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How to Create and Compare Budgets in Microsoft Dynamics 365 Business Central

Jun Wang Profile Picture Jun Wang 4,806 Super User

How to Create and Compare Budgets in Microsoft Dynamics 365 Business Central

Managing budgets efficiently is crucial for any organization. In Microsoft Dynamics 365 Business Central, while you can't directly view two budgets side by side on the same page, there are effective ways to reference and compare past and current budgets. Here's how you can do it:

Creating a New Budget by Referencing a Previous Year

  1. Copying an Existing Budget:

    • Navigate to the "Budgets" page.
    • Select the budget for the previous year (e.g., 2024).
    • Use the "Copy Budget" function to create a new budget for the current year (e.g., 2025) by copying the figures from the previous year.
    • Make necessary adjustments to the new budget as needed.
  2. Exporting and Importing Budgets:

    • Export the previous year’s budget to Excel.
    • Update the budget in Excel with the new figures for the current year.
    • Reimport the updated budget back into Business Central.

Comparing Budgets Using Financial Reports

  1. Using Financial Reports:
    • Navigate to the "Financial Reports" page.
    • Create a new financial report or edit an existing one.
    • Define the rows and columns to display actuals against budgets for different years, such as 2023 and 2024.
    • This allows you to view actual figures and compare them with budgets from different years on the same report.

Benefits of These Methods

  • Copying Budgets: This method ensures consistency and saves time when creating new budgets based on historical data.
  • Export/Import: Excel provides flexibility in making bulk updates before importing data back into Business Central.
  • Financial Reports: These reports offer a clear comparison of actual performance against budgets across multiple years, aiding in strategic decision-making.

Conclusion

While Business Central does not allow viewing multiple budgets side by side on the same page, copying budgets and using financial reports provide practical alternatives. These methods help maintain accurate budgeting and facilitate better financial planning and analysis.

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