Budgets can be set up for nominal accounts, allowing you to forecast the
expected monthly balance for a particular nominal account. This can then be
compared to the actual figures for each month. A number of options exist for
budgets. You can base them on last years actual budgets plus a percentage
increase, equal monthly amounts, or manually enter your own figures for each
month.
1. Select Gx Nominal in the toolbar.
2. Choose Account Details from the menu.
3. Type in the Nominal Code, use its 'quick access code' or use the drop-down menu to select it.
4. Click the Budgets tab.
5. To set this years monthly budget as last years actual figures plus a
percentage increase, click the Last Years Actual radio button from the Calculation Type options. The cursor will move to Percentage Uplift where you should enter the percentage increase to add to last years
figures.
6. To set equal budget amounts for every month, click the Equal Amountsradio button from the Calculation Type options. The cursor will move to Annual Amount where you should enter the annual budget for this
nominal account.
7. If you want to manually enter the budget amounts for each month, click the
cursor to the Budget Amount column and enter the amounts for each
month. Please note that credit accounts must have a negative budget figure and
vice versa for debit accounts.
8. Click
the Restore Original Values radio button to cancel any changes you
have made to the budget for this nominal account.