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Budgeting in Microsoft Dynamics GP

 

Budgeting in GP 

There are many forecasting and budgeting products available that integrate seamlessly with Microsoft Dynamics GP. When a business has high budgeting demands and forecasting needs, it is worth your time to learn about the different tools available to you. One of which, is the standard Budgeting Wizard in GP:

The Microsoft Dynamics GP Budgeting Wizard works with Microsoft Excel to allow you to easily import your budget figures. The Budget Wizard takes you through each step of the process to create the Excel template, which will be the basis for your import. Then, you simply complete the spreadsheet with the appropriate monthly amounts and reimport the data using the wizard.

In Microsoft Dynamics GP, select Cards on the Financial Area Page. Then select Budgets. Click on New and select using Budget Wizard for Excel:

 

Enter the Budget information for each field then click Next:

 

Select a calculation method, the most common selection is Blank Budget:

 

If you would like actual amounts to export as a point of reference when determining your budget, that data will populate in a separate worksheet/tab in the file:

 

Select the Account Types:

By selecting All Accounts, the wizard will automatically pull any GL account that meets the criteria from the window prior to this one. GP allows you to select the accounts by using a different segment in the chart of accounts as well. This is very useful when creating separate departmental budgets.

 

In GP 2013, there is additional functionality that allows you to combine budgets into a master budget as well:

 

Here is a screenshot of the Microsoft Excel file that is created:

Simply fill in the amounts and you are ready to import.

 

Some things to remember when using Budgets in GP:

  1. If the amount is a credit, it should be entered as a negative number.
  2. Do not make changes to the overall layout of the spreadsheet.  The import is a macro, so making changes to the spreadsheet layout will cause the import to fail.
  3. You must have the appropriate fiscal year set up in Microsoft Dynamics GP before you begin the budgeting process.
  4. Updating your budget in Excel and reimporting is much easier than editing budget line items from GP. This leaves less room for error.
  5. Add budgets to your Management Reporter reports by simply selecting them in your column definition.

 

If you want to learn more bout the budgeting tools available to you in your Microsoft Dynamics GP software solution, give us a call today! 

Kelley Sintz   |   ksintz@tidestonesolutions.com   |   207-956-6635

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