new fiscal year budget

sherrie's Avatar


01 Jul, 2016 09:56 PM

I am on a 07/01 - 06/30 fiscal year. Budget, income and expenses are ready to close down for the year ending 06/30/2016. To start the budget entry for the year beginning 07/01/2016, do I edit the existing budget to show new dates and amounts, or do I create a new budget for the new year. I don't want to lose all existing entries, just update budget amounts for the new year, but I can't find any documentation that describes "rolling over" for the new budget amounts. Thank you for your help..

  1. 1 Posted by RobS on 08 Aug, 2016 05:46 PM

    RobS's Avatar

    As an MD user who uses budgets, my response would be that I set up a new budget for each financial year. Old budgets can still be referred to if necessary; the budgets have set date periods and will pick up appropriate transactions for that period, so all previous year budget detail is preserved as long as you don't delete the old budgets.

    When you refer to rolling over the budgets, I'm unclear whether part of your query relates to a wish to carry forward any underspends from the old year to the new.

    If so, I don't think MD allows this, but it would be possible to deal with it manually by adding any underspend to the amounts budgetted for the new year.

  2. 2 Posted by Sherrie Otte on 09 Aug, 2016 12:17 AM

    Sherrie Otte's Avatar

    Thank you for your help. I was worried that creating a new budget might overwrite or somehow mess up the previous one, but I made sure I had a good backup, and just gave it a shot. Worked well!


    I used a software program a bunch of years ago that would automatically roll forward the underspends, which was sometimes a good thing, sometimes not, and I was just wondering how MD handled this. But once again, a good backup and see how it works, and it did not mess with the underspends, which is what I had hoped for.


    Thanks for confirming what I had sort of figured out – makes me feel better about the whole process!

  3. System closed this discussion on 08 Nov, 2016 12:20 AM.

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