Chart of accounts for the Budget

Documentation •
In this article

Opening column

Enter the initial balance of your accounting period in the Opening column of the Accounts table. This will serve as:

  • Initial balance for the accounting (Transactions table)      
  • Initial balance for budgeting data (Budget table).

Budget column

If there is no Budget table, the Budget column of the Chart of Accounts can be adapted and used to enter estimates for the current year in tabular form.

If the Budget table is set up, the Budget column of the Chart of Accounts is protected, and the values are calculated automatically on the basis of the budgeted movements, as defined in the accounting period. The value displayed in the Budget column is the balance at the end of period, and therefore includes both the initial balance and the movement for the period.

Customize the Chart of Accounts

The Balance Sheet and the Profit and Loss Account are set up in the Accounts or Categories table, with the total for accounts and groups.
The columns of the amounts are updated by the program, so the relevant table will provide an immediate picture of the current financial situation and of the estimated one, where the account balance, movement, budget and other important information are shown next to each account and group. With one click, the account card is displayed .

The Chart of Accounts is set up according to the user's needs. New accounts and groups may be added, their number or description changed or cancelled, at any time you.

For your planning, normally start with a few accounts and then add new ones when more detail is available and considered useful.

Planning with more detail

Different types of accounts can be set up in the Chart of Accounts. When recording movements, it is possible to indicate detailed amounts for:

  • Customer and Supplier accounts
    Allows for planning allocated to each customer, with the relative turnover and costs.
  • Cost and profit centres
    Allows for detailed planning for a particular project or sales made by individual agents.
  • Segments
    Manage profit and loss accounts by Department, Branch etc.
Tell us how we can help you better
If the information on this page is not what you're looking for, is not clear enough, or is not up-to-date, let us know.

Share this article: Twitter | Facebook | LinkedIn | Email