DESKTOP EDITION CLOUD EDITION SERVER EDITION THEMES GUIDES FORUM
Guides

Create a budget

A budget is an estimate or plan of income and expenses for a set period of time that can be compared to actual figures from the Profit & Loss Statement.

Manager includes a simple budgeting capability under the Reports tab. Click on Profit and Loss Statement (Actual vs Budget):

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Then click New Report to start the process:

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Fill in the form:

Note
Enter income as positive numbers, expenses as negative numbers.

Click Create to store the budget. You can create as many budgets for as many different time periods as you want. A budget from one time period can be cloned as a starting point for building a budget for another time period.

Example
The business, Northwind, creates a budget for the month of May 2016. Although it uses tracking codes, this budget is for the entire company:



Northwind can view the budget to see a comparison between actual and budgeted figures for the defined time period:


Caution
When creating a budget, only accounts already in your chart of accounts can be included. So build your chart of accounts first, then create your budget, which will appear in the same basic format.

Accounts will be included in the Profit & Loss Statement (Actual vs. Budget) if you enter a budget figure or there is an actual income or expense transaction during the budget period. Only if both are true will Percentage figures be calculated.

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