Accounting 🡪 Budget
The budget feature in the accounting module system allows users to define and manage their annual budget for the profit and loss account. This feature provides a grid layout where users can input budget amounts for different time periods and accounts, facilitating comprehensive financial planning.
Accessing the Income statement modification
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Navigate to the Accounting → Budget Grid
Budget Grid
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Scope:
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Define the budget for the complete year, covering all necessary profit and loss accounts.
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Default View:
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Default View: The grid will initially appear with a monthly layout.
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Switching View (Monthly, Quarterly, Yearly)
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Monthly View: Displays the budget on a month-by-month basis.
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Quarterly View: Aggregates the budget data into quarters (Q1, Q2, Q3, Q4).
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Yearly View: Provides a single column for the entire year.
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Note: Locate the option above the grid. Select the desired view (Monthly, Quarterly, Yearly).
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Inputting Budget Amounts
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Grid Layout:
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Column One: Lists all the accounts.
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Remaining Columns: Represent the selected time periods (monthly, quarterly, yearly).
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Inputting Data:
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Click on the cell corresponding to the account and time period.
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Enter the budget amount for that period.
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Repeat for all relevant accounts and periods.
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Example Scenario
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Setting Up a Monthly Budget
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Example:
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Click on the cell for "Sales Revenue" under "January."
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Enter the budget amount, e.g., "5000."
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Repeat for "February" to "December."
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If required from the grid, you can delete an existing budget, clear already filled data, or save your changes.
Figure 1 Budget Grid