D365 Finance & Operations and Dynamics AX Forum

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Budget

  • 1.  Budget

    SILVER CONTRIBUTOR
    Posted 20 days ago

    We want to start using the budgeting module with AX.  We are on AX2012,  We have multiple entities that we roll up but we don't want to budget by entity unless that is the only way it will work.  We've created a company that we use for eliminating entries for consolidation purposes.  I was thinking of using this company for the budget numbers.  What would be the easiest way to set this up.  We probably only want to budget to the GL level without any financial dimensions.

    Any ideas?  Are there any resources out there that can show me what I need to do to set the budgets? Thanks in advance

    #AX2012 #Functional 

    ​​​​

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    James Wong
    Senior Finance Manager
    Murray Franklyn Companies
    Bellevue WA
    ------------------------------
    Academy - Online Interactive Learning from Experts


  • 2.  RE: Budget

    SILVER CONTRIBUTOR
    Posted 19 days ago
    Hello,

    In my experience we always set up the budget at the individual legal entity and then consolidate using MR. I believe that a legal entity marked as an elimination legal entity won't allow budget postings in it. You can select the dimensions at which you want to budget, so doing it at the main account level is acceptable. There are plenty of resources to help you get started with basic budgeting out there.

    ------------------------------
    Juan Sebastian Grijalba
    Berkowitz Pollack Brant
    Miami
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 3.  RE: Budget

    SILVER CONTRIBUTOR
    Posted 19 days ago
    Juan,

    I've thought about that option.  We are trying to make it a simple process and we don't really budget down the the entity level.  We have over 50 entities so that would be a challenge to manage.  So you can setup the budget at the GL level correct?  We won't need to the dimension level.  I'll check around on the basic budgeting. Thanks.

    ------------------------------
    James Wong
    Senior Finance Manager
    Murray Franklyn Companies
    Bellevue WA
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 4.  RE: Budget

    SILVER CONTRIBUTOR
    Posted 19 days ago
    When using basic budgeting in Microsoft Dynamics AX you will need to compile some information about how the budgets should be configured before
    you begin the configuration. You will get a lot of open source documents for reference but the following list includes the information that you
    should compile before you begin configuring basic budgeting or budget control.

    • Financial dimensions and main accounts that will be used for Budgeting, and that can have amounts transferred either to or from
    them.
    • Currency exchange rates that must be defined, and what those exchange rates are.
    • Budget codes that must be set up for each budget type, and which code is the default budget code.
    • Budget register entries that will use workflows. You assign workflows to budget codes. The budget register entries that are
    associated with a budget code that has an assigned workflow are automatically submitted to workflow.
    • The names of each budget model.
    • How the budget cycles will be set up.
    • Amounts that will be allocated across periods or to other financial dimension values.
    • Financial dimensions that will have recurring amounts.
    • Budget models that will be used in cash flow forecasts.

    Reference:

    https://docs.microsoft.com/en-us/dynamicsax-2012/appuser-itpro/about-basic-budgeting

    ------------------------------
    Shilpi Thakur
    Freelance AX/D365 Microsoft Consultant
    Dynact Consulting Ltd
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 5.  RE: Budget

    SILVER CONTRIBUTOR
    Posted 16 days ago
    Thanks, Shilpi, for the info.  I'll take a look at the link.

    ------------------------------
    James Wong
    Senior Finance Manager
    Murray Franklyn Companies
    Bellevue WA
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 6.  RE: Budget

    SILVER CONTRIBUTOR
    Posted 16 days ago
    Shilip, Just curious. Why is the currency exchange rate needed if we are using USD across all entities for the budgets? Would we set it up as USD to USD?

    ------------------------------
    James Wong
    Senior Finance Manager
    Murray Franklyn Companies
    Bellevue WA
    ------------------------------

    Academy - Online Interactive Learning from Experts


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