End of Year - Setting up Budgets for the new financial year

In this example we are taking the 2014 budget and creating the 2015 budget.

Go to Administration > Budgets

Beside your 2014  Budget, click on the dropdown beside Action and select Duplicate.

This process is going to create a new Budget and all the attached Funds so answer the questions.

Enter the dates for the Start and End of your financial period.

Name the new budget, we recommend putting the Financial Year at the start of the Budget Name so it is easily seen.

If you want to carry forward the Fund Allocation amounts as they are, leave the next two boxes empty, otherwise enter the percentage increase or decrease that you want to apply to each Fund Allocation and specify the rounding multiple (Nearest Euro or ten Euro etc).  For example if you wanted to increase your funds by 10% but have all allocations in euro with no cent, then beside Change amounts by enter 10 and beside If amounts changed, round to a multiple of enter 1.00

Tick the box to Mark the original budget as inactive so that it is not used again when placing new orders.

If you want to set all the new Funds with a zero Fund Allocation tick the box marked  Set all funds to zero.

Press Save Changes and your new budget and associated funds are now ready to use.

If you want to make any further adjustments to the Fund Allocations for the new financial year, or to create any new Funds or delete any Funds go to the (new) 2015 Library Budget and make the changes there.

If you want to move unreceived orders and/or unspent funds from the old budget to the new budget then you must Close the old budget.  Go back to the Acquisitions home page and find the old budget with unreceived orders on the Active budgets or the Inactive budgets tab and select Close under Actions.

Note :  In order for the unreceived orders to be automatically moved to the new budget, the fund structures in the previous budget must exist in the new budget. Budgets without unreceived orders cannot be closed.

When you select Close you will be presented with a form.

Use the Select a budget drop down to choose the new budget for the unreceived orders.

If you are allowed to roll unspent amounts forward, check the box for Move remaining unspent funds to move the unspent amounts from the funds of the budget being closed to the selected budget.

Once you have made your choices, click the Move unreceived orders button. You will be presented with a dialog box that says You have chosen to move all unreceived orders from 'Budget X' to 'Budget Y'. This action cannot be reversed. Do you wish to continue? Budget X is the budget to be closed and Budget Y is the selected budget.

If everything is correct click OK and the unreceived orders and, if selected, unspent funds will be moved.

Wait until the Report after moving unreceived orders from budget X to Y displays. This will list the order numbers which have been impacted (grouped by fund) and detail if the unreceived order was moved or if there was a problem. For example, if the new budget does not contain a fund with the same name as the previous budget, the order will not be moved.

If you don’t move your unreceived orders from the old budget to the new budget the system will assume that you are going to pay for these orders from the old budget.  When you receive these orders the fund is displayed but if you want to change to the fund for the new year just click the dropdown option beside the fund and select the new fund from the list offered.