Add / Edit Budgets - Cost centres

Once the cost centres are activated, you may add (enter / edit) your budget figures for cost centres.

For the purpose of this example, the budget figures is allocated to cost centres, as follows:

Total Budget

Cost centre A1

Cost centre B1

Account Allocation

Description

Annual

Monthly

Annual

Monthly

Annual

Monthly

010-000

Sales

-120 000

-10 000

-72 000

-6 000

-48 000

-4 000

100-000

Cost of sales 

48 000

4 000

36 000

3 000

12 000

1 000

GROSS PROFIT

72 000

6 000

-36 000

-3 000

-36 000

-3 000

200-000

Bank charges

480

40

480

40



205-000

Depreciation

600

50

600

50



210-010

Fuel & oil

1 200

100

1 200

100



210-020

Maintenance

1 800

150

1 800

150



210-030

Repairs

2 400

200

2 400

200



220-000

Rent

6 600

550

4 200

350

2 400

200

225-000

Salaries and wages

6 000

500

3 000

250

3 000

250

230-000

Stationery

120

10

120

10



TOTAL EXPENSES

19 200

1 600

13 800

1 150

5 400

450

NET PROFIT

-52 800

-4 400

-22 200

-1 850

-30 600

 -2 550

The entire budget is allocated split and allocated into the 2 Cost centres (added in “Cost centre 1” group), e.g. “Cost centre A1” and “Cost centre B1”. 

Enter Budget figures - Cost centres

To Add / Edit Budgets for Cost centres: 

1.Click on Accounts (Action ribbon). 

2.Select the Account (or sub-account). 

3.Click on the Budget tab (if not displayed by default). 

cost-centre-budgets

4.Select the period and enter the budget figure. 

5.Select “Cost centre A1” or “Cost centre B1”  in “Cost centre 1” column.

In this example, all accounts, are set to either “Cost centre A1” or “Cost centre B1”, except the monthly budget figures for the following accounts, is split between the two cost centres:  

010-000        Sales                             -10 000        

Cost centre A1                         -6 000        

Cost centre B1                         -4 000

100-000        Cost of sales                   4 000        

Cost centre A1                          3 000        

Cost centre B1                          1 000

220-000        Rent                                   550        

Cost centre A1                            350        

Cost centre B1                            200

225-000        Salaries and wages          500        

Cost centre A1                            250         

Cost centre B1                            250

To split the budget figures for a specific account:

1.Change the total budget amount to a selected cost centre's amount and click Save record. 

2.Click on the button to create a new record. 

3.Enter the date and amount.

4.Select another Cost centre. 

5.Click on the button to save the budget record.

6.Repeat the process for each month. 

6.Click on Save (record button).

7.Click on the Save button. 

8.Repeat the process for all accounts for which you need to enter budgets. 


Print Budget figures - Cost centres 

Once the budget figures is entered in Accounts (Action ribbon), the budget figures (Budget listing) may be printed in the Trial balance, Income statement, Balance sheet and Standard column balances report types. 

The “Empty” option, will print the full budget for the entire Set of Books (this includes the budget for both  “Cost centre A1” and “Cost centre B1”, if Cost centres were selected, when entering Budgets). 

You may select to list only the budget for “Cost centre A1” or “Cost centre B1”.

To view, print and analyse budget listing:

1.On the Reports ribbon, select Ledger analyser 1

cost-centre-budget-listing-options

2.Select the “Budget” option (tick). 

This option is available for the Income statement, Trial balance and Balance sheet report type.

3.Select the period from 2018/03/01 to 2019/02/28 to view the annual budget figures.

Select the period from 2018/03/01 to 2018/03/31 to view the budget figures for a specific period, e.g. “March 2018”.

4.Click on the Report button to refresh and generate the budget figures.



To view the budget figures for sub-accounts, e.g. click on the + icon next to G210-000 Motor vehicle expenses. This will display the figures for each sub-account.

5.If any of these budget figures need some adjustment, click on Accounts (Action ribbon); and select the applicable accounts and edit or enter the necessary figures. 

6.Click on the Print button. 

An example of the “Income statement”, listing the total budget (including “Cost centre A1” and “Cost centre B1”) for “March 2018”, is as follows:

cost-centre-budget-listing-printed-all

An example, of the “Income statement”, listing “Cost centre A1” budget for “March 2018”, is as follows:

cost-centre-budget-listing-printed-A1

An example, of the “Income statement”, listing “Cost centre B1” budget for “March 2018”, is as follows:

cost-centre-budget-listing-printed-B1

The “Net profit” for the monthly budget figures; for the selected period “2018/03/01” to “2018/03/31”, is as follows:

Total Budget (including “Cost centre A1” and “Cost centre B1”)  4 400

Only “Cost centre A1”                                                                 1 850

Only “Cost centre B1”                                                                 2 550