Creating a Revised Mid-Year Budget

Here’s how to create a mid-year revised budget in Martus.

1. Go to Planner > Planner Setup > Budget Management
2. Click Create Budget
3. Choose the option Based on Current Year's Actuals and Budget
   
   
   
   
4. Choose whether to limit worksheets
   • To review what worksheets will be created if unselected:
     • Go to Dashboard > Financials
     • Choose the Worksheet Budget Comparison report
     • Any line with a red X will be created if the checkbox is unchecked
   • Note: If you want to ensure that all activity from the current year is included, uncheck this box. This may create additional budget worksheets where they didn't previously exist.
5. Give the Budget a Name 
6. Click on Create Budget
7. Go to Dashboard > Updater
8. Confirm the job has been completed
9. Go to Planner > Planner Setup
10. Select the budget just created
11. Click Set as Planner
    • Setting this as the Planner default will make it the default budget to work with for this year when working in the Planner area.
    • You are given the option to unlock all worksheets.
      • Click Okay to unlock all worksheets and allow users to begin making edits.
      • Click Cancel to keep the status of the worksheets unchanged.
12. To manage the worksheets, review the Planner Setup article.

Note: When using this approach Martus will freeze the budget through the last closed month or the source budgets frozen through date and set that date as the Frozen Through date. For more information on managing frozen budgets, click here.

New Budget Cycle - How To Create a New Budget

There are three primary ways to create a new budget for the new year based on the prior year's budget. Select one of these three budget types:

• Framework Only: A framework budget is a set of blank budget worksheets, with targets, owners, and approvers carried over from the previous year. Each worksheet will be blank, with no lines or values. Lines can be added per worksheet via the Load option and then the values can be added via Initialize, or on a line-by-line basis. Note - Special purpose worksheets are not copied into a Framework Only budget.
• Budget: A budget for the new year may be based on a prior year's budget. The worksheets are created with lines and values based on the prior year's budget. The values can be adjusted via Initialize, or on a line-by-line basis. 
• Actuals and Budget: A budget may include actuals through a specific month, and use budgeted numbers for the remaining months. This includes all lines from both the prior year's budget and actuals. 
• 12 Month Trailing Actuals: A budget may include actuals for all 12 months. To create a budget based on 12 month trailing actuals, click here.

Before proceeding, know which budget you want to copy into the new fiscal year. Go to Planner > Summary or Planner > Worksheets to review your current budgets.

Set the Budget Year

• Go to Planner > Planner Setup > Set Budget Year.
• Select the year for the new budget and click Set as Budget Year.
  
  
  
  

Start the Budget

• Go to the Budget Management tab.
• Click Create Budget.

You have the following selections available, though a new budget cycle is typically based on prior year's budget or prior year's actuals and budget.

• Empty Budget - Create a new completely empty budget. Enter the Name and Budget Type for the new budget.
• Based on Prior Year's Budget - Create a new budget using only budget from the prior year.
• Based on Prior Year's Actuals and Budget - Create a new budget based on prior year actuals and budget.
• Based on Current Year's Actuals and Budget - Create a new budget based on current year actuals and budget.

Create Using Framework Only 

A framework budget is a set of blank budget worksheets, with targets, owners, and approvers, carried over from the previous year. Each worksheet will be blank, with no lines or values. 

• Click Based on Prior Year's Budget.
• Select the Source Budget.
• Enter a Name for the new budget.
• Click Framework Only.
• Click Create Budget.
  
  

Create Based on Prior Year's Budget

A budget for the new year may be based on a prior year's budget. The worksheets are created with lines and values based on the prior year's budget.  

• Click Based on Prior Year's Budget.
• Select the Source Budget.
• Check to Post SPWs or not.
• Enter a Name for the new budget.
• Click Copy All Budget Values.
• Click Create Budget.
  
  
  
  

Create Based on Prior Year's Actuals and Budget

A budget may include actuals through a specific month, and use budgeted numbers for the remaining months. This includes all lines from the prior year's budget. 

• Click Based on Prior year's Actuals and Budget.
• Select the Source Budget.
• Note that actuals are loaded though the Last Closed Month date.
• Check Limit to Worksheets Existing in Source Budget to limit actuals to current worksheets, or uncheck to create worksheets for unbudgeted actuals.
• Check to Post SPWs or not.
• Enter a Name for the new budget.
• Click Create Budget.
  
