In implementation and we are trying to figure out how to load multiple budgets into Epicor, here is how our current software handles it and the scenario.
Before each year begins we develop the next years budget, this budget is entered into the software and provided to our banks. However if there are changes in the market we need to adjust our budget but the bank does not allow us to change the budget with them. So we need to be able to report against both budgets.
Our current software allows for at least 2 budgets to be entered, called 'Standard' and 'Future.' Future would be the modified budget that we measure our business by. Standard is the bank budget that we measure our business by in terms of bank covenants.
Our consultant is saying that Epicor does not support that exact functionality. I was thinking it could be accomplished with Multiple Books, but I didn't know if that added another layer of complexity and maintenance, like monthly journal entries would have to be done twice,etc.
How are others accomplishing this?
-Rick Bird
IT Software Administrator
Rowmark, LLC
9.05.700B2
Before each year begins we develop the next years budget, this budget is entered into the software and provided to our banks. However if there are changes in the market we need to adjust our budget but the bank does not allow us to change the budget with them. So we need to be able to report against both budgets.
Our current software allows for at least 2 budgets to be entered, called 'Standard' and 'Future.' Future would be the modified budget that we measure our business by. Standard is the bank budget that we measure our business by in terms of bank covenants.
Our consultant is saying that Epicor does not support that exact functionality. I was thinking it could be accomplished with Multiple Books, but I didn't know if that added another layer of complexity and maintenance, like monthly journal entries would have to be done twice,etc.
How are others accomplishing this?
-Rick Bird
IT Software Administrator
Rowmark, LLC
9.05.700B2