Budgeting with Period Allocation Keys in Dynamics AX 2009
Posted Friday, July 30th, 2010
This post will introduce the concept of period allocation keys, show how they are setup with the Period Allocation Key Wizard, and how they are integrated with the budget.
Budgeting is important because companies need to know their actual versus predicted forecasts for the year. Period allocation keys in Dynamics 2009 make the budgeting process easier by allowing users to create budget models that can be used over several budget time frames. Not only do period allocation keys duplicate the allocation data for multiple budgets, they can also help reflect fluctuations brought on by season.
AX 2009 utilizes a wizard to guide users through the setup of Period allocation keys. The Period Allocation Key Wizard is located at General Ledger>Setup>Periods>Period allocation keys>Wizard button.
The Allocation Form in the Period Allocation Key Wizard
The wizard will step through Allocation, Dimension, and Name forms. In the Allocation form, the user selects the time between periods and how long the periods will last. The Dimension form allows users to associate period allocations keys to certain financial dimensions. In the Name forms, users enter an identification key and name for the Period allocation key. Before completing the wizard, users are presented with an overview screen to review the Period allocation key setup and adjust the period allocation percentage if desired.
Period allocation keys can also be manually created or copied from existing keys. If users want to create a complex allocation key (one with widely varying period allocation percentages), they might find it easier to edit the percentage using the Period allocation keys lines form. This form is accessed via General Ledger>Setup>Periods>Period allocation keys>Lines button. The form offers a better view of the percentages and has a field with the remaining percentage to be used in the key. Keys that have been created with the Copy button can be edited in the same manner.
Once the Period allocation keys have been created, applying them to budgets is a snap. To apply Period allocation keys, select from General Ledger>Ledger budget>General tab.
Hopefully, you can begin using period allocation keys, improving you budgeting process, saving your company money, and saving yourself some time.
Tags: Budgeting, Forecasting, Period Allocation Keys
Posted in Financial
Mat Grisham
Consultant for Dynamics AX with I.B.I.S., Inc. specializing in Reporting and BI, BSME from Georgia Tech, Class of 2009
Need Expert Help With Dynamics AX?
Get the support you need to effectively manage your business.
Learn more about our Dynamics AX support options
