description of the budget journal in the Long Description field.

15. Step 15

Budget Header page with Attachments link highlighted.

Click on the Attachment link and upload any attachments you need the approver to include as justification.

16. Step 16

Budget Header page with Budget Lines tab highlighted.

You are now ready to enter the lines.

Click the Budget Lines tab.

17. Step 17

Budget Lines page with Lines section highlighted.

The Budget Lines page is where you enter the accounting information (chartstring) for the revenue transaction.

18. Step 18

Budget Lines page with SpeedType field highlighted.

If you already have a speed type created that uses all the ChartFields you are entering for this chartsting, you can enter it. If not, you will need to enter all the ChartFields.

19. Step 19

Budget Lines page with Account field highlighted.

Enter the Account information to which this budget is to be tracked.

Example shown here: " 703000 " into the Account field.

20. Step 20

Budget Lines page with Bud Ref field highlighted.

The Bud Ref is the fiscal year to which the transaction applies.

Enter appropriate information into the Bud Ref field.

Example shown here: " 2024 " into the Bud Ref field.

21. Step 21

Budget Lines page with Fund filed highlighted.

Enter appropriate information into the Fund field.

Example shown here: " 10000 " into the Fund field.

22. Step 22

Budget Lines page with Dept field highlighted.

Enter appropriate information into the Dept field.

Example shown here: " 16001001 " into the Dept field.

23. Step 23

Budget Lines page with Program field highlighted.

Enter appropriate information into the Program field.

Example shown here: " 16400 " into the Program field.

24. Step 24

Budget Lines page with Class field highlighted.

Enter appropriate information into the Class field.

Example shown here: " 11200 " into the Class field.

25. Step 25

Budget Lines page with Amount field highlighted.

Enter appropriate information into the Amount field.

26. Step 26

Budget Lines page with Save button highlighted.

When you have the ChartFields and the Amount entered, save the transaction.

Click the Save button.

27. Step 27

Budget Lines page with Journal ID highlighted.

A Journal ID is assigned to the transaction when you save it.

28. Step 28

Budget Lines page with Process menu highlighted.

The second step is to Edit the ChartFields to make sure they are valid.

Click the Process dropdown menu.

30. Step 30

Budget Lines page with Edit Chartfields option highlighted.

Click the Edit Chartfields option.

31. Step 31

Budget Lines page with Process button highlighted.

Click the Process button.

28. Step 28

Budget Lines page with Budget Pre-Check option highlighted.

You are now ready to process the Budget Journal and submit it for approval.

Click the Process dropdown menu.

32. Step 32

The first thing you need to do is a Budget Pre-Check.

Click the Budget Pre-Check option.

33. Step 33

Click the Process button.

34. Step 34

Budget Check confirmation pop-up with Yes button highlighted.

A message asks if you want to do a check that will not post.

Click the Yes button.

35. Step 35

Budget Lines page with Budget and Approval Header Status information highlighted.

When the Budget Check is complete and correct, you will see a Budget Header Status of "Checked Only."

36. Step 36

Budget Lines page with Submit for Approval checkbox highlighted.

If the Approval Header Status does not indicate an error, you are ready to submit the Budget Journal for approval.

If the status does indicate an error, click on the Errors tab to find out what the error is and take corrective action. Run the Pre-Budget Check if you change the amount and run the Edit ChartFields process if you change ChartFields.