$IT Budgeting

$IT's Budgeting function allows for budgeting on a monthly or yearly basis. Budgeting is undertaken at the Account level and budget reports are available at the Account Category, Account Class, and optionally the Account Type levels. Budgets can also be prepared for Account Tags. Tags are pretty much anything you want them to be. See $IT Spending & Income Flow for a better understanding of these levels.

This is a screen shot of the Account Budgets menu:

Each Manage Accounts Budget button is as follows:

Create Budget: Opens up the Create New Budget form. You enter the budget year to be generated. A budget can be generated from either an existing budget or actual yearly amounts. An Adjustment % can be applied to either increase or decrease the budget or actual amounts. You then click on the Generate Budget button and the budget is computed. Clicking on the Enter Budget button allows you to manually enter the budget amounts.

Edit Budgets: Opens up the Edit Account Budget form. The Budget Year drop down list allows you to pick a budgeted year and if you budget on a monthly basis, the Monthly Period drop down lists the month to be edited. Yearly budgeting shows the entire year. Also, if you are budgeting monthly, the Complete from Prior Month button allows you to complete the month by transferring amounts from last month's budget. This is helpful if you are using current actuals for your budget and there are still months that do not have actual data. Thus, budget data could not be generated for that month. The Edit and Enter Account Budget forms use Access datasheets. These datasheets operate like spreadsheets and provide great flexibility in working with data. View the related video on the $IT Video page.

Accounts are selected from a drop-down list. Accounts can be added or deleted as necessary. The Budget Amount, if generated by the system, can be modified. Account Tags are selected from a drop-down list and assigned to an Account and Budget Amount. Account Type, Account Category, and Account Class are displayed so budgets can be sorted and examined at those levels.

Delete Budgets: Allows you to delete an existing budget and start over.