Business Budget Management - Smartsheet Inc.

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Business BudgetManagementTemplate Set Getting Started GuideThe Business Budget Management template set helps youtrack monthly actuals against budget goals so you cantightly manage your financial performance and ensure yourbusiness stay on track. 2018 - 2019. All Rights Reserved.Smartsheet Inc. Patents and Patents Pending.smartsheet.comLast Updated: August 31, 20191

Page2Business Budget ManagementTemplate Set Getting Started GuideREQUIREMENTS: This template set has been designed to utilize the full suite of functionality available in Smartsheet. Select plans donot have access to all premium features like Dashboards, Automated Actions, and Activity Log. If you are on a limited plan you can stilluse the template set however not all premium functionality will be available. Click here to see a list of discontinued plans.Get the Template SetThe data will be download in the Sheets folder - look on the lefthand side under sheets.Business Budget Management Template SetWhat’s Included in the SetThe Business Budget Management template set helps you track monthly actuals against budget goals soyou can tightly manage your financial performance and ensure your business stay on track.FY Actuals ReportA live filtered view that displays alldepartment financial records.FY Actuals SheetA central repository where thecost actuals across all of thegeneral ledgers are rolled-up.General Ledger Sheet (x12)A sheet where you enter monthlyactuals and track against yourbudget goals.Business Budget Overview DashboardThe one-stop-shop for stakeholders to get a quickglance at the business financial health.

PageBusiness Budget ManagementTemplate Set Getting Started GuideSet UpUsing a workspace is a best practice when building a collaborative process. Workspaces allow you to centralize your workand control sharing with different stakeholders.Step 1:Create a New WorkspaceOpen Home. From the home menu, click the Create button in theupper right hand corner. From the drop-down menu, selectWorkspace. Name the workspace.Learn more:Workspaces Overview, Workspace Sharing, Home TabStep 2:Drag the Files into WorkspaceSelect the template set folder under your Sheets folder. Drag anddrop the folder down to the workspace you just created.Learn more:Manage Items in a Workspace (Add, Move, Remove)3

PageBusiness Budget ManagementTemplate Set Getting Started GuideCustomizeStep 3:Update Business Budget Overview DashboardThe Business Budget Overview dashboard provides accurate, real-time overview of your business budget ata glance. Dashboard consists of different widgets that pull in live information from other sheets and reports.A.Edit the Title widget with your company name.B.Total Costs is a Metric widget that pulls in live values from the FY Actuals sheet.C.FY Actuals and Budget Progress are Chart widgets that creates a column and semi-circle chartsfrom formulas in the FY Actuals sheet.D.Key Resources is a Shortcut widget with links to other sheets, folders, and workspaces. Add inyour workspace you created for this template set and add other shortcuts to centralize yourimportant budget documents in one location.E.Actuals by Department is a Report widget that displays the live FY Actuals report in thedashboard.ABDCELearn more:Make Changes to an Existing Dashboard, Viewing and Sharing a Dashboard, Widget Types for Smartsheet Dashboards, Metric Widgets, ChartWidgets4

PageBusiness Budget ManagementTemplate Set Getting Started GuideStep 4:Use the General Ledger Sheet (x12)Use the General Ledger sheet to track your monthly budget and actual costs in each department.Departments are separated into sections by hierarchies. Within each section are the categories for thedepartment. The formulas built in this sheet help you calculate the difference between budget and actualswhile other formulas automatically surface the final actuals as soon as it has been approved by the CFO.A.Modify each section in blue for your departments in your business.B.Month to Date Budget vs Actual calculates the difference between budget and actuals. There areformulas already embedded in the parent (dark gray and blue) rows. Columns and rows withformulas are locked so that editors cannot change the formulas.C.Check the box in the Send for Approval column to automatically send the CFO an approval requestto review and approve the actual cost. The CFO Approved column will automatically change toSubmitted when that request has been sent.D.Final Actual also has a formula that automatically surfaces the actual cost from the Month to DateActual column when the CFO Approved column changes to Approved. This is the formula: IF([CFOApproved]4 "Approved", [Month to Date Actual]4)BACDLearn more:Apply Formatting Automatically with Conditional Formatting Rules, Notifications: Keep Track of Sheet Changes, Control Who Can Receive Notificationsfrom Your Sheet, Contact List, Managing Contacts, Creating an Auto-Number Column5

