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Using budgets

A budget can be assigned to any nominal account type. The budget information is used by the ledger to track your projected expenditure against your actual expenditure. The results can be displayed or printed using various budget reports.

Budget values can be both positive and negative. Negative values apply to accounts whose balances are normally a credit. This applies to revenue accounts but may also feature elsewhere in your own account structure.

The budget types are as follows:

• No budget.

  No budget figures can be entered on the account. The account will not appear in any comparison with budget reports.

• Annual budget.

  Use this option to enter one value that represents the total budget for the year for the nominal account. This value is then automatically divided across your accounting periods. Any odd pence are added to the last period's budget figures.

• Monthly budget.

  Use this option to enter a budget figure manually for each of your accounting periods on the nominal account. You can also omit months if required.

  For accounts that have occasional monthly irregularities, you may find it convenient to enter an annual budget and then change the individual monthly figures.

• Profiled budget.

  Use this option to apply a profiled budget to the nominal account. By entering the total budget for the year the ledger automatically calculates the budget for each period for you using the percentage values specified in the budget profile. Choose from the three budget profiles when setting up the Nominal Ledger.

• Group budget.

  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. You can use group budgeting to analyse many accounts against a budget applied to a group account. This means you can apply one budget to a group account which is used to analyse other accounts without the need to enter budgets on individual accounts. To achieve this the account number for group account(s) must start with the same characters as the budgeted accounts.

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