Updating the Previous Year's Actuals Budget

It can be useful to utilise the previous year’s actual figures for comparison purposes or to help create a new budget.

To do this you can create a budget based on the actuals from a previous financial year using the PYACTUALS budget.

Creating a Previous Year’s Actuals Budget

To create the Previous Year’s Actuals Budget, the time frame needs to be defined via the PYACTUALS key list. Once specified, a rule is run to generate the data and populate the budget.

  1. Select Maintenance, then select Budgets from the menu.

    The Budget Maintenance window is displayed with any existing budgets displayed in the left-hand panel. Check that the PYACTUALS budget code is displayed. If the PYACTUALS budget code is displayed, close the window and go to Step 3.

  2. If a PYACTUALS budget does not exist, on the Budget Maintenance window, select ADD NEW, then select BUDGET. A <New item> is displayed in the left-hand panel and automatically selected. Enter PYACTUALS in Budget and Previous Year Actuals in Title, then select SAVE.

  3. To define the time span for the PYACTUALS budget, select Maintenance, then select Keylists from the menu.

  4. The Keylist Maintenance window is displayed. Select PYACTUALS from the left-hand panel.

  5. Select COPYFROM from the PYACTUALS panel, then select EDIT. In Text, enter the financial year from which you want to copy the actuals.
    The year should be in the format that it appears in the Period Maintenance window YYYY/YY e.g. 2019/20. To check the year, select Maintenance, then select Periods from the menu. copyyear-from.png

  6. Select COPYTO from the PYACTUALS panel, thenenter the financials year to copy the actuals to in Text, e.g. 2020/21, then select SAVE, then select X to close the Keylist Maintenance window.

  7. Next, select Rules, then select Update PY Actuals Budget (Global) from the menu.

  8. The IRIS Financials - Run Rule dialog is displayed. Select Yes to confirm you want to run the rule. The IRIS Financials - Run Rule dialog displays the message that the rule is scheduled to run, select OK.