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Standard and Advanced budgeting methods

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Summary

The difference between Standard and Advanced budgeting methods in Sage 50 Accounts.

Description

Standard budgeting method

You can use this method to maintain basic budgeting by nominal code record only. You can view your budget, actual and previous year figures. The information can also be viewed in graphical format.

Advanced

If you choose Advanced the Budgeting Type drop-down list becomes available and you can choose from the following:

Nominal Code

This is very similar to the Standard budgeting method but using this method you can also:

  • View previous budget results for the past five years.
  • Enter a budget for the next year referred to as a forecast year.
  • Copy the current year's values to create a budget for your forecast year. At the same time increase or decrease those figures by a value or percentage.
The following options are also available:
Department Overview Choose this option if you want to enter your budgets by department. The budgets are entered for each chart of accounts category, for example Sales or Purchases.

You can also view budgets for the previous five years and enter a forecast budget.
Department In-Depth This is the most detailed analysis and you can use it to enter a budget for each department and nominal code.

You can also view budgets for the previous five years and enter a forecast budget.

For more information about setting up budgets, please refer to the following guide >

 

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