Planning Settings

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Adding a Budget table

Proceed by Adding a Budget table if the accounting file does not yet contain it.

Planning only

Accounting and planning are kept in the same file. However, it is however possible to manage the Budget only, by simply not inserting rows in the Transactions table.

  • For a Startup
    • For the preparation of the financial plans for a new firm, with not yet started financial plans.
    • Initially, if you are working at the level of ideas it might be useful to select a model with few accounts, without VAT.
    • If you plan to keep the accounting as well, it will be useful to start out with a Chart of Accounts already set up for a real company.
  • For an existing firm
    • Accounting is kept with another program.
    • The Chart of Accounts will be modeled on that used for accounting.
    • To compare with the actual accounting data:
      • You can export the budget data and import it into the accounting program.
      • You can export the accounting data and import it into the budget file.
      • You can create Excel spreadsheets and report planning and accounting data.

Set up a planning

The procedure is the same, whether you manage one accounting on a standalone basis, only one budget or both together:

  1. Create an accounting file
  2. Set up the file properties
  3. Set up the Chart of Accounts
  4. Enter opening balances (if available)
  5. Enter the forecast values in the Budget table.

The Transaction table, however, remains preset, if you do not wish to display it, use the Data Menu -> Tables setup ... and tick the Transactions table as not visible.

Planning period

It is not necessary to define the planning period. You can set up the planning for one year and and also get forecasts for the following years.

Annual planning

As a rule, the planning is prepared for the accounting period defined in the file properties, which generally is identical to the calendar year.

  • The opening balance at the beginning of the period is entered in the Opening column of the Accounts table.
  • The budget data for the current year is entered in the Transactions table.

When requesting Reports, the program uses the accounting period, if a different period is not specified.

When you want to plan for the following year, you create a file for the new year. The program shows the budget postings, which can then be modified (see Create new year ... in Account2 menu).

Multi-year planning

With Banana Accounting you can have planning over several years available. The planning period is free, at the moment you request the report and set the Forecast period.

To make a planning over several years, generally proceed by setting the planning for the first year, then extending it for the following years.

Technically, therefore, proceed as if you were making an annual plan, extending it for the following years:

  • In the file properties, the date of the first year (which is generally the calendar year,) is indicated as the start and end date.
  • The opening balances are entered in the Chart of Accounts.
  • The movements of the planning are inserted in the Budget table
    • The operations that are specific to the first year only, when they are indicated without repetition.
    • Indicate the repetition code for all other operations, which are presumed to repeat also in subsequent years.
    • Operations that take place only once a year are indicated by the annual "Y" repetition code. For example, the calculation of depreciation, that is done at the end of the year.
    • Specific operations for subsequent years are indicated with the respective date on which they occur.
    • For repetitive operations that are limited to a single year or to a specific period (fixed-term leasing transactions) the End date will be indicated. After that date, no repetition will be made.
    • Formulas may be used to make the amount to repeat automatic in the row .
      • The calculation of depreciation can be based on the balance of the fixed assets account.
      • Interest can be calculated directly on the movement in the bank account.
      • A progression of sales can be specified.
      • Purchases can be defined as a percentage of the cost.
  • To obtain the planning (Enhanced Balance Sheet/with groups Report, Accounting reports, indicate the start and end date of the required budget.

Changeover to the new year

The Banana Accounting function for Creating a new year ... also carries forward the budgeting records.

  • At the level of each row you have the possibility to indicate whether the operation should be carried over or not, and whether the original data should be kept or replaced by that of the new year.
  • Creating the budget for the new year is therefore very simple, because it is only a question of changing the items of expenditure and income that are expected to change.
Planning Settings

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