4.1 How to manage Analytic Budget

1. 1. Click on Accounting

   

2. 2. Click on Configuration

   

3. 3. Click on Settings

   

4. 4. Type "bud"

   

5. 5. Enable Budget Management

   

6. 6. Click on Save

   

7. 7. Click on Accounting

   

8. 8. Click on Analytic Budget

   

9. 9. Click on New

   

10. 10. Fill in name of Budget

    

11. 11. Select a start date for period of budget

    

12. 12. Select end date of period of budget

    

13. 13. Select Budget Type

    There are 3 option. Revenue, Expense & Combination of Both

    

14. 14. By default, the user is set as responsible for the budget. Amend if needed

    

15. 15. Click on highlight for dropdown menu to allow/disallow analytic plans included in the budget

    

16. 16. Click on Add a line

    

17. 17. Fill in relevant analytic accounts/tags

    

18. 18. For example, Electricity, Rent & Sewage has been selected

    

19. 19. Fill in budgeted amount

    

20. 20. Click on Open

    

21. 21. List View of approved budget

    By default, 3 columns are displayed. Budgeted is the planned amount, Committed is the amount that has been ordered(contracted), Achieved is the amount that has been invoiced/billed.

    

22. 22. Click on highlight.

    

23. 23. There are additional methods to display budget progress.

    For example, I've enabled theoretical amount. This amount is calculated based on the prorated budget amount.

    

24. 24. List view of budget with theoretical amount

    

Amending the budget 2 ways.

1. 25. First method. Click on Reset to Draft

   Amend the budget as step 11-19

   

2. 26. Second method. Click on Revise

   

3. 27. New budget is created with REV in the name

   

4. 28. Select the old budget

   

5. 29. The status of the budget is set to "Revised"

   

How the analytic budgets are affected by Sales & Purchase Documents

1. 30. Click on Accounting

   

2. 31. Click on Purchase

   

3. 32. Click on New

   

4. 33. Create a new Invoice with the relevant products & analytic accounts

   

5. 34. Click on Confirm Order

   

1. 35. Confirmed PO now appears in Committed Column in budget

   

1. 36. Click on Create Bill & Confirm the bill

   

1. 37. Bill created now appears in Achieved Column in budget

   

2. 38. Click on Details for further details of all analytic lines

   

3. 39. Pivot table of selected analytical account

   

Viewing Analytic lines of budgets as a whole

1. 40. Click on Reporting

   

2. 41. Click on Budget Report

   

3. 42. Click on Measures…

   

Generating Budgets of different time periods based on available budgets

1. 43. Click on Accounting

   

2. 44. Click on Analytic Budget

   

3. 45. Uncheck on

   

4. 46. Click on Generate

   

5. 47. Select Month

   

6. 48. Select relevant analytic plans

   

7. 49. Click on Split

   

8. 50. Click on Budgets

   

9. 51. List view of all the budgets created in draft mode