Reviews and corrects ledger-to-subledger alignment in D365 by fixing posting configurations, inventory profiles, reconciliation logic, GL mapping, and critical reporting procedures.
Transfer General Ledger Balances to Budgeting in D365 for Finance and Operations
Posted on: January 22, 2018 | By: Jarrod Kraemer | Microsoft Dynamics AX/365
Authored by: Chris Rusing
I illustrated in a previous blog that you can transfer your fixed asset depreciation transactions to the budgeting module in D365 for Finance and Operations. However, what if you are looking to add all your other expenses to your budgeting model and your revenue amounts as well? D365 F&O has a simple and efficient tool available to do exactly this. In this blog, I will show how you can transfer your previous fiscal year balances and use them for your budget amounts in the new fiscal year. If you are using historical or incremental budgeting in D365 F&O then you must read this!
Before we get started, go to the Budgeting> Setup> Basic Budgeting and ensure that you have basic budgeting setup (budgeting parameters, budgeting dimensions, budget models, and budget codes at a minimum).
Now that we have completed our basic setup, let’s go to Budgeting> Budget register entries
Click the New button at the top of the form.
In your created budget register entry, fill out the following fields: the default date, the budget model (I’m creating a budget for the fiscal year 2018), and the budget code. After you have selected the appropriate values for those fields, click Transfer balances at the top of the form.
There are many important fields that we must fill out in this form. First, we want to select our Fiscal year– 2017 because we are transferring our previous year’s balances for the current year’s budget. Next, select the Start date and End date which is the first and last date of my fiscal year. The Quantity is 1 as I have chosen the Unit to be Months. This means that the amounts will come in as totals for each month. Finally, let looks at our ‘Rules’ for transferring the balances. My Factor is 1.10, which indicates it will increase 10% from its original amount. The Minimum is $1,000 which means that any balances under that amount will not be transferred to the budget. Also, my Round-off is $10 so each amount will be rounded to the nearest $10 increment. Finally, be sure to change the Transfer credits as revenue to ‘Yes’ as this will transfer any credit balances as revenue balances (instead of a negative expense). Once we are complete, click the Filter button at the bottom.
In this example, I am only trying to add my P&L accounts for this budget, so I need to specify that certain accounts are filtered out. Click the + Add button at the top and then change the field to Ledger account in your new criteria line. Enter the criteria to only include your P&L accounts. I’m using the Contoso demo data so my P&L accounts are from 400000 to 999999. I will click OK at the bottom when I’m ready to move on.
Enter a description if you would like and click Transfer to move the balances to your budget register entry.
At last, we have our budget account entries transferred. You can edit these amounts in the form or using the integrated Excel functionality. Click Update budget balances at the top of the form to post the budget amounts.
This is a great tool for users that are using historical or incremental based budgeting in their D365 for Finance and Operations environment. For additional information please feel free to reach out to us at info@loganconsulting.com or (312) 345-8817.
All the best!
Logan Consulting
www.loganconsulting.com
