Create a budget using previous year’s actuals.

When you create a budget from the actual results of a previous year, NetSuite copies the values for account types and budget categories you specify. If you are replacing values in the new budget, the process deletes the existing budget before copying values to the new budget. This copying ensures that the new budget is identical to the results from a previous fiscal year.

1. Go to Transactions > Financial > Copy Budgets.
2. Select Actuals From Year, and then choose the year’s budget that you want to copy.
3. In the To Budget Year field, select the year of the budget you are creating.
4. If the Multiple Budgets feature is enabled, in the Budget Category field, select the category for the budget, or create a new one if necessary.In NetSuite OneWorld, with the Multiple Budgets and Multiple Currencies features enabled, each budget category has a a type of global or local. This type determines the currency NetSuite uses for a subsidiary’s budget and actual amounts.
5. In the Account Type field, choose the types of accounts you want to copy into the new budget:
   • Income – accounts included in income sections of Income Statement reports.
   • Expense – accounts included in expense sections of Income Statement reports.
   • Balance Sheet – accounts included in Balance Sheet reports, assets, liabilities, and equities.
   • Income and Expense – accounts included in both income and expense sections of Income Statement reports.
   • All – accounts included in Income Statement, Balance Sheet reports, and statistical accounts.
6. In the Modify By field, enter the percent by which you want to increase or decrease the budget amounts.
   • Enter a positive percent to increase the budget amounts.
   • Enter a negative percent to decrease the budget amounts.
7. Use the Replace box to determine whether the copied budget replaces an existing budget or adds to it.
   • Check the box to overwrite existing budget amounts with the copied budget amounts.
   • Clear the box to add copied budget amounts to the existing budget
8. To retain detail information from the source budget into the copy, check the Keep Detail box for Customers, Items, Departments, Classes, or Locations.If you clear all of these boxes, the new budget has no customer, item, department, class, or location criteria.
9. Click Save.