How to Add/Modify Budgets

Introduction: Budgets allow for a quick comparison to the target goal for each month. This page shows 3 different ways to add a budget.

  1. Adding a budget manually. This allows you to enter each number manually.
  2. Copy Budget. Copies the budget from a previous year to the current year.
  3. Create Budgets. Creates a new budget based on an estimate of projected seasonal sales using monthly or yearly percentages.

You may have seen budget columns on the Daily Operating Report and Profit and Loss Budget Comparison reports:


To add a budget, navigate to Edit -> Add/Modify GL Accounts

Click the Add/Modify Budgets button at the bottom of the GL accounts screen

This screen shows all budgets that have been created for all years on one page. You can use the Yellow filter bar to see monthly budgets for a particular Year, Description, Company, PC, Department, or Year.

There are 3 basic ways to add a budget.

  1. Adding a budget manually. Scroll to the bottom of the list of budgets and you will find a grey row with a * at the beginning. This is the new line you can start typing in the GL Account, Description, Co #, PC, Department, each month projected goal, and the year the budget will apply. The columns for each month are labeled Budget01 for January, Budget02 for February, etc.
  2. Copy Budgets. Click the Copy Budgets button
    Then enter the Past Year and New Year, Example Past Year 2019, New Year 2020. Then choose if you want to copy the Budget Figures or Actual Figures. Budget Figures will be the budget listed for 2019 over to 2020. If there is no budget for 2019 there will be an error message. Actual Figures will Copy the monthly balance in accounting for each GL in 2019 into a budget number for 2020. Once this is complete, you can go in and make adjustments using method A.
  3. Create Budgets. Click the Create Budgets Button
    Based on Last Year will mark up last year’s year to date numbers based on the LYTD percentage you enter. For example, if you want 2020 year-end revenue to be 20% higher than 2019, you would enter 120% into LYTD Percentage. Then choose an Account Type such as Revenue. You can even choose a specific GL account to create a budget or leave Account Type and GL account blank to apply this budget to ALL GL accounts. Next you must enter percentages for each month of the year. These percentages must total 100%. The idea here is that you can take your 120% markup over last year and spread it out over next year based on low season or high season. Example:

As you can see, the year to date goal number has been distributed across the months according to the percentages defined above.

Based on Custom Allows you to enter a specific EOY balance upon which to base the balance. This would be done for each GL account and profit center individually. The Monthly Percentages allow you to spread the EOY budget across all 12 months in accordance with the seasonal nature of the business. Example: