Budgeting with Sage Intacct Budgeting and Planning

Sage Intacct Budgeting and Planning (SIBP) boasts some simple, user-friendly features and solutions to help streamline the budgeting and planning process. This is an introduction focused primarily on utilizing the standard “out of the box” SIBP budgeting functions.  Throughout this series, we will review the different types of models available for budgeting revenue and expenses. Subsequent posts will focus on the functionality of each model, but we’re kicking off this series by covering the basics.  Here are the basics that will enable you to take advantage of SIBP. 

After creating a budget structure using Sage Intacct data (or imported data from excel), each budget line is assigned a default Type.  SIBP uses built-in Revenue and Expense Types to simplify the budgeting process, making updates quick and easy. Let’s walk through what these budget line types are and how they function.  To begin, we need to understand the basics of a Budget Line. 

Components of the Budget Line

The Budget Line is the primary window from which to begin budgeting. The basic components needed for budgeting are Bookings, Spread, Amount, and Payment After (optional) used for cash budgeting. 

Given a budget amount, the Bookings represent the frequency that the budgeted amount occurs, and has an impact on the Spread of the budgeted amount. The bookings can be once, monthly, quarterly, or yearly.

The Spread consists of 3 options.

“Same amount each billing” repeats the budgeted amount based on the frequency established by the Bookings. Monthly Rent is a good example of a fixed monthly expense that would utilize this option.

Selecting “Different amount each billing” requires manually entering the budgeted amount for each period. This option is best used for variable expenses that do not fit any model and regular pattern.

“Growth” adds a designated percentage by which the budgeted amount would increase based on the bookings. For example, if you budget $100, with a booking frequency of monthly, then a 10% Growth would increase the budget amount each month by 10%.

Budgeting Line Types

Depending on the Budget Line Type selected, additional variables work to modify the simple Revenue/Expense line models to better fit common budgeting needs. There are 2 kinds of Budget Line Types: Revenue Types and Expense Types.

Revenue Types

Revenue Types simplify budgeting for common revenue models.  Including the ability to model Deferred Income,  revenue adjustments, and others.  Some of the Revenue Types that will be covered in future blog poses include:

• Simple Revenue {Default}
• Services
• Perpetual License
• SaaS Subscription
• Others

Expense Types

Expense type models simplify budgeting for various types costs and expenses.  These models aid in budgeting for contractors, employee expenses, and calculate derived expenses.  Some of the models to be covered in subsequent posts are:

• Professional Services
• Derived expense
• Salary & Wages 
• Past balances
• Others

With a basic understanding of how SIBP simplifies budgeting, follow us as we explore how each model type functions and some of the potential uses.  Join us next time for more budgeting know how.  

What’s Next?