HOPS Budget and Planning
Quick Start Guide to HOPS Budget and Planning
Below is a list of features and an overview of how to get started utilizing these tools:
- Collaborate and review together.
- Manage your MRA in a unified workspace
- Manage your staff payroll histories, and print corresponding PAF’s
- Manage your Intern budget
- Create projections that can be approved and applied to the budget
- Reconcile your budget with your Monthly Financial Statement (MFS) to maintain accuracy
- Easily locate and view historical voucher data for review.
The first thing that you’ll want to do is to make sure that only those staff that need access to the budget tools have access to them.
- To check access, go to [Administrative -> Permission Management] on the left navigation menu.
- Select the ‘Role’ from the list that you want to review the permissions for.
- Select ‘Finance’ and adjust (Add/Remove) permissions as needed.
Create a budget:
- If there are no budgets yet created, or if you prefer to create a budget from scratch, follow these steps:
- Click the ‘Add New’ button (upper right portion of the page). This will open/expand the budget details.
- Fill in the information on the page to create the budget. The default year, and budget periods will display. These can be adjusted or changed if needed.
- If there are previously created budgets, you have the option to create a budget utilizing the values from a prior years budget.
- Click the ‘Create From’ dropdown list. This will display a list of prior budgets that you can utilize to create a new budget.
- Select the ‘Budget’, the ‘Year’ for the new budget to be created, and the ‘Budget Name’.
- Click ‘Submit’ to create the new budget.
Add BOC’s to budget
- After creating your budget, you can then add the BOC’s that will be used, and add your spending budget to the BOC’s
- On the ‘Budget’ tab, click the ‘+’ sign to add a BOC to your budget
- The ‘Budget Items’ window will open and allow you to select the BOC and enter the amount budgeted for this BOC.
- Click ‘Save’ to confirm and save the BOC.
- Your payroll budget is calculated based on the entries in payroll history of each staffer. To adjust, change, or add payroll entries, go to [Finance -> Payroll] from the left navigation menu.
Create Scenarios – build projections
- We have created a scenario builder that allows you to project expenses and if approved, create corresponding payroll entries and printing of the associated PAF’s.
- Designated staff can be granted access to the scenario builder for testing against the budget, without making permanent changes to the actual budget.
Print Payroll actions (PAF)
- You can create and print PAF’s directly from HOPS. The PAF’s print as PDF’s and optionally include signatures to simplify the submission to the Office of Payroll and Benefits.