Manage financial budgets

Overview: Analytics allows operation managers to manage and analyze financial budgets for the selected year to plan and optimize resources effectively.

Start from: The Analytics dashboard.

Financial Budgets

The Budget sub-module within Financial Statements enables detailed financial control, allowing you to break down budgets by specific work centers and compare them with actual performance data.

Key benefits of this module

• Detailed Financial Control: Provides a clear view of annual and monthly budgets, helping with strategic planning and resource optimization.

• Analysis by Work Center: Enables customized budget analysis for each business unit, ensuring decisions are tailored to specific operational needs.

• Identification of Deviations: By comparing budgeted versus actual results, managers can quickly detect anomalies and take corrective action when necessary.

Analyze Financial Budgets

Set up the grid

• Navigate to Financial Statements > Budgets.

• Select the Budget you want to see.

• Choose the Year for analysis (e.g., 2025).

• Define the Financial statement to view.

• Select the View:

  • Financial Statement for a Business Unit

  • Account by Business Unit

• Press Accept.

• Next, specify the Business Unit to analyze from the dropdown menu.

View the grid

Once the parameters are set, the system presents a structured financial grid with:

• First Column: Financial Categories

  • Includes Net Sales, Raw Materials Consumption, Personnel Costs, and more.

  • Some categories are collapsible, revealing subcategories (e.g., Food Purchases, Wages, Temporary Employment).

• Second Column: Annual Totals

  • Displays total budgeted values for the entire year.

• Third+ Columns: Monthly Breakdown (January - December)

  • Provides a month-by-month breakdown of budgeted values.

  • Helps track financial performance trends over time.

Grid actions

In the Financial Statements Budgets grid, users can perform various actions to refine their analysis:

• Modify Parameters:

  • Click on the Budget Name to reset initial parameters.

  • Select a different Business Unit from the Unit dropdown.

  • Filter by specific Groups for a more granular analysis.

• Switch Between Data Modes:

  • View either actual data or hypothetical projections.

  • In Hypothesis mode, users can add and edit values to test different financial scenarios.

• Additional Options (Top Menu):

  • Download XLS templates to import budgets.

  • Import Budgets from external sources.

  • Export Budgets for external reporting.

  • View Global Projections for high-level financial forecasting.