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How do I roll a budget over from one fiscal year to another?

This article detail how to extend a budget and how to roll budgets over from one fiscal year to another fiscal year.

 

What does it mean to "roll a budget over" or "extend a budget"?

Rolling a budget over refers to moving budget allocations from one fiscal year to another. You can do this for individual budgets, using the Extend Budget option, or all budgets with the same fiscal year, using the Budget Rollover Tool.

Extending a budget can mean adding new vendors, adding new matter types, and adjusting allocations for an existing vendor or matter type.

 

Benefits of extending individual budgets

Using the Extend Budget options on individual gives you more control over the details within the budget. Meaning, you will have the freedom to add new vendors, adjust allocations, and edit template types. 

The Extend Budget feature is available on single matter budgets and multi-matter budgets. 

Using this feature resets all allocations to zero, so you are required to enter new budget allocations for each new year or new vendor.

 

Benefits of the Budget Rollover Tool

The biggest benefit of using this tool is saving time. The budget rollover tool moves all budgets with a matching fiscal year to a new fiscal year in one fail swoop. 

You will not have the freedom to adjust allocations or add vendors in this tool.

 

 

Rolling over Individual Budgets

The term "rolling over" can mean several things. To roll a single matter budget over means to roll it over to a new fiscal year or add new vendors. To roll a multi-matter budget over means adding new matter types to the exiting fiscal year. Each process is detailed below.

Note: Some of the options below might appear differently depending on the Budget Template that is currently selected. In the example below 

 

Extend a Matter Budget 

  1. To edit the vendor or extend the fiscal year of a matter budget, start by navigating to the Budget tab within a matter and selecting the Extend Budget button.
    ExtendMatterBudget1.png
     
  2. There are 2 options in the Select Mode dropdown menu - choose the option that best meets your needs:

    Budget for New Year = create budget for new year and give it a new template (yearly, quarterly, monthly, etc.), as well as add new vendors+allocations.
    Edit Existing Budget = add new vendors to the budget and set allocations for the new vendors.

    ExtendMatterBudget2.png
     
  3. If Budget for new year was selected, choose a new template from the drop down menu and select a target year.
    ExtendMatterBudget3.png
     
  4. Select vendors to add to this new budget. You can select the existing vendor or add new vendors to the budget.
    ExtendMatterBudget4.png
     
  5. Enter the allocations for the new target year then click Finish. The adjusted budget will appear on the budget table.
    BudgetScreen_MultiYear.png

 

 

 

Extend a Multi-matter Budget

"Extending" a multi-matter budget simply means adding new Matter Types to the existing budget. This process is detailed below.

  1. To extend a multi-matter budget, start by navigating to the Budgets page and opening a multi-matter budget. Select Extend Budget.
    ExtendBudget_MultiMatter1.png

     
  2. Select the current fiscal year from the dropdown menu, then click Next.

     
  3. Check all of  the new matter types that you want added to this budget. Note that the existing matter types that are already applied to the budget will not show on this screen.
    ExtendBudget_MultiMatter2.png
     
  4. Enter the allocations for the new matter type and click Finish. The new matter types and allocations will appear in the budget screen.
     

 

Budget Rollover Tool

The budget rollover tool allows you to move all budgets (single matter and mult-matter) from a single year to a new year. If an individual budget has already been moved to a new FY it will not be included in the budget rollover tool.

Be certain you want to roll ALL same FY budgets over before using this tool.

 

  1. To open the budget rollover tool, select the Tools menu option and select Budget Rollover Tool.
    BudgetRollover_1.png
     
  2. Select a Prior Year and Target Year (these are Fiscal Years that are already imputed into your system by an administrator. If you don't see any options here, contact your admin).

    Click Start when you are ready to begin rolling the budgets over. 
    BudgetRollover_2.png

    Note: All budgets that are labeled with the Prior Year date will be moved over, regardless of their budget type or template.
     
  3. You will not receive any sort of pop-up or confirmation message. To view the status of the job, go back to the tools menu and select Budget Rollover Tool. You will see the information in the screen shot below once you re-launch the tool.
    BudgetRollover_3.png

 

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