Budget period

One STD_BUDGET period for the year

In the ACTUALS ledger, the calendar year is split into 13 four week periods - Periods 1 to 13. Within the ESP Financials system at this time, the STD_BUDGET ledger has only one budget period covering the full calendar year, 1 January to 31 December - Period 1.

For example, a budget journal is processed in Period 5. Reports for Period 4 are then run and downloaded. The budget figures in these financial reports will reflect the budget journal processed in Period 5, as this is Period 1 for the budget ledger.

It is recommended that reports run in ESP Financials at the end of each period are downloaded on to a (backed up) hard drive within the budget unit's computer system. This ensures easy access to end of period reports, without having to re-run them through ESP Financials, and ensures the reports also reflect the budget at that time.