  
  
  
  

Complete the New Budget Setup

• Go to Dashboard > Updater and confirm the job has completed.
• Go to Planner > Planner Setup.
• Select the budget just created using the check box to the left. The budget actions menu appears.
• Click Set as Planner. You are given the option to unlock all worksheets.
  • Click Okay to unlock all worksheets and allow users to begin making edits.
  • Click Cancel to keep the status of the worksheets unchanged.
• To manage the worksheets, review the Planner Setup article.

Creating a Budget Based on 12-Month Trailing Actuals

There are many ways to start a new budget cycle. To see them all, click here. This article walks through the specific steps to create a budget for the next fiscal year based on the current year and the previous year's actuals. For example, assuming a calendar fiscal year start, if it is currently September and you have closed August, this method will use January - August actuals of the current year and September - December actuals of the prior year.

Step by Step:

1. Go to Planner > Planner Setup.
2. If needed, navigate to the current fiscal year.
3. Click Create Budget.
4. Choose Based on Prior Year's Actuals and Budget. (NOTE: This will load all of the prior year actuals.)
5. Choose any budget to copy.
6. Give the new budget a title such as "Last Year's Actuals".
7. Click Create Budget.
8. Go to Dashboard > Updater and wait for the task to complete.
9. Go to Planner > Planner Setup.
10. If needed, navigate to the next fiscal year.
11. Click Create Budget.
12. Choose Based on Prior Year's Actuals and Budget. (NOTE: This will load all of the prior year actuals, but won't touch the prior-prior year actuals in later months, loaded in step 4.)
13. Choose the budget created in the steps above.
14. Give the new budget a title such as "Working Budget".
15. Click Create Budget.
16. Go to Dashboard > Updater and wait for the task to complete.
17. Go to Planner > Planner Setup.
18. Select the budget just created.
19. Click Set as Planner.

Budgeting - Final Steps for a New Fiscal Year

Your new fiscal year is starting soon. You’ve built your budget in Martus, and it has been approved! There are just a few more steps to take to be sure your budget is ready to go. You can perform these steps in any order, but Martus recommends that all be completed before your new fiscal year begins. 

Confirm that all worksheets in this budget are locked.

1. Start on Planner > Planner Setup.
2. Select the budget.
3. Click on Lock Worksheets.
   
   
   

Set the budget as the Dashboard default for the new fiscal year.

1. Start on Planner > Planner Setup.
2. Select the budget.
3. Click on Set as Dashboard. You are given the option to lock all worksheets.
   • Click Okay to lock all worksheets and prevent users from making edits.
   • Click Cancel to keep the status of the worksheets unchanged.
     
     
     

Export the Martus budget for import to your accounting system.

• For Sage Intacct:
  1. Go to Planner > Intacct.
  2. Select the correct budget year.
  3. Pick the Martus budget and the target Sage Intacct budget.
  4. Click Upload. (Note: This syncs the budget to Sage Intacct using the API.)
• For Sage 100:
  • Go to Planner > Sage 100.
  • Select the correct budget and year.
  • Enter the Budget Code.
  • Click Export.
• For Sage 300:
  • Go to Planner > Sage 300.
  • Select the correct budget and year.
  • Enter the Budget Code.
  • Click Export.
    
• For ShelbyNext:
  • Export a ShelbyNext budget import template from ShelbyNext. Save it in a convenient location.
  • In Martus, go to Planner > ShelbyNext.
  • Select and load the budget year, then pick the Martus budget to be exported. 
  • Browse for and select the ShelbyNext template that you exported from ShelbyNext.
  • Click Export, and the ShelbyNext budget import template will be updated with the Martus budget information.
  • Import the template into ShelbyNext.
• For Sylogist (Cloud version):
  • Go to Planner > Dynamics.
  • Select the correct budget and year.
  • Enter the Budget Plan No and Document No.
  • Click Export.
• For QuickBooks Desktop:
  • Go to Planner > Planner Setup.
  • From the Budget Management tab select the budget.
  • Click Export IIF File.
• For Financial Edge Next: 
  • Go to Planner > FinEdgeNxt.
  • Select the correct budget and year.
  • Click Export.
• For Other File-Based Implementations:
  • Go to Planner > Planner Setup.
  • From the Budget Management tab select the budget.
  • Click Export.