Budget, Forecasting and Financial planning

In this article

Banana Accounting is able to automatically prepare complete and detailed financial plans for one or more years. This gives you a clear vision of the future of your company, association or private finances.
It's an innovative, simple and faster way to prepare financial plans. You enter forecast movements in the Budget table and the program automatically prepares the Profit and Loss Statement, Balance Sheet, and Liquidity plan with all the details.

You have a clear vision of the future and can plan ahead to improve profitability and the use of financial resources.

If you only need a simple budget for the year, you can use the Budget column in the Accounts and Categories table and enter the annual budget for each income and expnese item.

The Chart of Accounts with the updated budget

Planning will use exactly the same Chart of Accounts that has been set up in the accounting.
In the Accounts and Categories table (Income & Expense accounting), you can see the budgeted amounts, in addition to the current balances.
The structure of the Profit and Loss Statement and Balance Sheet can be customized at one's discretion, by adding accounts, groups and subgroups.
You are also able to use cost and profit centres, segments as well as accounts for customers and suppliers.

The Budget table

Planning is prepared by entering transactions in the Budget table. This is like keeping your accounting records, but they're about the future.   
Recurring operations such as rent are indicated only once, by setting the repetition option and a possible end term.
The annual sum is displayed in the Total column.
You can add as many rows as you wish, for the current or following years, make changes or modifications at any time.

A clear and complete vision of the future for your activity

The same reports available for the accounting, are also at your disposal for the future.
Even before the business starts, you can know how profitable your business will be and how much liquidity you will have at the end of the year.

  • Balance sheet preview
    Liquidity, final and intermediate balances are accurately displayed for you.
  • Profit and Loss statement
    You will know your expenses and revenues for the different periods and whether there will be a profit or a loss.
  • Detailed Account cards
    You are able to analyse each item in detail thanks to the account card, to know how the bank account or liquidity is evolving.
  • Multi-year projections
    You can have the Balance sheet and the Profit and loss statement for one, two, five or even ten years.
    The program automatically projects the data of the year for the following years.
  • View data for months, quarters, years
    You can have the Balance Sheet and the Profit and loss statement for a month, quarter, semester, year or more years.
    You can then analyze in detail the period you are interested in.
  • Compare the budget with the actual figures
    Using the same chart of accounts, the comparison between the budget and the actual figures is immediate. You can easily identify deviations from the budget.
  • Cost and profit centers and segments
    You can also use cost and profit centers and segments when making your budgets.
    You can have detailed budgets for individual projects, customers or geographical areas.
  • Save report settings (compositions)
    Create reports and save compositions to recall when you want.

Advanced planning functions

  • Use quantity and prices for transactions in your budget
  • Use formulas for automatic calculation of interest, depreciation and taxes.
  • Create your own calculation functions with Javascript.

Examples of available reports

Plan with monthly subdivisions

Financial plan for 4 years with annual subdivisions

Account card with details of future movements

This allows you to check which elements are affecting liquidity in detail.
For making changes, return to the Budget row by double-clicking on the row number.



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