1 Table: "Which Budget Style Do I Need?"

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

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