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Finance | Project Operations, Human Resources, ...
Suggested Answer

Budget opening balances

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Posted on by 5

Hi,

I have created a budget planning process in Dynamics 365, where i have posted amounts on the balance in 2019 in a budget scenario, but those balance does not get carried over as opening balances in the same budget scenario for 2020. 

How do i set up opening balances correctly, so that i only have to post the movements on the balance sheet in January 2020 and not the entire closing balance?

/Christian 

I have the same question (0)
  • Ludwig Reinhard Profile Picture
    Microsoft Employee on at

    Hi Christian,

    Does you company carry forward budget amounts over multiple years?

    I have not seen this in the private sector.

    Can you elaborate on the budgets your refer to?

    Many thanks,

    Ludwig

  • cjakobsen Profile Picture
    5 on at

    Perhaps i did not explain myself that well.

    What i means is that I want to make a budget for 2020 split in months.

    In December 2019 i have an estimated closing balance (which i made in October 2019, so it is not equal to the actual closing figures for 2019 - but estimated). I want to enter that estimated end-2019 balance somewhere, so that January 2020 knows that e.g. "Other Debt" starts in 400.000 EUR, meaning if i want end-January 2020 to be 500.000, i just enter the month's transaction of 100.000, and not just the 500.000 as end-balance.

    The reason for this, is that in Financial Reports i calculate the cash flow automatically, and i cannot figure out how i only show the periodic flow in January 2020 - and also how i show opening cash, which of course is caused by the same issue, that i cannot enter an opening balance.

    What i tried to do was to enter figures in the same scenario, which i called "BUD20" for December 2019, but my opening balance for January 2020 still shows zero.

    I may just have overlooked a simple solution, but it is completely invisible for me right now.

    /Christian

  • Geoff_Bianchi Profile Picture
    10 on at

    Hi Christian, did you ever solve this problem. I am looking to do the same this in establishing balance sheet budgets and need to understand how to set up the budget opening balances.

    Would appreciate any help you can provide.

    Cheers

    Geoff

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Microsoft Employee on at

    Hello Geoff,

    Are those budgets that you mention related to projects?

    For those budget, you can following the process described here:

    docs.microsoft.com/.../process-project-budgets-for-fiscal-year-end

    Best regards,

    Ludwig

  • cjakobsen Profile Picture
    5 on at

    Hi Geoff,

    No unfortunately I did not solve it. But in case you do, I would appreciate you sharing the answer.

    /Christian

  • Geoff_Bianchi Profile Picture
    10 on at

    Hi Ludwig,

    Sorry not project related. Just need to post the opening balances for Balance Sheet accounts so that the monthly budget movement reflects a budget total to report actuals against.

    Probably a silly question but is there a period 0 you can post a carry forward balance to?

    Cheers

    Geoff

  • Ludwig Reinhard Profile Picture
    Microsoft Employee on at

    Hello Geoff,

    There is a period 0 but you cannot post into it.

    Only the year end process can create a transaction in period 0.

    Best regards,

    Ludwig

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