What are some of the ways you have used Budget Cat...
# general
c
What are some of the ways you have used Budget Categories in a One World account using Multiple Budgets/Multiple Currencies? I get that each category I create is either Local currency or Global (the base currency of the parent) but how granular do you get? Any use cases?
k
Are you asking for ideas on how to use budget categories?
or are you asking to clarify how local vs global budgets work?
typically, I discourage use of Global budgets - as they can't be run accurately at the subsidiary level.
c
Just ideas but thank you for the feedback on global...so how would you look at a consolidated budget?
k
If you have no reason to use subsidiary level budgets - then you can get away with the more simple global budget.
Otherwise - budget at the subsidiary level using local
c
Got it
k
As far as ideas on category use - typically I see "budget" which doesn't change once established "forecast" and sometimes I see a "forecast + actuals" where they overwrite forecast with actuals as they close each month.
c
Oh I like it
thank you
b
If you use custom segments, there is an option to add those as additional dimensions in the budget record. Although this has some limitations as of now such as now being able to select the custom segment as a Column filter in the Budget vs. Actual report although it is selectable in other reports like Income Statement.