Use the Budget Future Years tab to specify a budget for up to five future years. You can enter the budget values for future years, one year at a time, by selecting from the Budget year drop-down, which future year's budget values to enter.
You can assign any Budget type (No Budget, Annual, Monthly or Profiled) to the three types of nominal accounts; posting, group and memorandum.
The Year to date budget displays the total budget for the year to date, for the months that have already been completed. This is calculated from the monthly figures displayed in the budget details.
You may enter the Budget Year figures by double-clicking the entries.
Note: Amending budget values does not have a retrospective effect on variances for previous accounting periods.
Open: Nominal Ledger >Nominal Accounts > Enter New Account | Budget Future Years.
No budget.
Note: If you had previously set budgets on an account and then at a later date, choose No budget as your Budget type, you are prompted to delete the budgets.
Monthly budget.
Enter the required values for each budget period in the Budget Next Year column.
Annual budget.
Enter the total value for the budget in the Annual budget box.
The ledger apportions equal values to each period.
Group budget.
This is only applicable for posting type nominal accounts.
Selecting this option indicates that you do not intend to enter any budget figures for this account, since they will be included in the budget figures for a group account.
To continue entering details for the nominal account, select the Attachments tab.
To save the nominal account, click Save.
Steps in this task
Enter budget profiles (NL settings)
Enter budget headings (NL settings)
Enter budgets for this year (nominal account)
Overview
Examples
Reference