Financial Budgets & Targets

How to assign Budgets to your GL Accounts through Enterpryze Accounting, keep on top of how your business is performing!

Introduction to Budgets & Targets

The purpose of a budget is to plan, organize, track, and improve your financial situation. In other words, from controlling your spending to consistently saving and investing a portion of your income, a budget helps you stay on course in pursuit of your long-term financial goals.

Budgeting identifies current available capital, provides an estimate of expenditure and anticipates incoming revenue.

With Enterpryze you can assign Budgets to your GL Accounts and build a picture of how your business is performing. Check out the steps below to see how simple it is to setup and start using Budgets!

How to add a Budget to your GL Accounts

• Click on Accounting > Budgets and Targets

• Now select the date range to apply the Budgets for in the FROM and TO box at the top.

• Now click on Apply Filters to set the date range on the grid.

• Add amounts manually:

  • For each GL account simply click on the column where you want to assign the Budget amount. You can also assign an amount into the total column and it will split this amount evenly over the dates/months that you have selected for that GL account.

• Spread an amount over selected GL accounts:

  • You can also select multiple GL accounts and then enter an amount to spread across those GL accounts. The same amount will be applied to the total of each GL account and then spread across the date selection you entered.

  • Simply select the GL accounts by ticking the boxes on the left

    

     

  • Then click on Spread selected Evenly

    

     

  • Enter the Amount and click on Spread Evenly

    

     

  • Now watch it fill those GL accounts with the same amount in the total column and will then spread the value over the date range

    

     

• When you have finished assigning the amounts for all GL accounts that you require, click on SAVE.

• Now enter a name for your Budget. This is so you can retrieve it again to make changes or to view the amounts assigned.

  

   

How to view previously saved Budgets

• Click on Previous Budgets

• You can search for your Budget or simply click on 'More' to see further options for each Budget who have saved. From here you can choose to Open the Budget where you can make changes.

  

   

  N.B. You can also select to Duplicate or Delete a Budget from here. Deleting a Budget will remove all values added for that Budget so be sure before you continue.

• If you make any changes to an existing Budget ensure to SAVE changes.

Reporting on Budgets

Currently you can run the Profit & Loss Report and Compare it to your Budgets.

• Click on the Profit and Loss Report

• Tick the below option for compare budget

  

   

• Click on the Pencil icon to select the Budget to compare it to, select the dates you are comparing and then click on Apply to run the report.

  

• You will see the report now shows the Budget column and will have the value for the dates selected.