Whistlebrook’s Budgeting and Planning Application (B&P) is a general ledger budgeting and forecasting tool. It provides for the input of cost centre overheads, the accurate calculation of future employee costs and the separate planning of the fixed asset register.
The budgeting & planning application is essentially a cost centre overhead and balance sheet planning tool. The system has full workflow capabilities to allow cost centre managers to enter their budgets, submit them for approval and for those assumptions to be approved or rejected at a higher level.
Since payroll costs are normally a significant part of any financial institution’s running costs, there is a separate module for the forward planning of employee costs. Payroll planning includes salaries, NI, car costs, bonuses and pension costs.
The fixed asset register can also be planned separately from the general overheads. The system will plan automatically the monthly depreciation and post this to the P+L
One aspect of budgeting and planning is that at the completion of the plan, the system will automatically perform additional processing to ensure that regulatory requirements on the liquidity ratio and the value of cash deposits is met.
The application can plan forward for any time period from 1 month to 5 years. In addition, multiple plans for the same time period can be built in order to provide scenario comparisons.
Once a budget has been processed a general view of the output is available from within the application. The main form of output however is via the Budgeting & Planning OLAP cube using Excel as the viewing tool.