Cashflow is the lifeblood of any small business and a budget is a very important tool in managing this. Here, you can create budgets for your business, and compare your estimates with actual results, highlighting the differences between your budget and your performance. This enables you to examine the reasons for the differences and to act on the reasons to improve future performance.

If you have not previously created a budget, when you click on the [Budget] option via the side panel, a window appears to assist you create a new budget.

Click on [New Budget] to create a new budget. 

Please note: the budget will be created for all of your accounts, and not individual accounts.

1.Type in the name for your budget e.g. My Budget 201x.
2.Select the choice for your initial data. If you do not have any data recorded in the program, select No Initial Data. If you have data in the program you can use this as the starting point for your budget. Select [Historical Data] and change the dates to the starting date for the period you would like to use.
3.Click on [Save].

Your budget will now be loaded ready for you to review and edit.

Manage Budget
For each category of Money In and Money Out, record the amount you expect to receive for each month. To enter data, click in the cell and enter an amount.

If you have loaded historical data to help create your budget, you may wish to increase your totals by a set percentage for inflation. In fact, you can also use this option to increase the whole budget, a time period or a selected column by an amount.

1.Click on the [Increase] button.
2.Select the amount of the increase.
3.Select whether the increase is a percentage or whole dollars.
4.You can now choose to apply the increase over the whole budget, selected date ranges or selected columns. Select your choice and the click [OK].

Arrow or scroll to the bottom of the budget screen. Type your [Opening Cash Balance] into the white cell named Opening Cash for the first month of your budget.(Opening Cash includes your Bank Balance and your Cash on Hand.)
Click on [Save] to save your budget.

Please Note: The Opening Cash is added to your Net Money In to calculate the Closing Cash Balance for each month.The Closing Cash Balance is then transferred to the Opening Cash for the next month.

Budget Comparison:
Comparing actual results with your budget highlights the differences between your budget and your performance. This enables you to examine the reasons for the differences and to act on the reasons to improve future performance.
The Budget Comparison section will give you Current Budget “Year To Date” and Current Actual “Year To Date” figures.

1.Click on the [Budget Comparison] button (this is an annual comparison).
2.The Difference column will indicate if you are “on budget”, below budget (signified in Red), or above budget (signified in Green).

Helpful Hints to Create a Budget:
1.Use the Enter, and Tab keys to move around the screen.
2.Remember to estimate when you are likely to receive payment where goods are sold on credit. Don't forget receipts from loans, sales of plant and your own money.
3.Some Money Out such as rent and loan repayments may be the same each month. Others, such as Stock Purchases, will vary with the expected level of sales. Other payments, such as equipment replacements will vary for other reasons.
4.Be realistic - sometimes it is valid to take last year's amount but often it is not.
5.Remember that holiday pay means a big payment followed by a reduction in wages for the next few weeks.
6.Don't forget that some payments such as insurance and income tax only occur occasionally, or commitments recently entered or planned.
Remember - you are looking at when the payment will be made, not when you receive the bill.
7.If you have an amount that will repeat, type the amount in the first month and click on the amount to highlight it. Then right click on the amount and select [Copy]. Right click on the next cell and select [Paste] to paste the amount into that cell.


Open a Saved Budget:

Saved budgets can be selected from the top left corner of the budget screen. Select the budget from the drop-down menu.

Download your Budget:
Budgets can be downloaded and saved in PDF or EXCEL format.

To download your budget:
1.Click on the [Download] button at the bottom of the screen.
2.Download and save in either PDF or EXCEL format
3.Save the budget file to a location of your choice.

Delete a Budget:
To delete a budget, click on [Delete] and [Yes].

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