Bring in data from another database
Learn how to include operational data in your financial budget for more detailed budgeting.
When you create a financial budget workbook, you can bring in data from another database to budget at a more detailed level. You achieve this with the addition of a Database worksheet tab. The values in this tab drive the corresponding values in the Main tab.
A common example is to bring data from a Sales database into a Financial budget. The same process can be applied to other situations, such as Rebates, Employees, Debtors, Creditors databases.
When setting up the Database tab, have two options for getting the budget values: either manually enter them into the tab (both budgets are in one workbook) or let them flow through from another workbook (two separate workbooks).
This option allows you to do all your budgeting in one workbook. The Sales budget is nested within the financial budget, sitting in the Database tab. The sales values in the Database tab are editable and the workflow is active.
This is a suitable approach when you have small team and small budget regarding the volume of data.
Add a Database tab that connects to the Actuals data stream in the Sales database and apply an offset to use the sales data from the previous year as a baseline for the new budget.
The following video demonstrates both options when bringing Sales data into a Financial budget workbook.
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