Page6Business Budget ManagementTemplate Set Getting Started GuideStep 5:Modify the CFO Approval RequestAn automatic approval request workflow has been setup on the General Ledger sheets to expedite approval ofactual costs. When “Send for Approval” is selected from the dropdown menu in the CFO Approved column, anapproval request is sent to the CFO listed in the automated workflow right away.A.Modify the automated workflow by clickingon Automation and select Manage Workflow inthe dropdown menu.B.Then, double-click on the CFO ApprovalRequest workflow to edit its criteria.C.Insert an email address in the Send anapproval request to Shared user or email.Learn more:Approval Request: Automatically Request Sign-Off on Work Items, Save Time and Work Faster With Automated WorkflowsStep 6:View Accounts to be Approved or Rejected Accounts with FiltersFilters are a great way to restrict views to the information you want to see on a sheet. The General Ledger sheetshave filters called Accounts to Approve and Rejected Accounts.A.B.Click on the Account to Approve filter to see rowsthat have pending approval requests or theRejected Accounts to see rows that have beenrejected.Selecting the filter will also prompt you with severaloptions under the filter.a.b.c.d.New FilterEdit Current FilterDuplicate Current FilterDelete Current FilterLearn more:Use Filters to Show or Hide Sheet Data, Naming a Filter to Save or ShareAB

Page7Business Budget ManagementTemplate Set Getting Started GuideStep 7:Sheet Bonus: View or Edit Your Project Summary DataFor those with a Business or Enterprise plan, this template set utilizes the sheet summary feature. Both GeneralLedger sheets include a pre-populated sheet summary that provides a standard, robust way to organize andreport on project information in your sheet. Here you can see a quick recap of budget versus actuals informationand CFO approval status. Open the sheet summary on the right panel to view or edit your project summary fields.You can use formulas and reference another summary fields.A.Click the sheet summary icon to expand the sheet summary. You can expand and collapse the right panelto stay in the context of your sheet or maximize your sheet real estate when you don’t need to view it.B.To add fields, click New Field.C.Name your field and select the field type: Text/Number, Contact list, Date, Dropdown list, Checkbox, orSymbols.D.To edit the field properties, hover over the right side of the field and click on the vertical ellipsis ( ) to openthe field options dropdown menu.ABLearn more:Define Your Work with Sheet Summary, Maximize Your Sheet Summary Usage, Create a Portfolio View with a Summary Report

PageBusiness Budget ManagementTemplate Set Getting Started GuideStep 8:Manage FY ActualsThe FY Actuals sheet is a central repository where you can roll-up the total actuals across all of the monthlygeneral ledgers . You can track and compare the total budget and actuals to make any necessary adjustmentsbefore year end. We’ve designed this sheet with cross-sheet formulas so the metrics always reflect, inreal-time, the information in the underlying sheets.A.Row one are hyperlinks to the respective month’s General Ledger sheet for quick, easy access.B.Overwrite the departments under each section to match the departments in the general ledgers.Replace the account codes for each department.C.If you add new departments in the General Ledger sheets, insert a new row and copy the formula.The formulas will automatically recognize the account code you enter in the new row.D.Note that the cross-sheet formula in the January column references the General Ledger (01-January)sheet and the formula in the February column references the General Ledger (02-February) sheet,and so on, through December’s General Ledger.ABCLearn more:Cross-sheet Formulas, Create a Hyperlink to a Sheet, Report, or Website8

PageBusiness Budget ManagementTemplate Set Getting Started GuideStep 9:Manage the FY Actuals ReportThe FY Actuals report is used to surface a table to the Business Budget Overview via the Report widget.The Report Builder filters all rows that have an account code to only show the department financialrecords and a summary across all departments.Learn more:Build a ReportStep 10:Customize the DashboardProvide a central location for your stakeholders to get a quick summary of your business financial health.Easily customize the dashboard to include your financial resources by editing Key Resources in the Shortcutwidget.A.Click Edit, to start editing the dashboard.B.Hover over the “Key Resources” widget and awidget options menu will appear at the bottomright corner.C.Click Edit (pencil icon) to add and removeshortcuts.Learn more:Make Changes to an Existing DashboardABC9

PageBusiness Budget ManagementTemplate Set Getting Started GuideStep 11:Share Your Business Budget Management Template SetSharing is the best way to collaborate with others involved inyour budget management process. You can share yourentire workspace with key stakeholders, or you simply shareindividual items within the workspace. For more informationon sharing and permission levels, check out this infographic.Learn more:Workspace SharingFEEDBACK: Let us know what you think of the Business Budget Management Template Set! Share your feedback here.10

Aug 31, 2019 · Business Budget Management Page Template Set Getting Started Guide Step 11: Share Your Business Budget Management Template Set Learn more: Workspace Sharing Sharing is the best way to collaborate with others involved in your budget management process. You can share your en

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