Budget

 Accounting>File>General Ledger>Budget>Budgets

The RFMS Budget program allows setting up one or more budgets, using the data in the general ledger and journal files (income and expense accounts).  To work properly, the General Ledger module must be activated and for accurate reporting, the G/L should contain valid information. 

Using the budget program actually involves just a few simple steps.  To get started set up at least one budget configuration.  If the G/L is installed, import that information into the current year’s budget as a starting point.  The budget program will import from closed G/L periods first, and then closed journal periods.  After that, zeros will be used for months with open journal files.  Then modify the imported data for each month. 

After entering at least one budget configuration, print the three budget reports to see how things are doing according budget

Budget Tool Bar

	Exits the Budget Module.
	Displays the on-line help system for the current screen.
	Adds general ledger account codes to the budget shown.
	Allows changes to the highlighted account code for the budget shown on the screen.
	Deletes the highlighted general ledger account code from the budget shown on the screen.
	Tags highlighted account
	Tags all accounts
	Un-tags highlighted account
	Un-tags all accounts
	Increases the tagged accounts by %
	Decreases the tagged accounts by %
	View the total profit for a complete budget.
	Imports last year’s budget.
	Prints budget reports.

 

Adding Account Codes to a Budget Sheet

Click the Insert button .

Insert newly added account codes

This screen allows importing any new accounts from the Chart of Accounts to the  selected Budget Sheet.

Changing a Budget Record

Click the Edit button .

This screen allows changing an existing budget.  The option is presented to clear all previous budget information.

Fill Method

Manual Entry

This option allows entering individual budget dollar amounts for each month. It forces the amount to be allocated in total, but not equally over the periods.

Quick Entry

This option is the fastest method of entering budget data.  It divides the amount to be budgeted by twelve and inserts the record.

Percentage Entry

The percentage entry allows applying a percentage calculation to each month.

Ad Hoc Entry 

The ad hoc entry method allows entering any dollar amount desired into each month.

Tie to another Code

The method allows formatting a budget based on another account code.

Increase/Decrease Budget Amounts

The tag option allows specific accounts to be chosen in order to change the budget by a percentage amount.  For example, earlier this year 5% of sales was spent on advertising, but revenue has increased so the advertising budget will be increased.  Simply tag the advertising account and click the percentage increase button .

Conversely, to decrease the percentage of advertising dollars, click the percentage decrease button .

Show Budgeted Profit 

While on the Main Budget screen, view the total profit for a complete budget.  Listed is gross profit dollars and percentage, income (Loss) from operations, net profit dollars and percentage and income (Loss) after taxes.

Import Budget from a Previous Year 

This selection automatically imports data from the RFMS G/L and journal files from the previous year.  The budget will go back through the G/L up to the latest G/L close date.  After that, closed journal files are used.  Any months after that, that are not closed will, be budgeted with zeros.  Manually enter those amounts, or be sure the G/L is closed up to the year-end. 

Printing Budget Reports

Click the Printer Button  from the Main Budget Screen.

Budget vs Actual, Year to Date, and Current Budget Sheet reports exclude inactive zero accounts.

Budget vs. Actual

The budget vs. actual report prints a comparison of the actual balance of each general ledger account code against the budgeted amount entered.  Select any period of monthly increments for comparison by entered the beginning and ending months.

Year to Date

This report allows viewing the amount spent on accounts from the beginning of the year to the date when the report is printed.

Year to Date report will not print once the year is over.

Current Budget Sheet

The actual budget report prints a listing of all budget amounts entered.  Each general ledger account code is listed along with each month.  Gross profit is calculated by subtracting the totals of the cost of sales accounts from the sales account.  Budgeted Net Profit/Loss is calculated by:

Gross profit - expenses + misc income - misc expenses - provision for taxes

Budget Sheets

Select Add/Edit Budget Sheets

From this screen add, view or delete a Budget Sheet. 

Make Default Budget

The system requires selecting one of the budget configurations as the default budget. The default budget will be automatically loaded for use when entering the budget program.

Click the green check mark, as shown in the above screen in order to set the default budget.

Add Budget Sheets

The RFMS Budget program allows having more than one budget at a time.  To add a budget sheet, select the Add/Edit Budget Sheet from the Accounting Module.

1. Click on the Insert button to enter a new budget.
2. Create a budget name.
3. Select the beginning month for the new budget and insert the current year.
4. Choose to apply the new budget to one store or all stores.
5. Make changes to an existing budget by clicking the Edit Button.
6. To delete a budget, click the Delete button