Hi, I currently use GL 8.0D. I am trying to decide how to start inputting my next years budget data. I am currently working in Fiscal 06/07 with a year end of Oct 31, 2007 however I have to start working on next years budget (fiscal 07/08) for the period Nov 1, 2007 - Oct 31, 2008. Just wondering what you suggest might be the best way to accomplish this. I had thought maybe I could set up a test company to enter it, and then when I roll my year end, copy the data over. I want to be able to utilize my reports in report writer to start producing budget reports for management. I'd like to do this in the easiest way, but also realize that I may have to consider how GL 9.0 may affect this as well if I decide to proceed with this upgrade / new version. I'm wondering whether version 8.1A which I assume I'll be getting fairly promptly will have the capability to set next year up in advance. I thought I had heard something about this new capability (ie. soft close??) with some of the newer versions. Hope this makes sense. Thanks - Sue

A soft year end is coming in version 9 late this year. In this version you will be able to input your next years budgets prior to closing the current year.

On that basis I would not make any major investment in new processes to accomplish your task. Do you mean by "I want to be able to utilize my reports in report writer to start producing budget reports for management." the Ledger Finanacial Reporter?

Would it be possible to just do something in Excel for this year?

Thanks for the quick reply. Yes, I do mean "the Ledger Financial Reporter". Is it possible to do it in a test company and then somehow import it into budget data next year once the year end has been rolled. By the time I can roll my year end I'm totally swamped (and behind), so I thought it would be nice to not have to enter them at that time. Plus it would give me slightly better budget reporting right now. I can do them in excel, but would prefer not if I can do them in Adagio. Do you think it's possible? Thanks - Sue

Hi Sue,

With respect to 8.1 being able to setup for next year actual data and budgets ? My understanding is no, these features are slated for version 9 which should be available sometime around November 2007.

With regards to using Adagio/Excel to prepare your next year budget data now - YES this is possible but I wouldn't setup a test company to do it.

Assuming version 8.0D (and 8.1 should not be a problem either):
<> Basically, I would use Adagio to export from your live data to an Excel sheet and create/save the next year budget data there.
<> You can choose whether to only export the Budget data or you may want to include the Prior Year and Current Year data as well to assist in deciding/calculating what the new account budgets should be.
<> If you're not interested in Balance Sheet accounts and your account number ranges are "clean" (B's not mixed up with I's), you could limit the export to just the Income and Expense accounts.
<> AFTER you have rolled Adagio to the new year, you would BACKUP your live Adagio data and from within Adagio, proceed to import the new Budget data from the Excel sheet replacing any existing budget data.

If you are comfortable with the export/import process and Excel, this should be a relatively painless procedure. If not, you may want to have your Adagio Consultant assist as they are a few Tips & Tricks that can be useful to know.

Lastly, even when version 9 comes out the export/import process may still prove useful for Budgeting, especially where fairly sophisticated factors are used in calculating the new budgets. Naturally spreadsheets are great for "what if" scenarios as well.

Good luck and be sure to put something in the new Budget for Adagio :-)

Regards, Pete

Thanks Pete, I've now noticed another query similar to mine, and there was a link to "Using Excel to Create Budget data for Adagio Ledger". That should be helpful, but I may need to also use an Adagio Consultant. And, I'll try to spare a few bucks in the new budget for Adagio :-)

Sue