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Monitor the Status of the Budget Process

Your CFO knows the budget process is behind schedule and wants to update the Board's Finance committee.You can give him an up-to-the-minute status report, quickly and easily, if you have Kreg's Summary Reporting feature in EnterpriseVision.. This feature allows managers, directors, VPs and Finance staff to quickly see status reports of budget requests any time during the process. These amounts can be viewed based on budget request status (submitted, not submitted).

An example of the summary information is shown below in Figure 1. What the user sees is limited to the user's specific access permissions set in system security. In this example, the budgets have just been published so no budget requests have been entered at this time: note the Budget Request column is empty.

Figure 1

Sample Status Report as Originally Published

 

FOTM 2016 07 Fig1

 

The managers can see a summary of their responsible areas. Columns of data are based on the budget input form. In the above example, the user sees:

- YTD Actual
- Actual Rate per Unit
- Current Budget
- Budget Rate per Unit
-
Forecast Amount
-
Budget Request
-
Increase/Decrease from Forecast

Specific department totals can be viewed by selecting an individual repcenter or by viewing the individual repcenter report (which will show the subaccount detail for each grouping).

The specific rows displayed in the report are defined in Kreg’s GL Report Writer. Report rows and columns are identified with specific types in the report definition.This communicates with the summary reporting function in EV to know which rows and columns to report. Finance staff and Administrators determine the subtotal information they want to see in summary report format from the budget input form and Finance configures the report definition to display that data.

Another example is shown in Figure 2. As Managers work through the budget process, enter requests and save their workbooks, we can see the Budget Request column populated with those requests. The amounts shown in the Budget Request column are different, based on whether you are viewing Submitted or Un-submitted Reporting Centers. Submitted indicates the VP has approved and submitted the budget request to Finance for processing. Un-submitted indicates the budget request is still a work in progress.

Figure 2

Sample Status Report Mid Process

FOTM 2016 07 Fig2 

The Summary Report defaults to a all the repcenters to which you have access. You have the option of selecting specific reporting centers as shown in Figure 3.

Figure 3

Select Departments to be Included

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FOTM 2016 07 Fig6

 

 

If you would like more information about this
please call our Virginia office at 804-320-3461,

or contact your Kreg sales representative.

 

 


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