Budget Maestro FAQs

 
How does Budget Maestro improve my budgeting process?
Unlike the rigid spreadsheet environment, Budget Maestro utilizes database technology to instantly update and reflect changes to the data, provides a consistent, extremely easy to use interface to quick, accurate data entry (no formulas or macros), automates consolidation, dynamically builds financial statements and provides multi-level security. Less time is spent on data collection and verification and more time on analysis and strategy.

What are the differences between Desktop, Small Business and Enterprise?
The Desktop edition is a single-user license ideal for the CFO or Controller who does all the work to prepare the company’s budget. The Small Business and Enterprise editions add multi-level security, multi-user support, unlimited scenarios, and includes user definable revenue recognition and asset depreciation scheduling.

Does Budget Maestro operate in a network environment?
Yes, the Small Business and Enterprise editions operate in a network environment, allowing easy collaboration in budgeting and financial management. These editions of Budget Maestro are built on Microsoft SQL Server technology.

Can I access my budget information over the Web?
The Enterprise edition of the budgeting software is web-enabled, and can be accessed from any PC with a web browser. Some additional software may be required.

How much time does it take to implement?
Budget Maestro software is an out-of-the-box budgeting software solution providing you the speed and ease to be up and running the same day you install the software. If you are comfortable with a Windows environment and have all your fundamental budget information ready, you can build your budget in a day, instead of weeks or months.

Is Budget Maestro designed for manufacturing?
Budget Maestro is very flexible and can handle many business environments including service industries, wholesale, retail, high tech, non-profit, government and manufacturing. A manufacturing-specific module is available.

How much detail do I have to put in my budget?
That’s up to you. Budget Maestro is flexible enough to allow you to enter as detailed or as global information as you want.

Can Budget Maestro link to my G/L system?
Yes! Budget Maestro software can easily import and export data from just about any G/L or database system that has the ability to export data to an Excel or ASCII formatted file, including data from mainframe and Unix/Linux based systems.

How do I import information into Budget Maestro?
Budget Maestro budgeting software can import from any general accounting package that can export to Excel. An easy-to-use wizard interface guides you through the entire import process.

Can I re-import data into my accounting package?
Yes.

Can I bring in my starting balances?
Yes.

How many years can I forecast?
With the standard version, you can forecast up to 5 years (monthly). An Extended Period Pack is available as an add-on to extend forecasting up to 15 years.

How does Budget Maestro handle historical data?
Budget Maestro budgeting software allows you to maintain 2 years of historical data (monthly). An Extended Period Pack is available as an add-on that allows 5 years of historical data.

How do I collect and distribute our managers’ budget information?
The Small Business and Enterprise editions allow managers to enter their information directly into Budget Maestro through a network, remotely or via the web. The simple user interface enables them to do this with little or no accounting expertise or training.

Do I have to involve my IT department?
The Small Business and Enterprise editions may require limited IT support for set-up.

How do I get Financial Statements?
Budget Maestro dynamically builds all your reports in real-time. If your data changes just re-run the report. All reports can be customized to meet your drill-down needs.

Can I generate Budget to Actual comparisons (variance reports)?
All editions of the Budget Maestro software allow comparisons of any two scenarios including Budget to Actual.

Can I calculate payroll and related expenses?
Budget Maestro dynamically calculates all salary and salary-related expenses. You can enter/import information on the employee level or on a global level. Hourly employee salaries can be automatically calculated with user-definable overtime and shift-differential defaults.

Can Budget Maestro generate a headcount report?
Yes. Budget Maestro automatically generates a detailed FTE report based on any combination of user-defined criteria. You can easily see all the existing employees, new hires, and terminations through the drill down feature.

Can Budget Maestro calculate sales commissions?
Yes.

Can I build "What-If" Scenarios?
Yes! You can create "What-if" Scenarios on the fly. Budget Maestro's powerful "What-if" feature enables managers to easily look into the future. Managers can dynamically make adjustments and instantly view results, to avoid hidden pitfalls and take advantage of potential opportunities.

Can I reforecast?
Yes. Budget Maestro budgeting software allows you to forecast and reforecast for an unlimited number of scenarios and save each scenario.

Can I have a fiscal year other than calendar?
Yes. Your fiscal year can start in any month.

Can I do auto spread of annual values?
Budget Maestro has several built-in spreads or you can custom create any spread you need.

What are the balance sheet adjustment capabilities?
Budget Maestro automatically handles all the double entry adjustments providing you with a full audit trail of all the supporting transactions.

Can I archive last year’s budget?
Budget Maestro’s Auto-Archiving technology automatically updates your historical data as you move forward in your forecast.

What methods of forecasting does Budget Maestro support?
Budget Maestro supports zero-based, accrual and cash-based budgeting.

How can I allocate my expenses?
Budget Maestro allows top-down and bottom-up allocation of expenses.

How easily can I consolidate my budgets?
Through a simple point and click selection, Budget Maestro will automatically roll up any number or combination of budgets, regardless of their inherent differences, into a unified report with supporting balance sheet, income and cash flow statements. This is standard in all editions.

Does Budget Maestro handle project budgeting?
Yes.

Does Budget Maestro support deferred revenue?
Yes, in the Small Business and Enterprise editions only. Budget Maestro supports user-definable revenue recognition schedules that are specific to your business.

Does Budget Maestro forecast inventory?
Budget Maestro can forecast all of your finished goods and/or component inventory at the line level, including auto-ordering at preset levels. Management reporting provides a detailed listing of all the items required at any period of time.

What platforms does Budget Maestro run on?
Budget Maestro 5.8 software runs on Windows 2000, Windows XP, Windows Vista and Windows Server 2003.

How many users can I have?
The Desktop edition is a single-user license, Small Business edition can support 1 to 5 users and the Enterprise edition supports an unlimited number of users.

What kind of security does Budget Maestro have?
Each person licensed to use Budget Maestro software is assigned a unique username and password, and is granted permission to see only those assumptions you want them to see and only those departments you want them to work in. For instance, you can allow managers to see the revenues and expenses for their departments but not sensitive personnel information.

What’s included in your maintenance program?
With a service agreement you have access to a wide range of support options to make sure your software always run smoothly. You can use our online help system and product updates, as well as email and telephone technical support from our Customer Support Center.
 
 
 
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