Budget

AgExpert Analyst’s budget feature enables you to plan your income and expenses by creating a budget, and measure your business’ performance by comparing your budget to your actual income and expense values.

The Budget dialogue box provides a budgeting period for each month of the current fiscal year. You can enter budget values for each period or you can enter a total for the entire year. The budget comparison income/expense report uses the values you enter here to compare your actual values to your budgeted values.

If you’re a sole proprietor or a partnership, you can budget your personal advance and personal drawing accounts, and your income and expense accounts.

You can generate the new fiscal year’s budget values automatically from a previous year’s budget by clicking Auto Fill….

The Budget dialogue box features a:

• Description column - This column lists all valid budget accounts. If your business is a sole proprietor or a partnership, it will list all income, expense, personal drawing and personal advance accounts. If your business is a corporation, it will only list income and expense accounts. You can set up the accounts listed here in the chart of accounts.
• Budget spreadsheet – This is where you enter the budget values. Each column corresponds to a budget period and each row corresponds to an account. To enter a budget amount for a particular account, locate the account’s row and enter the values for each budget period in the appropriate column. You can also enter the total amount for the account in the last budget period or click Auto Fill… to automatically enter values.

Only three budget periods are displayed at one time. To view other budget periods, use the horizontal scroll bar to scroll left or right. 

• Totals for each budget period are displayed at the bottom of each column. The total for each account is displayed in the Total column on the right.
• Click Auto Fill… to open the Auto Fill dialogue box and automatically enter values in the budget spreadsheet.
• Click Clear… to open the Clear dialogue box and automatically erase multiple values from the budget spreadsheet.
• Click Print to generate a Budget report.
• Select the year you want to generate a budget for using the drop-down menu in the top right. You can generate a budget for any year in the future.
• Click Save to save the information, without closing the Budget dialogue box.
• Click Close to close the Budget dialogue box.

Last updated on August 19, 2013 by FCC AgExpert