Create and manage budgets

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Learn how to create materials budgets and add funds in the Wise staff client.

Prior to end of the year you can prepare the budget structure for the following year for each budget method. This action can also be carried out after an annual closing.

Generate a budget

Each year, your library will need to generate a new budget structure in the Wise configuration manager.

In the Wise configuration manager, go to Order and link > Budgets > Budget entries.
At the top of the Budget Entries screen, click Budget Functions > Update budget structure, current or new year.
Select your Budget process and enter the year(s) the budget will span.
Click OK.

A new budget is generated for the system. You can also use this process to change or add partial budgets. To do this, leave the year field the same. The current budget year will be updated at all locations, as well as newly added branches that did not yet have a budget in place.

Add funds to your budget

Funds can be added to the budget from within the staff client or the Wise configuration manager.

Add funds via Wise configuration manager:

Navigate to Order and link > Budgets > Budget entries.
Click the Open button next to your library organization.
Click the Open button next to the branch to which you want to add funds. The Select year window opens.
Click Open next to the year to which you want to add funds.
Select the budget type and click Open.
In the top panel, click New. A budget screen opens.
Enter the Amount, Date, Description (optional), Invoice (optional) and Vendor (optional).
Click OK to save the budget entry.

Note: Refresh the Wise configuration manager window to update changes before moving on to the next set of instructions.

Add funds via the staff client:

Navigate to Titles > Budgets > Register amounts on budget. The Book budget amounts window opens.
Choose a Budget year and a Branch.
Add budget line(s):
1. From the Budget drop-down menu, select the material budget to which you want to add funds.
2. In Amount, enter the amount of money you want to add to the budget.
3. (Optional) Provide a Description for the budget line you are adding.
Click Add this line. The funds are added to your budget. Note: The budget line does not appear in the bottom part of the screen, but the line is added.
(Optional). Repeat step 3 to add additional amounts to the budget.

Edit or remove lines from your budget

Budget lines are edited in Wise configuration manager.

In Wise Administrator, go to Order and link > Budgets > Budget entries.
Click the Open button next to your library organization.
Click the Open button next to the branch budget you need to update.
The Select year window opens.
Click Open next to the year to which you want to add funds.
Select the budget item you wish to change, click Open.
Click Detail next to the budget line you will edit.
At the bottom of the Budget screen, select Copy, Change or Remove to perform an action.
1. If you are editing the information by selecting Change, the fields become editable. From here, you can update the Amount, Date, Description, Invoice and Supplier.
Once your updates are complete, click OK to save changes. A confirmation message appears.
Click OK to confirm changes or removal.

Budget year-end

At the end of a financial year, you must close the budget for each institution. The budget should be closed once you have received and paid the final invoice to close out the year. To change your budget closing options, see Manage your organization.

In Wise Administrator, go to Order and link > Budgets > Budget entries.
Click the Year's close button next to your library organization. The Close budget year screen appears.
Click OK to close out the budget. A message screen appears to indicate whether the closing was successful. If there are branches where the budget is unable to close, the message will indicate those locations.