To add a new budget, go to Budgets and click Add budget.
Add a title and choose the input (what your budget is compared to).
Let's add a budget based on accounting objects.
- Add a title
- Select what the budget is compared to and the period – year or a date range
- Choose, how the budget is split into smaller periods
- Break down by: Accounting objects
- If you wish, choose specific objects that are displayed on separate rows (all the rest will be displayed on "Other" row)
- Link to a project, if you want this to be a budget for a certain project
- Choose payment terms
- Currency – currency settings can be modified under finance settings
Fill in the numbers and save the budget.
An accounting object can be anything you wish to measure cost and income with.
Accounting objects give a clear overview in real time about product, project, department, etc. related cost and income. Object structure is defined by your company's needs. Objects are like pockets, where money is collected or taken out of.
Now let's add a budget based on users.
User-based budgets will give a clear picture of, for example, how each member of the sales team is doing with fulfilling their goals.
- Add a title
- Select, what the budget is compared to (e.g. invoices) and period – year or a date range
- Choose, how the budget is split into smaller periods
- Break down by: Users
- Select users, who are displayed on separate rows (the rest will be displayed on the "Other" row)
- If you wish, you can link the budget to a certain project
- Payment terms
- Currency – currency settings can be modified under finance settings
To create a general budget and compare it to the results of everyone, do not select any users and enter just one value for each period.
To create budgets for each user, select a user and enter their goal. To set a budget goal for top sales persons and add all the rest into one cell, enter the joint goal into the cell Other.
Save the budget.
In order to modify or delete a budget, click on its name. You can only delete budgets if you have the relevant rights.
To get reporting on the budget created, just click on Budget report in the relevant budget view.