Vision 7.5: General Ledger Budget Improvements help better forecast revenue and expenses

Posted by Melissa Coffey on January 8, 2016

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A general ledger (GL) budget is an important tool to help monitor and control the financial operations of your business. It is your opportunity to forecast revenue and expenses for the upcoming year.

In Vision 7.5, we have made significant improvements to the GL budgets with the biggest improvement being a new GL budget approval process. You can create an approval process that starts with budgets created by your team or department leads and then create multiple tiers of approvals all the way up to the CFO/COO.


The approval process takes advantage of a new GL budget group application. Budget groups allow the approver to analyze multiple budgets within a single screen. Approvers can see how the revenue numbers are broken out across an entire region or entire company. If given security access, the approver can edit the individual budgets or reject and send back to have the edits done by the person who submitted.


In addition to the improvements around reviewing and approving budget, we have made several improvements for creating and tracking GL budgets.

Have you ever wanted to enter notes on changes made to budget part way through the year or share notes with someone who is reviewing or approving a budget? You can now enter notes on the budget to document any explanations that impact the entire budget or enter notes on a specific account. In addition, you now have greater flexibility in creating the initial budget by copying amounts from prior year actuals or multiple existing budgets.


Finally, rolling forecast reports can be a powerful tool for managing financial performance. The profit planning monitor has been enhanced to better support this functionality. Now, it is simple and intuitive to create a rolling forecast that spans future years. Saved reports can now be created to default to print actual or budget values in each column based on the current fiscal period.


If you are using Vision 7.5, now is the time to take advantage of the many new enhancements to General Ledger Budgeting.