Use the Budget this year tab to specify a budget for your nominal account.
You can assign any Budget type (No Budget, Monthly, Annual, Group 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 This Year figures by double- clicking the entries.
Note: The Account and Budget This Year tabs are used to create the nominal account.
Note: Amending budget values does not have a retrospective affect on variances for previous accounting periods.
Open: Nominal Ledger >Nominal Accounts > Enter New Account | Budget This Year.
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 This Year column.
Annual budget.
Enter the total value for the budget in the Annual budget box.
The ledger apportions equal values to each period. A Year to date budget figure is shown which is the accumulated budgets of the periods to date.
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.
Profiled budget.
Select the required budget from the Budget profile list.
The total annual budget figure will be divided according to the percentages defined in the selected budget profile.
To continue entering details for the nominal account, select the Budget Next Year tab.
To save the nominal account, click Save.
Steps in this task
Enter budgets for future years (nominal account)
Other tasks
Enter budget profiles (NL settings)
Enter budget headings (NL settings)
Overview
Examples
Reference