Budget for Groups

Anand Thu, 10/07/2021 - 14:54

Set Yes in the Groups field in the Budget Creation/Alteration screen to set budgets for a group or group of ledgers.

In the Group Budget screen, select a Group from the List of Groups and enter Account Name.

Enter the cost centre for a group in Cost Centre. Select Not Applicable, if the budget is not for a particular cost centre, but for the company.

 

In Type of Budget, select from the following two types.

  1. On Nett Transactions

      

Select this option to monitor the transaction amounts, not the balances. Nett is net of debits and credits for the specified period. For example, Nett transactions for Indirect Expenses are the debit amount for the specified period after reducing the credits for the same period. Opening and closing balances are not considered.

  1. On Closing Balance

     

Select this option to monitor the balance of the accounts, not the transactions. For example, balances of bank accounts, balances of debtors.

Enter the budget amount in the Amount field.