Budget to Actuals by Period & Budget to Actuals by Fiscal Year Report

Summary

This guide covers navigating to the two reports on the Transactional Reporting Table of Contents, the differences between them, and how to run them. This report provides a budget to actual summary for organizations to show activity by period over time. Use this report for planning purposes and to compare budget amounts against actual balances at a high overview level. It is recommended to use the Account Analysis Report to view more specific activity details.

Body

This guide will cover:

Note: This report automatically downloads as an Excel Spreadsheet.

 

Information

The Budget to Actuals by Fiscal Year Report and Budget to Actuals by Period Report provide a budget to actual summary for organizations to show activity over time. Use these reports for planning purposes and to compare budget amounts against actual balances at a high overview level. It is recommended to use the Account Analysis Report to view more specific activity details. It is not required or necessary to use both reports. See the tips sidebar for more details.

The Budget to Actuals by Fiscal Year Report was created with year-over-year analysis (i.e. “What are the overall, long-term trends in a unit?”) in mind and the Budget to Actuals by Period Report was created for intra-year analysis (i.e. “Does my unit spend more in certain quarters? Are there monthly trends that can be used to forecast into the future?”).

 

Step One

Navigating to the Reporting Table of Contents

  • Navigate to WyoCloud and click on the Reporting Table of Contents tile.

  • Once you have located the Table of Contents, click on the "Budget to Actuals by Fiscal Year Report” (Step 2) or the “Budget to Actuals by Period Report” (Step 3). Both reports are found under the Budget and General Ledger header.

 

Step Two

Running the Budget to Actuals by Fiscal Year Report

To run the Budget to Actuals by Fiscal Year Report:

  • Under the "Budget and General Ledger" header on the Table of Contents, click on the Budget to Actuals by Fiscal Year Report.

  • The report prompt page will now be opened.

Graphical user interface, application, WordDescription automatically generated

 

Narrowing Down the Report

  • You may use the following prompts to narrow the report to only display information relevant to your needs. It is required to search by Fiscal year and recommended at minimum to prompt by the organization.

           Note: in most cases, you can leave a prompt blank or leave the default in any or all prompts.

  • After selecting desired prompts, click Apply.

Graphical user interface, applicationDescription automatically generated

  • The Budget to Actuals by Fiscal Year Report is downloaded as an Excel File to your Browser and may be opened. 

TableDescription automatically generated

 

Step Three

Running the Budget to Actuals by Period Report

To run the Budget to Actuals by Period Report:

  • Under the "Budget and General Ledger" header on the Table of Contents, click on the Budget to Actuals by Period Report.

  • The report prompt page will now be opened.

Graphical user interface, text, applicationDescription automatically generated

 

Narrowing Down the Report

  • You may use the following prompts to narrow the report to only display information relevant to your needs. It is required to search by Fiscal year and recommended at minimum to prompt by the organization.

Note: in most cases, you can leave a prompt blank or leave the default in any or all prompts.

  • After selecting desired prompts, click Apply.

Graphical user interface, text, applicationDescription automatically generated

  • The Budget to Actuals by Period Report is downloaded as an Excel File to your Browser and may be opened. 

A picture containing tableDescription automatically generated

 

Step Four

Parameters, Defined:

Column Name

Column Definition

Example

Mandatory Field:

Fiscal Year

Select the appropriate Fiscal Year

2022

Period Name

Select the appropriate Period

1 (July)

Optional Fields:

Subdivision

Name of the Subdivision

Business Enterprises Subdivision

Department

Name of the Department

Administration Department

Organization

Name of the Organization

 Accounting Office

Organization Code

Number that represents the Organization

22102 (Accounting Office)

Entity Code

Subset of the University reporting unit (most transactions fall under 10, unless your department is a specialized entity)

10 (University of Wyoming) 

Natural Account Code

Specific type of asset, liability, equity, revenue and expense. *Budgets are defined at this level, but ultimately rollup to specific categories*

64002 (Office Supplies)

Fund Class Code

Source of funds for transactions.

105 (Unrestricted Operating)

 

Fund Source Code

Specifies the exact nature of the source of funds, classified by restrictions to further narrow down the funding source

000001 (Unrestricted Operating)

 

Step Five

Interpreting the Report

Column Name

Description

Budget Debit Amount

The budgeted amount in the period (Fiscal Year Budget divided by 12 months) to be debited to a natural account line

Budget Credit Amount

The budgeted amount in the period (Fiscal Year Budget divided by 12 months) to be credited to a natural account line

Budget Total Amount

The budgeted amount difference between the debits and credits for a specific period

Actuals Debit Amount

The actual amount debited to an account in a specific period

Actuals Credit Amount

The actual amount credited to an account in a specific period

Actuals Total Amount

The actual difference between the debits and credits for that period

Encumbered Debit Amount

The commitment of funds that have been reserved when a purchase requisition is finalized and approved in WyoCloud

Encumbered Credit Amount

The amount of funds that have been credited back to the natural account when a purchase requisition has been paid and is now displayed as an actual debit.

Encumbered Total Amount

The encumbrance difference between the debits and credits for that period

Over/Under Amount

The amount over or under the respective budget category. This will help determine whether each specific account is favorable (positive) or unfavorable (negative).

Percentage Remaining (only on the Budget to Actuals by Fiscal Year Report)

The Over/Under amount divided by the Budgeted Total Amount. This will display the percentage of the budgeted amount remaining for the Fiscal year up to the actuals through period.

 

A picture containing shapeDescription automatically generated  

Over/Under Amount for Budget to Actuals by Period: Please note that the amounts in the over/under amount column are cumulative for the period NOT the entire fiscal year.

 

 

 

 

This completes the Budget to Actuals by Period and the Budget to Actuals by Fiscal Year Reports Processes.

 

Details

Details

Article ID: 137850
Created
Tue 2/1/22 6:24 PM
Modified
Tue 10/31/23 5:04 PM