Budgets

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The budget facility is used to enter and edit budget figures in TurboCASH, which can be compared with actual income and expenses. Budgets are a guide as to what you want to achieve; for instance what income you expect to generate (sales forecasts and income from other sources) and a plan for your expenses you need to incur to achieve that income. Budget figures can be flexible so as to take into account seasonal trends in business.

The following new features have been added:

1.Budgets may be entered for 2 years.

2.Budgets may be entered for a specific date - e.g. Expected once off purchases or a specific big sale, etc.

Budget figures are displayed on the following options and / or reports:

1.T-Ledger Analyser:

oBudget option for Trial Balance, Income Statement, Balance Sheet and Standard Column Balances report types.

oBudget vs Actual report type.

2.Reports  →  General Ledger:

oBudget Performance – View Budget figures as comparative figures as well as the variance amount and variance percentage for all periods of each selected account.

oIncome Statement – View Budget figures as comparative figures for This Year's Income and Expense accounts. An alternative to the Budget figures, Last Year may be used as comparative figures for This Year Income and Expense accounts.  You may also select to view the variance on Income Statements.

oTrial Balance – Will list the Budget figures, as well as This Year and Last Year actual balances (if last year figures are available).

3.User Reports – if User Reports were set up to display budget figures.

To enter / change your Budget figures:

1.Click on the Edit  →  Accounts menu.  The Accounts screen; listing your available accounts is displayed.

2.Select the account to enter the budget figures.

2.Select the first account, i.e. “Sales” and enter the budget figure. Enter the annual amount of 120 000 in the “Total Amount" field and click on the Set period budget button.

The – sign will transfer the amounts to the credit column.

For a debit amount just insert the annual amount without the ““. The amount will automatically be divided this amount into 12 months in the debit or credit fields, depending on whether a “–“ or Credit sign have been entered in the Amount field.

Each month can be overwritten so that the budget can be flexed month by month to accommodate seasonal trends and spending patterns of your business. The system will keep a running total for you, so that as you are flexing the monthly budget, you can see the effect on the annual amount.  

Budget figures can also be entered for for Balance Sheet accounts (Capital, Liabilities and Assets), which may be used as a guideline to control the balances on these accounts.

3.Click on the Save button (next to the account description field).

If you do not click on the Save button, any budget figures entered, or changed, will not be saved.

4.Select the next account and enter the budget figure.

5.Continue on your own using the budget on the previous page until you have completed entering your budget figures.

6.When you are finished entering all your budget figures, click on the Close button (on the titlebar).


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