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The different budgeting methods available in Sage Accounts enable you to select the level of detail you want to use for your budgets - more advanced budgeting methods give you more detailed reports and mean you are better able to forecast budgets for future years.
This topic explains each of the options available from the Budgets window. The Budgets window is accessed from Company > Budgets.
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Reference |
Choose the department you want to work with. |
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Name |
Displays the name of the selected department. |
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Nominal Area |
Department Overview budgeting - To locate the nominal category, click the nominal area to view the nominal structure. Nominal Code or Department In-Depth budgeting - To locate the nominal account you want to work with, click the nominal area to view the nominal structure. Tip: The structure is controlled by the layout selected for Chart of Accounts. The default chart appears when you open the window. If you cannot see the area you want to work with, choose another layout from the drop-down list. Find out more. |
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Year |
From the drop-down list, choose the year you want to deal with. You can choose the current financial year or the five previous years. |
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Nominal |
Displays the code of the nominal account selected from the Nominal Area. Not applicable if you are using Department Overview budgeting. |
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Chart of Accounts |
The layout that controls the structure of the nominal accounts in the Nominal Area. |
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Name |
Displays the name of the nominal account selected from the Nominal Area. Not applicable if you are using Department Overview budgeting. |
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Notes |
Add information about the budget. Maximum of 1023 characters. |
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Total Budget |
The annual budget assigned to the area. This is made up of the budget values in the Monthly Breakdown grid. When setting up the budget you can enter the budget for the year and the software distributes the amount evenly across the twelve months in the Monthly Breakdown grid. Alternatively, you may prefer to enter budget values for each month into the grid. |
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Total Actual |
Displays the value of all transactions for the nominal area. This value automatically calculates for you using the transactions that have been recorded throughout the year. |
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Total Variance |
The difference between the Actual and Budget values. |
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Budget |
The monthly budget assigned to the area, which is total budget spread over each month. When setting up the budget you can enter a budget for each month. Alternatively, to distribute an annual budget across each month, enter the value into the Total Budget box > Tab > Yes. |
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Actual |
Automatically displays the value of transactions recorded to the nominal area on a month by month basis. |
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Variance |
The difference between the actual and budget values. |
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Forecast |
The budget for the next financial year. During the Year End process you can choose to move the forecasted budget so that it becomes the budget for your new financial year. |
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