Open topic with navigation

> Settings_and_Tools / Company_Preferences / Budgeting settings

Budgeting settings

 

Getting to this window

From the Settings menu, choose Company Preferences > Budgeting.

Budgeting Method

Budgeting Method

Choose from:

  • Standard

    Budgeting by the nominal account record only.

    You can view your budget, actual and previous year figures. The information can also be viewed in graphical format.

    If you have used this method in a previous version of Sage 50 Accounts, v12 or earlier, and you choose to use the Advanced nominal code budgeting, your current nominal budgets are transferred for you. The earlier budgets are made read only on the nominal accounts.

  • Advanced 

    When advanced budgeting is selected, two things happen - the Budgeting Type drop-down becomes active, allowing you to choose from a trio of budgeting types, and the default Chart of Accounts section also becomes active.
Budgeting Type

Only available with advanced budgeting, choose from:

  • Nominal Code - Advanced

    This is very similar to the Standard method but presented in a better way.

    Extra benefits include being able to:

    • View previous budget results for the past five years.  
    • Enter a budget for the next year - referred to as a forecast year.
    • Copy the current year's values to create a budget for your forecast year, and at the same time increase or decrease those figures.
  • Department Overview - Advanced

    With this method you can set up a budget for a department and analyse costs or income by nominal category.

    Nominal categories are the accounting areas used to group your nominal accounts, such as Sales, Purchases, or Overheads. The value of all nominal accounts in a category are used to monitor what has actually happened, against what was planned.

  • Department in Depth - Advanced

    With this method you can set up a budget for a department and analyse the cost or income by nominal account. This method gives you the most detailed analysis when it comes to budgeting.

Tip: We recommend you don't clear the audit trail for the budget year as this moves your departmental actual values to Department 0. This will mean the analysis across the different departments is lost.

Default Chart of Accounts

Chart of Accounts

Only available with advanced budgeting.

Choose the layout you want displayed when you open the Budgets feature. The layout controls the structure of the nominal accounts displayed in the Budgets window.

Tip: Some people prefer to set up a Chart of Accounts layout for budgeting.

Recalculate Department Actuals

Calculate

Only displayed when you change your budgeting method.

To recalculate your Departmental Actuals, select Calculate.

The recalculation can take some time. A progress bar appears, showing the progress of the recalculation.

To review Ask Sage, Business Advice and Health and Safety advice, go here. All contact details for Sage are available from here.

Go to top