1 Table: "Which Budget Style Do I Need?"
| Dashboard | Basic Budget Entry | Custom Budget Entry | |
| Screenshots (click to expand) | |||
| Simple Definition | • lists
all accounts in the dept • states amt budgeted, update info, approval & locked status of each acct |
• 12 months for
all accounts plus spread methods • If necessary, you can still drill down to itemize |
• Design your
own column format • Structure like a financial report with variances & comments |
| Key Features | • Lock
Account • Mass Approvals |
Immediate value entry on screen | •
User defined columns (not rows) • Historical comparisons/variances • Input - Multi-year, Annual only, etc. |
| Pros/Why Use This | •
Users must drill into each acct • Multiple line items • Encouraged to itemize expenses |
•
If users complain about drilling down • If you have simple needs • If values are pre-vetted, you just need to collect the monthly totals per accounts • Don't care about the details |
•
Suits custom needs • Starting entry point can be a comparative financial report • You can force the user to explain variances with summary comments in advance • Finance will not have to collect, import, aggregate & determine the cause of variances • Eliminates the need to hunt Managers down for explanation |
| Cons/Downside | •
Can be cumbersome for users who want to enter one line of values per
account • Best functions as a control tool for Budget/Finance Dept • Users must drill down into each Acct to do data entry |
•
Discourages itemization • Spreading on historical budget/actual will only update after save & search. |
•
Users must drill down into each Acct to do data entry • May overwhelm users with too much data |