Last updated: June 2, 2021
Deciding on how to build your budget is usually a cumbersome task. With the Sage Intacct integration from Budgeting and Planning, however, setting up your budget just became a whole lot easier. The option to Use my Sage Intacct data to build your budget:
Retrieves actuals and budget data from Intacct to populate your budget.
Retrieves your chart of accounts, dimensions, and employee data from Sage Intacct.
Helps you organize the data into a budget structure, based on how you plan to manage your budget, share it with budget owners (for example, by location and/or department), as well as the specific budget lines that you want to see for revenues and expenses.
To build a budget based on your data from Sage Intacct:
💡 Before you begin integrating with Sage Intacct, see how to Integrate with Sage Intacct to get details on how to configure the integration, the required user permissions, and what data is shared.
1. Select + New budget from the main menu. The new budget wizard is displayed.
2. Select Use my Sage Intacct data and click Next.
3. Enter your Company ID, User ID, and Password that you created after signing up in Sage Intacct. Click Next.
4. If your Sage Intacct company has multiple entities, you can choose to build a budget for all of the entities, or select a single entity from the dropdown and build a budget for the selected entity. Click Next.
5. Add basic information about your new budget:
Budget type (company or nonprofit)
Date range (start and end dates)
📝 If you are working with multi-entity companies and, in the previous step, selected to create a budget for a single entity, the name of the entity appears automatically in the Budget name field.
6. Select the dimensions to import from Intacct that you want to use in your budget. Next to each dimension you select, a list of all the available dimension values is displayed. You can either import the entire list or select specific values that you need for your budget. The Intacct ID appears in parenthesis next to each dimension value.
An indicator next to the dimension name shows the number of dimension values you’ve selected from the number of available values.
💡 Keep in mind that in certain scenarios adding unneeded multiple dimensions can add to the budget calculation times. The recommended limit is up to 2000 dimension values per dimension. If you surpass this limit, the options for selection are grayed out.
📝 If you are working with multi-entity companies, the Location dimension is required and is automatically selected.
7. To manage your headcount and salary budget, you can add all of the active employee details; such as: names, roles, IDs, dimensions, employee start and end dates, and salaries. Based on your employee plan, you can build other budget lines and financial models, like travel costs, equipment purchases, or sales commissions.
📝 Salaries imported from Intacct appear in Budgeting and Planning on a yearly basis.
If the employee data in Intacct is inaccurate or incomplete, you can skip this step and import your employee data from MS Excel, or enter it manually at a later time.
📝 Keep in mind, if you subscribe to Project Costing in Sage Intacct, you are most likely using the Cost Rate (for fully burdened costs) in your employee records to post to your labor costs. In this case, the Base Salary reflects the overall employee cost. For more information, see Getting started with employees.
📝 For multi-entity companies, employee data can only be imported from employee records that have a location defined. Otherwise, this step doesn't appear.
From the Import employees window, select whether or not you would like to import your employee record data and click Next.
8. You may be prompted to map your accounts if you have accounts in Intacct that currently don't have account categories assigned, or the accounts have missing categories.
📝 In this case, the Map your accounts window will appear as step 5 of the wizard and the following steps will appear consecutively. If this window is not displayed, Merge your accounts will be step 5, instead.
The account type is automatically assigned by Budgeting and Planning based on the account name recognition, but these may not always be accurate, so be sure to review.
From the Map your accounts window, review your accounts and modify the account type, if necessary, or leave the mapping as it appears. Click Next.
9. From the Merge your accounts window, you can lump your accounts into a new or existing budget line. For example, if you have multiple accounts for travel, you may want to merge them into one budget line called Travel. Simply select the accounts you want to merge, type in the name for the new budget line or select an existing budget line, and click Apply. When you're finished, click Next.
💡 Keep in mind that if you export your budget back to Intacct, the merged accounts appear on separate budget lines and the budget amount is divided equally between all the accounts assigned to the budget line.
10. Move on to set up your budget structure hierarchy. Displayed on the left side of the Your budget structure window are all of the dimensions (parent) and sub-dimensions (child) available in Intacct to use in your budget structure. If there are multiple sub-dimensions, the sub-dimensions appear as Dimension > Sub-dimension > Sub-dimension 2.
As you hover on the information tooltip, a popup displays the list of available dimension values for the selected dimensions and sub-dimensions that you can choose from.
