The Budgeting component allows you to define a Budget at the start of your financial year, maintain a Forecast and produce Year to Date reports throughout the financial year.
To access the Budgeting and Forecasting component click on the icon in the tool bar, or select the Chart of Accounts > Budgeting & Forecasting menu option to access the screen.
In the middle of the screen are three tabs: The Budget Tab - is where you enter your projected 12 month budget for one or more accounts within the 'Profit and Loss Group'. The Forecast Tab - shows a monthly breakdown of your year to date figures, plus your projected figures for the remaining months of the set period, combined to show a Forecast total for the year as it stands. The Year to Date Tab - compares your projected Budget totals against your Forecast and Actual totals.
Each tab allows you to independently select which budget you want to look at in that particular tab. Changing the selected budget in one tab will not alter the selected budget in the other tabs.
Note: you can hide/show these tabs by right-clicking on them and selecting the corresponding menu item. The 'Budget Table' is linked with the 'Accounts' tree panel on the far left of the screen.
Each row in the budget table corresponds to an account in the 'Accounts' tree panel.
This is best illustrated by expanding and contracting the account groups in the 'Accounts' tree panel, as you do this you will see that the number of rows shown in the budget table grow/shrink to match the number of accounts in the 'Accounts' tree panel.
The 'Budget Table' always consists of 13 columns, 12 periods and one total column. The first column represents the total yearly budget figure for the corresponding account.
Not available in the Startup Kit version of Business Accountz.