Budget vs Income/Expense Report

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aarondesk
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Budget vs Income/Expense Report

Postby aarondesk » Thu Jan 13, 2011 6:26 pm

Hello all,
I'm a new financial clerk (got called around the time CUBS was loaded) and I think I'm finally getting things down.

But I'm not sure what the difference between the Budget Report and Income/Expense Report is. I can see all the budget assignments from the Income/Expense Report just fine. For instance, we had some money left over from last year and the Income/Expense Report properly lists that money as being carried over. The Budget report however lists no money being carried over.

Why is that? Am I missing something?

Thank you.

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aebrown
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Postby aebrown » Thu Jan 13, 2011 6:38 pm

aarondesk wrote:But I'm not sure what the difference between the Budget Report and Income/Expense Report is. I can see all the budget assignments from the Income/Expense Report just fine. For instance, we had some money left over from last year and the Income/Expense Report properly lists that money as being carried over. The Budget report however lists no money being carried over.


The Income & Expense Report shows all the hard dollars in the various categories. These amounts should basically correspond to the figures on your monthly Unit Financial Statement. So it makes sense that the I/E report would show the money that is carried over.

The Budget Report, on the other hand, is designed to show the amounts that have been budgeted to be spent in the coming year. That amount may be less than the anticipated hard budget balance (carry forward plus estimated quarterly budget allocations), particularly if you have a significant surplus carried forward. The Budget Report is designed to help you track your expenses against your budget by subcategory.
Questions that can benefit the larger community should be asked in a public forum, not a private message.

aarondesk
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Postby aarondesk » Thu Jan 13, 2011 7:01 pm

Ok, that makes more sense. Is there anyway to have the carry-over show in the Budget report?

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aebrown
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Postby aebrown » Thu Jan 13, 2011 8:57 pm

aarondesk wrote:Ok, that makes more sense. Is there anyway to have the carry-over show in the Budget report?


Sure. You just have to create a budget item for it in the View/Edit Budget screen (perhaps in the Budget:Budget Allocations subcategory). Then it will be included with your other budget subcategories.
Questions that can benefit the larger community should be asked in a public forum, not a private message.

crislapi
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Postby crislapi » Fri Jan 14, 2011 10:45 am

aarondesk wrote:But I'm not sure what the difference between the Budget Report and Income/Expense Report is. I can see all the budget assignments from the Income/Expense Report just fine. For instance, we had some money left over from last year and the Income/Expense Report properly lists that money as being carried over. The Budget report however lists no money being carried over.

The budget report only shows transactions that occur in the current (or selected) calendar year. Carry-over is a result of transfers and expenses made in a previous year and therefore do not show on the budget report. The budget report does not pull in information from different fiscal years and, should you try to force it to by adjusted the date range, will warn you that the report cannot span fiscal years.


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