Planning Your Budgets
Setting up your budgets requires careful planning. The way you set up your budgets has several implications for tracking statistics, generating reports, and searching for budgets. In addition, budgets are generally created once and then used year after year (although you can create new ones if you want). Before you begin creating your budgets, complete the planning checklist below.
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Think about how you want to divide and organize your funds. Possible criteria for organizing your budgets include location, collection, format, fund source, and fund destination. Note that you may want to create a separate budget for extra charges. (For more information, see Extra Charge Types.) |
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Decide whether you want to use PO line statistical classes to track order statistics. This decision may influence the number of budgets you create. (For more information, see PO Line Statistical Classes.) |
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Choose a consistent method for naming your budgets. Your budget codes and descriptions may reflect one or more characteristics of the budget, such as its fund source, or the location or collection it will be used for. If you want to show the hierarchical organization of your budgets, include each level of the hierarchy in the description, separated by a period. (For more information, see Budget Hierarchy.) |
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Choose a consistent method for assigning budget codes. This will let you use truncation to select a group of budgets at search windows in Horizon. (For example, if you start your book budgets with “BK,” you can enter “BK*” to select all your book budgets.) |
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Record your plans on paper. If you plan to organize your budgets hierarchically, create a diagram of the hierarchy. (For example, see Budget hierarchy.) Keep in mind that there is no limit to the number of budgets you can create. Write down budget codes, descriptions, and amounts. The more you plan on paper, the easier it will be to enter the budgets in Horizon. |
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