In NetSuite, each budget covers a year and provides entry of an amount per account for each accounting period in a year. Many customers prefer to use Excel for budgeting to take advantage of formulas and the speed of data entry. With CloudExtend, you can create and edit your budgets in Excel and then push them back to NetSuite. You can create budgets for specific:
Customers or Projects
Items
Classes
Departments
Locations
💡 Note: Creating budgets using a combination of the criteria above is also an option.
This video will cover the following topics:
Template Layout
NetSuite Path: Transactions > Financial > Set Up Budgets
Year
Budget Type
Budget Category - Assigning budgets to different categories enables you to create different budgets for the same set of class, department, or location criteria
Customer (optional)
Account
Period Amount - you can add the period of months you want to allocate the budget until Period Amount 12
💡 Note: You may add customers or projects, items, departments, classes, or locations. These are optional header fields that you can use to create specific criteria in a budget.
How to Enter a Budget
Step 1: Choose the Budget Year, Budget Type, Budget Category, and Customer. Complete the other fields necessary.
Step 2: Go to the Account Type field and select the account you want to add the budget. In this example, budget will be added to the following accounts:
Automobile Expense
Sales - Merchandise
Sales - Service
Step 3: Fill in the amount fields then Upsert records. Noticed that this created a different internal id for each account.
Though, we recommend starting with a previous budget record to get a head start on data entry. It will save a ton of time! See this section!
How to Add an Account to an existing Budget Record
Step 1: In the CloudExtend application, click Download and create a filter based on the record criteria to be pulled. See sample below:
Press Save and Download.
Step 2: Copy the header level values and repeat depending on how many lines you want to add to the budget record.
Step 3: Add the new accounts and add the amount values. Hit Upload to NetSuite, and click Upload Records. New lines will be appended to the existing Budget record.
How to Create Multiple Budgets for the Same Year
You can create a budget for the same year with a different category.
Use the data filter to retrieve the budget you want to copy. For this example:
Set Year = FY 2022
Category = Legacy
Customer = Blue Street Liquor Store
Step 1: In the CloudExtend application, click Reload Record then enable:
Download Again
Apply Filters
and select Using Rules, to allow you to create a filter based on the record criteria to be pulled.
See the sample below:
Press Save. Select the filter and Click Download with Filters.
Step 2: Update the Category field and clear out the internal ID.
Once data is downloaded, clear out the internal IDs. You change the year and other header-level fields and remove accounts or adjust amounts then push it back to NetSuite as a new budget record.
💡 Note: If you leave the internal Id's and push the data back it will update your existing budget record.
How to Update Budget Record
Step 1: Get the internal Id of the account to be updated and paste it into the internal ID field CloudExtend template.
Step 2: Click Reload Records to pull the current data from NetSuite and validate the values.
Step 3: Update the amount then hit Update to NetSuite to send the changes to NetSuite.
How to Delete Budget Records
Step 1: Get the internal Id of the account to be deleted and paste it into the internal ID field CloudExtend template.
Step 2: Click Reload Records to pull the current data from NetSuite and validate the values.
Step 3: Select Delete from NetSuite then Delete Records.
⚠️ Tip: When deleting records, save a copy of the file. This will be helpful if you need to create the record due to erroneous deletion.