On the right side of the window, a preview of your budget structure is displayed and adjusts as you drag and drop dimensions. You can easily drag a dimension and drop it under the desired budget line group in your budget structure. Additionally, you may want to drop a dimension under the top level to create your entire budget structure by a specific dimension, for example, by Locations.
You can add up to four dimensions in a hierarchical fashion per budget group (Revenues, Cost of Revenue, Operating Expenses, or Other), or up to four dimensions at the top level. Alternatively, you can add a combination of dimensions at the top level and per budget group.
📝 Once a dimension is assigned at the top level, the same dimension can’t be used twice and can no longer be used in a budget group hierarchy. For example, you can’t build your company budget by Location, and then build your budget groups within the company by Location again. You can, however, use the Sub-location dimension in the budget group level, if one exists.
The number of budget lines is displayed for each budget group (Revenues, Cost of Revenues, Operating Expenses, or Other) and the total amount in your budget is displayed at the bottom. The maximum recommended budget size is approximately 3000 budget lines. Larger budgets may cause performance issues.
💡 When you plan your budget structure in Budgeting and Planning, it is best practice to create a budget that reflects your company's management structure, or the budget ownership structure. Align with the actuals or budget data from Intacct. If your company manages its Revenues by Department, and each department manager needs to see the revenues for their department, the best approach is to group your revenues by department, which later allows you to easily share the data with the relevant manager. If, however, you group your Revenues by Department, but the revenue data in Intacct is only by Location, this will result in blank budget lines.
11. Select Yes if you'd like to populate your budget with data from actuals or existing budgets from Intacct, or both.
12. From the next window, you can decide which data to use to populate your budget. Select the fiscal year from which you want to import data. Then simply slide the divider left or right to select from which months you want to import actuals and from which to import budget data.
📝If you previously chose to import employee record data, the salary and wages accounts won't be populated with actuals and/or budget data. Instead, it will be with the employee data that appears in Intacct.
13. Data can be populated from any reporting book that exists in Intacct. The Reporting book field automatically displays the default reporting book used by your company. If you prefer to populate data from a different reporting book, you can overwrite this value, or choose No book and select an additional reporting book (or books) from the Additional books dropdown.
14. If you choose to populate your budget based on budgets from Intacct, select the Budget version from the dropdown and click Next.
15. Set the year-over-year (YoY) percentage change (increase or decrease) of your actuals or budget amounts to populate your budget.
16. In the Modify your budget structure window, you can modify your budget structure by removing any of the unnecessary budget lines, groups, or levels. The total number of budget lines that appear in your budget structure is displayed at the bottom, and you can use these totals to help you decide whether or not you want, or need, to remove these budget lines.
In addition, you can see the hierarchical data you selected to populate your budget, and you can choose to expand or collapse this view.
Budget levels or budget lines that have no past actuals are removed automatically. Selected by default, the option to Remove all lines without past actuals displays the total number of budget lines with no past actuals. If the budget lines don't have actuals data for the most recent 12-month period prior to the start of the budget, then they are removed from your budget structure and appear crossed out. Automatically removing budget lines with no past actuals has no influence on your ability to manually select additional lines to remove.
For example, let's say you've grouped your expenses by department and you have an account for commissions. There may be departments that don't work with commissions and the past actuals, therefore, have a zero amount. In this case, the budget line is unnecessary and can be removed from your budget structure. If you change your mind, simply revert your selection.
17. To view the list of transactions with data that won't be included in your budget, click Download the list. The downloaded Excel file displays the data from Intacct based on the data you chose to populate your budget, but that did not match your budget and dimensional hierarchy. For instance, if you created your budget for a single entity rather than for all of the entities in your company, the displayed data is relevant only for the selected entity.
The Source column represents whether the data from Intacct is retrieved from the budget amount data or from the actuals amount data for the reporting period.
In addition, click read why this is happening for more information on importing data to parent budget groups of your budget hierarchy when you create a budget using data from Intacct.
Click Finish to continue.
18. Your budget is now ready (with confetti and all) and you can get started working!
What to do next
Other than the budget type, you can modify your budget structure at any time from the Sage Intacct Budgeting and Planning application. You can add or delete budget lines, create groups of budget lines, and so on.
📝 Extensive changes to the budget structure, however, do require that you manually update the mapping from Sage Intacct Budgeting and Planning to Sage Intacct. This can be done from Actuals > Mapping.
Once you have finished setting up your budget structure, you can now begin entering your budget data.