Budgets and Budget Accounts Overview
Learn about Budgets and Budget Accounts to understand the hierarchy structure and understand the differences between the budget types.
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In the Settings module, you will find the Budgets and Budget Accounts.
- (A) Sites - Your Sites will have Budgets and Budget Accounts.
- (B) Budgets - All Budget Accounts are placed under a Budget folder, will be bound by the properties of the main budget.
- (C) Budget Accounts - All expenses will be tracked against one or more budget accounts.
By default, you will see the following:
- Operating folder will contain the Operation Costs budget with the budget account called Operation - All Operation Costs.
- Purchasing folder will contain the Purchasing Costs budget with the budget account called Purchasing - All Purchasing Costs.
- Revenue folder will contain the Revenue Transactions budget with the budget account called Revenue Transactions - