Budget period cycle

Open a budget period, plan lines, post expenses against those lines, then review variance before closing the period.

Steps

1. Budget periods - Budget periods
   • Create or open the period and mark it active/open.
   • Tip: expenses posted outside an open period will not land cleanly on variance reports.

2. Budget lines - Budget lines
   • Add lines (categories/amounts) for the open period.
   • Tip: lines must exist before expense posting. Mirror how the school actually spends (departments, projects).

3. Budget expenses - Budget expenses
   • Post expenses against the correct line with date and reference.
   • Tip: wrong line selection is the usual cause of "mystery" variance.

4. Budget variance - Budget variance
   • Compare plan vs actual for the period; investigate overruns.
   • Tip: start from the Budget dashboard for a period overview, then drill into variance.

Role handoff

Finance opens the period, plans lines, posts expenses, and reviews variance. Admin may view Stores & Budget for oversight. Teachers do not post budget expenses.

Common mistakes

• Expenses outside an open budget period
• Posting to the wrong budget line
• Reviewing variance for the wrong period filter
• Closing a period while pending expenses remain

Related

• Stores and budget
• Budget
• Budget periods
• Budget lines
• Budget expenses
• Budget variance