How to setup a budget for a GL accounts

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Steps to create a budget:

  1. Open the Chart of Accounts screen.
  2. Click on the Budget button.
  3. The Budget year will default to the current year, but can be changed by clicking the right or left arrow buttons located to the right and left of the Budget Year.
  4. Amounts can manually be entered in each month for an account or to quickly fill each month with an amount, put the cursor in the January field and click the Fill button.  There are three ways to use the Fill button:
    • Fill Remaining Months* with Value specified:  The value entered will be filled in all of the remaining months.
    • Change Remaining Months* by Amount specified:  The amount filled for the remaining months will increase or decrease (if the amount entered is less than zero) each month by the value entered starting from the value in the current month.  Example:  the amount entered = $50, the current month = $500.  The next month will = $550 (500+50), the month after that will = $600 (550+50), and so on.
    • Change Remaining Months* by Percent specified:  The amount filled for the remaining months will increase or decrease (if the amount entered is less than zero) each month by the percentage entered starting from the value in the current month.  Example:  the amount entered = 10%, the current month = $500.  The next month will = $550 (500*1.10), the month after that will = $605 (550*1.10), and so on.

    Note
    Remaining months are the months that are months in the year that follow the month where the cursor is located.  For example: if your cursor is located in the September field, the remaining months are October, November, and December.



  5. Repeat step 4 for each account for which you want to enter budget amounts.
  6. Click the Close button when finished.

Additional Notes

  • Budgets can only be created on Revenue and Expense type accounts.
  • To quickly find an account, click on the Find button. You can search by account description, account type, or account/sub account number.
  • The budget can be printed by clicking the Print button. LI>