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Creating Budgets

How to enter a budgets

Jacqui Sullivan avatar
Written by Jacqui Sullivan
Updated over a week ago

From the chart of accounts it is possible to access the Budget which allows you to record by period (month, quarter, etc) The budget values which must then be compared with the actual values.

To do this, from the Chart of Accounts click on the Budget icon far right of the code you wish to enter a budget against....

The select New Budget

  • Enter the date periods, this can be for the start to the end of your financial year or, you can enter the budget on a monthly basis.

  • If you have entered the full financial year you can tick the box to spread the amount evenly over the 12 month period.

  • Enter the amount, please note for sales budgets prefix the amount with a minus to correctly when running your reports. Any budgets relating to costs can be entered as a positive figure.

  • If you have departments activated you can also enter a department here.

  • Click save or save and new to continue.

  • Your budgets will then appear and can be edited for each month

You can also import your budgets, this ideal if you have a lot of budgets you need to enter for specific months. These need to be entered onto an excel csv file in this format...

  • Enter the date period from and to

  • The chart of accounts account code

  • The amount, remember for sales budgets prefix with a minus

  • Text

  • If allocating to Depts you can enter here

  • Save your file in csv format

  • Click Other options and select Import budget figures

  • Select the saved file and click Load file

  • Map the columns in the Source file (your excel file) to the respective columns in the Load file

  • Skip any headers at the top of your source file as these cannot be imported

  • Click Import data

  • The system will confirm the import and you can then run your financial reports against budget.

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