A budget represents a portion of your funds that is earmarked for certain library material. You can create any number of budgets, based on how you want to use and track your funds. However, the total of all the budgets must equal the total budget amount allocated to your library.
After you set up your budgets, you can begin assigning them to purchase orders. As you process purchase orders, budgets are automatically encumbered, expended, and unencumbered as is appropriate.
Throughout the year, you can do several tasks to review and update your budgets, such as reviewing budget reports, adjusting funds, or changing a budget’s status. At the end of the year, you can close your budgets and prepare for the new year.
You create and update budgets in the Edit Budget window. Here is a sample window:
(For a description of the fields in this window, see Edit Budget Window.)
This section explains these topics:
• | Budget Categories and Fiscal Years |
• | Budget Hierarchy |
• | Budget Limit Checking |
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