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How to manage Virements

Virement is moving Budget from one Cost Centre/Ledger Code combination to another.  As the financial year progresses, it is likely that some expenses (and income) will be greater than originally budgeted and some will be less. Virements move Budgets around as the year progresses. These should have leadership or Governing Body approval.

Note: All pages below are subject to having relevant Roles and Permissions.

Go to Reports and select the Budget Monitoring by CFR or Cost Centre Ledger report, depending on how you want to monitor it.

Example Budget Monitoring by CFR code report

You will notice that the original Budget is shown, the Virements and the revised Budget.

To see Budgets by Cost Centre and Ledger Code, run the Budget Monitoring by Cost Centre Linked Ledgers report.

To actually make the Virement, go Budgeting and select Cost Centre Allocation.

Select the Cost Centre that you want to change, highlight it and then double click to get down to the Ledger Code detail.

 You can see the detail, the Pupil Premium budget of £21,735 is made up of several ledger code budgets.

To change the £1.5k to £2k for FSM charge double click again, to get the following box.

You can then manually adjust the Monthly Totals one by one or a quicker way is to click the User Profile option. Adjust the amount to be allocated and click Save.

You should get a message to say that the Budget has been increased and you should see the revised amount in the pink or green line (depending on whether it is income or expenditure).

In this example the total expenditure on the pink line has gone from £21,735 to  to £22,235. This will be reflected in the reports outlined above.

Updated on September 21, 2020

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