Creating a Budget

WinNetStar includes a Budget Module that allows the user to create multiple operating budgets for each year. For example, in the same fiscal year, you can have a Best Case, Most Likely Case, and a Worst Case operating budget. Actual results can then be compared against the various budgets. Budgets can be created from scratch by entering the data directly into the system; however, the module includes a feature allowing users to import budgets from Microsoft Excel spreadsheets. You can also create a budget by copying the previous year’s actual operating results, or you can copy a previous budget as your starting point. Most users will want to create their budgets using Excel and then import those once they have been finalized since manipulating the numbers will be easier in the spreadsheet. Click here to download the Budget Import template.

To create a new Budget, go to:

Company > New > Budget

To find existing Budgets, go to:

Company > Find > Budget

When creating a new Budget, you must give it a name and select a Fiscal Year.

Budgets have a Status. All budgets will start with a Status of In-Process until a user chooses to Save Final Version. Once this is done, the Status will change to Final and the Budget will no longer be editable. You do not have to Finalize your Budget in order to compare it to actual operating results. Some users may not want to Finalize Budgets and this is OK. Those Budgets will simply remain editable.

Selecting the Populate Budget option will produce a blank budget for a user to manually key in the budget amounts for each month of the fiscal period. (Not recommended). Selecting the Import Excel File option will allow the user to lookup an existing Excel file for import. Imported files must be in a very specific format for the import to work correctly. More on this in later screen shots.

Selecting the Populate From Actual option will prompt the user to select a prior fiscal period to copy. Once copied, the data can be edited. Users will generally be better off, however, copying prior year data into a spreadsheet for ease of manipulation and then using the Import Excel File option.

Selecting the Copy Prior Budget option will prompt the user to select a previously saved budget. Again, users will generally be better off copying prior year data into a spreadsheet for ease of manipulation and then using the Import Excel File option.

Selecting the Import Excel File option will produce this pop up illustration of the data layout of your Excel File required in order to use this feature. Click on the Import button to select your file. The first column must be the complete account number and there should be one column for each month of your fiscal year starting with the first month of your fiscal year. So if your fiscal year end is September, your first month should be October.

Click on Select File to Import and you will see a lookup of your local data files. Select the Excel File you wish to import and the File Path and Name will appear in the File Name field above. Next, select the Sheet Name from the Excel File you have selected that includes the data you would like to import. You are then ready to click on the Import button.

After clicking on the Import Button, you should see your data in the pop up window. Notice that the system will inform you of the number of rows that were imported. You are now ready to click on Transfer Data to Document.

If your data passes the basic validation rules you will see your budget populating the screen. If you have any validation errors, the system will inform you of this fact. The amounts in your budget are editable. You can now save your budget or you can Save Final Version if you do not want to be able to edit the data.

To produce Budget vs Actual Reports go to:

Reports > Financial > Budget vs Actual PL

This screen is very similar to your Profit and Loss Report.

Select the Budget you would like to use.

Select the date range for the Actual period you would like to compare to budget. Since your Budget is prepared using monthly data, you will probably want your actual data to be a number of full months as well.

Select the locations and departments you would like to see on your report and select the Dollar change and Percent Change if you would like to include those columns in your report.

When you have selected all of your options, click the OK button.

A new tab will appear with a print preview of your report. You can now print, export to Excel or attach to an email.