Budget to Actuals Fiscal Year Summary Report

Summary

This report provides a budget to actual fiscal year summary for organizations to show consumption 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

This report provides a budget to actual fiscal year summary for organizations to show consumption 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.

 

Step One

Navigating to the Reporting Table of Contents

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

Step Two

Running the Budget to Actuals Fiscal Year Summary Report

To run the Budget to Actuals Fiscal Year Summary Report:

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

  • The report page will open in a new tab.

 

Step Three

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 Actuals Through Period. It is 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. The actuals through period chosen will show the budget and actual amount during the Fiscal year up to that period.

  • After selecting desired prompts, click Apply.

 

  • The report will display the message “Report Completed” and will export automatically into Excel

 

 

Step Four

Interpreting the Columns in the Report

Budget lines always have default Expense Class of 001, and an organization’s actuals will show on a different line for all other expense class types with the same natural account.  

  • The following columns are included:

Column Name

Description

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).

Percent Remaining

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.

 

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

 

 

This completes the Running the Budget to Actuals Fiscal Year Summary Report Processes.

Details

Details

Article ID: 138708
Created
Thu 3/24/22 12:12 PM
Modified
Tue 10/31/23 5:06 PM