Create a Budget Time Card

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Overview

Budget Time Cards allow you to create Time Cards with planned estimate hours for an employee based upon a Project/Project Task over a specified Time Card Period. 

When creating a Budget Time Card, keep the following points in mind: 

  • One or more Budget Time Cards per employee can be created for the same Time Card Period or for different Time Card Periods. You may wish to do this if you want different budgets recorded for different scenarios or forecasts. 
  • A Budget Time Card cannot be posted. Only Actual Time Cards can be posted. 

With Budget Time Cards created, you can run Accounting Reports to compare the data on Actual Time Cards against Budget Time Cards. This information might be helpful when running variance analyses or determining budget overruns.

Note: If you are currently using the Lightning UI, you may need to add the Type field to the Time Card detail page layout. For information about how to edit a page layout, refer to the Edit Page Layouts Manually article.

Note: If you are currently using the Classic UI, to use Budget Time Cards, switch to the Lightning UI.

Do you want to:

Create a Budget Time Card 

  1. Navigate to Accounting Home and click the Create Entries tab. Then, under the Expenses menu, click Time Cards.
  2. Click New.
  3. Enter the New Time Card information, which includes selecting Budget from the Type drop-down list to create a Budget Time Card.
    Note: Required fields display with a red asterisk.
    • Employee - Click in the Search People lookup field to search for the employee. Typically, this will be to search for your name as the employee. 
    • Time Card Period - Click in the Search Time Card Periods lookup field to search and select an available period. Otherwise, enter a new Time Card Period. 
    • Type - Actual or Budget. Select Budget to create a Budget Time Card. Multiple Budget Time Cards per employee can be created for the same Time Card Period. Only one Actual Time Card per employee can be included for a selected Time Card Period.
    • Posting Status - The default Posting Status is “Approved.” The default system status can be changed in your setups to default to a different Posting Status. 
      Note: With a Budget Time Card this field is not applicable. 
    • Ledger - The default ledger displays. Otherwise, if you have more than one ledger or the multi-ledger feature is enabled, you can select the appropriate ledger from the drop-down list.

      Budget_5.png
  4. Click Save. The new Budget Time Card record page displays. 
  5. Refer to the Enter a Time Card article to add Time Card Lines onto the new Budget Time Card. 
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Run a Comparison Report 

The Accounting Reports include comparison reports, which can be used to compare data results on Actual Time Cards to Budget Time Cards.

  1. Navigate to Accounting Home and click the Run Reports tab. Then, under the Custom menu, click Management Reports.
  2. Click All Folders and select Accounting Reports. 
  3. Select a comparison report from the list that displays, which include:
    • Time Card Budget v Actual Report (by Project)
    • Time Card Budget v Actual Report (by Project Task)
    • Time Card Budget v Actual Report (by Date)
    • Time Card Budget v Actual Report (by Period).

Note: You can select to display, modify, or remove the report chart. Use the Filter options to filter the report, as necessary. If you add/change filter data, run the report to view the data based upon your changes.

In the example below, “Time Card Budget v Actual (Period)” was the selected report. In viewing this report for the first employee, on the last time period, the “Actual” hours were 48, while the Budget hours were 43. This type of information might be helpful with future planning of estimate hours for employees.

Budget_2.png
Note: Click here to view the above image in full screen. 

From here, you can perform tasks such as Save the report data, Export it to a spreadsheet, or Subscribe to receive this report.

Budget_3a.png
Note: Click here to view the above image in full screen. 

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Title
Create a Budget Time Card
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ProjectsTime Cards
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