Allocate Budget

 
Welcome to AlignBooks. We are happy to have you on board. In this help studio tutorial, we will explore the Allocate Budget preparation options.
 
Before we begin, let us understand about the need of Allocate Budget and the relevance of this particular activity.
 
Alignbooks has introduced the facility to record Budgeted and Forecast, where the user can feed the budgeted figure in respect of various expenses and keep track of the actual expenses incurred against such budgeted amount; the variance report generated by software based on that inputs (budget vs actual) help the users to analyze the performance and to take corrective actions.
 
 
Allocate Budget can be created from Module in AlignBooks.
Note : This Menu will be enabled when Expense Budget Control in Finance Setup is not set to "Not required".
 
 
Let’s now understand how to create a new Record Budget in simple steps:
 
 
You have two ways to prepare a Record Budget;
  •     Enter fresh data for the first time for the year;
  •     Modify / Update the data for the previously entered year;
 
 
Let’s enter the fresh set of data for the first time;
 
 
Allocate Budget
 
1

For Year

1. For Year: Select the year from the drop down list for which you want to allocate the budget.
2

OK Confirm

2. OK Confirm : Click this button to confirm and fetch the ledger details along with the month wise data for the year, if previously entered.
 
 
3

Ledger Detail Table

Here We will now enter the budgeted amount for the specific ledger and Month.
 
 
Code: System will fill the Ledger code automatically from Chart of Accounts having Income and Expense Nature.
Ledger Name: System will fill the Ledger Name automatically from Chart of Accounts having Income and Expense Nature.
Month - April: Enter the Budgeted amount here for the particular ledger for the month of April.
Month - May: Enter the Budgeted amount here for the particular ledger for the month of May.
Month - June: Enter the Budgeted amount here for the particular ledger for the month of June.
Month - July: Enter the Budgeted amount here for the particular ledger for the month of July.
Month - August: Enter the Budgeted amount here for the particular ledger for the month of August.
Month - September: Enter the Budgeted amount here for the particular ledger for the month of September.
Month - October: Enter the Budgeted amount here for the particular ledger for the month of October.
Month - November: Enter the Budgeted amount here for the particular ledger for the month of November.
Month - December: Enter the Budgeted amount here for the particular ledger for the month of December.
Month - January: Enter the Budgeted amount here for the particular ledger for the month of January.
Month - February: Enter the Budgeted amount here for the particular ledger for the month of February.
Month - March: Enter the Budgeted amount here for the particular ledger for the month of March.
 
4

Save

4. Save : Click on this button to save the data you have entered.
5

Cancel

5. Cancel : Click on this button to exit form without making any changes.
6

Delete

6. Delete : Click on this button to delete the existing data for the year.
 
You can compare the actual amount incurred and budget amount from the report provided.
 
 
We hope you enjoyed this tutorial. Please give us a call for further help.  Happy Aligning!
 
 
 
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