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Budget Maestro Frequently Asked Questions

 

General

Q. How does Budget Maestro improve my budgeting process?
Unlike the rigid spreadsheet environment, Budget Maestro provides a consistent, extremely easy to use interface for quick, accurate data entry (no formulas or macros); automates consolidation; dynamically builds financial statements; and provides multi-level security. With less time spent on data collection and verification, more time is available for analysis and strategy.

Q. What are the differences between Budget Maestro Standard Edition and Advanced Planning Edition?
The Budget Maestro Standard Edition is ideal for organizations that have relatively simple planning needs and want to get away from spreadsheets for budgeting and planning. The Advanced Planning Edition adds multi-level security, support for an unlimited number of users, unlimited scenarios, and includes user definable drivers. Compare Budget Maestro Editions

Q. Does Budget Maestro operate in a network environment?
Yes, Budget Maestro operates in a network environment, allowing easy collaboration in budgeting and financial reporting. All editions of Budget Maestro are built on Microsoft SQL Server technology.

Q. Can I access my budget information over the web?
Yes, Budget Maestro is web-enabled, and can be accessed from any PC with a web browser. Some additional software may be required.

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

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

Q. 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 data as detailed or as global as you want.

Q. How does Budget Maestro compare to competitors?
There are many budgeting tools that allow you to streamline your budgeting and planning process. However all the commercial budgeting software tools in the market today require you to learn new formula scripts and utilize links. These techniques are complicated (check out their implementation guides) and prone to errors that can be difficult to find and debug. Other packages do not incorporate built-in financial or business rule intelligence. This raises the need for extensive, lengthy and expensive implementation services. Budget Maestro is the one true all-in-one software application that was developed with all business and financial logic built-in. There are no formula scripts to learn or link errors to chase down. Simple wizards, menus, drag-and-drop capability and plain language prompts easily guide you through your planning and reporting processes. Budget Maestro implements within hours or days, not weeks or months.

Q. How does Budget Maestro Balance Sheet and Cash flow reporting compare to competition?
Right out-of-the box Budget Maestro builds your P&L, balance sheet and cash flow reports based on details in your assumptions, not based on averages or trends. Developed based on the same dual-journal-entry principles as your accounting system, Budget Maestro automatically generates all required balance sheet entries, including cash increases and decreases. This means you always have a true picture of your balance sheet and cash position, never based on averages or formulas. Our competitors' balance sheet and cash flow reporting is based on high level averages at best and require extensive formulas and configuration. We view reporting and financial statements as significant advantages of Budget Maestro. We think you will too.

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Interface and Set-up of Data

Q. 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 systems that have the ability to export data to an Excel or ASCII formatted file, including data from mainframe and Unix/Linux based systems.

Our Link Maestro software provides for direct connectivity to these Accounting/ERP systems: Sage MAS 90/200/500/Accpac, MS-Dynamics GP/NAV/SL, SYSPRO and QuickBooks.

Q. 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.

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

Q. Can I bring in my starting balances?
Yes.

Q. How many years can I forecast?
Budget Maestro Standard Edition, allow you to forecast up to 7 years (monthly). The Budget Maestro Advanced Planning Edition gives you virtually unlimited number of years to forecast.

Q. Can I bring over historical data into Budget Maestro?
Yes. You can then use this information as a basis to build your budget or run comparative analysis report.

Q. How do I collect and distribute our managers' budget information?
Managers enter their information directly into Budget Maestro through a network or via the web. The simple user interface enables them to do this with little or no accounting expertise or training.

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Budget Maestro Features/Functions

Q. How do I create 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.

Q. Can I generate budget-to-actual comparisons (variance reports)?
All editions of the Budget Maestro software allow comparisons of up to four scenarios including budget-to-actual.

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

Q. Can Budget Maestro generate a headcount report?
Yes. Budget Maestro automatically generates a detailed headcount including Full-Time-Equivalent (FTE) reports 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.

Q. Can Budget Maestro calculate sales commissions?
Yes.

Q. Can I build "what-If" scenarios?
Yes! You can create what-if scenarios on the fly. Budget Maestro's powerful what-if feature enables you to instantly test alternate assumptions about the future. This dynamic capability helps you take advantage of opportunities. Be better prepared for cash flow fluctuations and other issues before they materialize.

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

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

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

Q. 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.

Q. 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.

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

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

Q. 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.

Q. Does Budget Maestro handle project budgeting?
Yes.

Q. Does Budget Maestro support deferred revenue?
Yes, Budget Maestro supports user-definable revenue recognition schedules that are specific to your business.

Q. 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.

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Budget Maestro Technical Information

Q. What platforms does Budget Maestro run on?
Budget Maestro software runs on Windows XP, Vista, Windows 7, Windows Server 2003, Windows Server 2008

Q. How many users can I have?
Depending on the edition of Budget Maestro you purchase and your business requirements, you can have one to an unlimited number of users. Compare Budget Maestro Editions

Q. 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 areas 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.

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Annual Maintenance Service

Q. What's included in the 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.

Q. Why should I purchase Annual Maintenance?
Annual Maintenance provides immediate access to the latest updates, full licensing and installation support, and access to live technical support. There is no additional cost for Annual Maintenance customers when a new version is released.

Q. How does Annual Maintenance work?
Annual Maintenance is in effect for 12 months from your purchase date. Version updates and upgrades are free of charge with valid Annual Maintenance

Q. What happens if my Annual Maintenance expires?
Your software will continue to operate, however updates and bug fixes will not be available and access to our on-line knowledge base is deactivated. Tech support, if needed, is provided at $1,000 per incident. Lapsed maintenance can be reactivated by paying the Annual Maintenance fees that were missed, to a maximum 80% of the new license price

Q. How much does Annual Maintenance cost?
Annual Maintenance for one year is 20% of the current license price.

Q. Do I have to purchase Annual Maintenance?
No, Annual Maintenance is optional, except for the first year of purchase. If you choose to not purchase Annual Maintenance, you will not receive new releases. However, you can catch up to the current release at any time by paying the Annual Maintenance fees that were missed, to a maximum 80% of the new license price.

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