How to create forecast budgets

You can use advanced budgeting to enter a budget for the next year, this is referred to as a forecast year.

TIP: To check your budgeting settings click Settings then Company Preferences. Next click the Budgeting tab and check the Budgeting Method drop-down list.

To enter a forecast budget

1. Click Departments then select the required department and click Budgets along the navigation bar 
2. Complete the Budgets window as follows:
   
   

   Nominal Area	Browse to and select the required nominal category or nominal code. For example Sales or Overheads
   First month Forecast period box	Enter the first month's forecast budget figure in the relevant box in the Monthly Breakdown section.
   Copy Values	To populate the forecast periods for the remainder of the year, click Copy Values then choose from one of the following options then click OK: Incremental - Adjusts the values entered to succeeding months by the value or percentage indicated. Uniform - Copies the entered value to all periods in the forecast year. Percentage or Value adjustment - Enter the value or percentage to be applied to succeeding months. The adjustment can be expressed as a positive representing an increase, or a negative representing a decrease. For example, to increase each months forecast value by £2000 enter 2000.00, or to add a two percent increase to each months forecast value enter 2%. TIP: If the values for subsequent months are not of equal increments or the same value, enter each period manually.

   TIP: If required, repeat this step for any other nominal category or nominal code that you want to add a budget to.

3. Click Save then click Close.

That's it, you've entered your forecast budgets for the next financial year!

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