FYI - Comparing Non-Salary Planning Methods
Option 1 - Monthly Spreading for Non-Salary Method
*BEST for Initial Planning and may be sufficient for some keys*
· Simpler Data Entry - One annual estimate and entry per key at expense class and budget type in the Spreading Grid which populates the Monthly Grid
· Entered in the Spreading Grid and Maintained in the Monthly Grid
· Spreads planned expenses evenly over all months
· Ideal for situations where spending is relatively consistent through the year
· If not maintained, forecast is typically "smoother" due to the average spreading of expenses across the year, forecast may be off if funds are spent at a higher or lower rate than the even spread; the greater the difference of actuals to plan the further the forecast may be off.
· Less likely to require detailed maintenance on every account key; some planned expenses may need to be maintained at the month level as actuals and plan differ.
Option 2 - Monthly Planning for Non-Salary Method
* BEST for tweaking Initial planned expenses by month in account keys where a very accurate forecast is necessary*
· More Complex Data Entry - Monthly estimate and entry per key at expense class and budget type in Monthly Grid
· Entered and Maintained in the Monthly Grid
· Allows the user to estimate where expenses will actually fall
· If not maintained / updated the forecast can be significantly off if larger expenses occur in months other than anticipated
· A lot of effort to maintain, look at actuals each month and re-estimate expenses for future months in the fiscal year at expense class and budget type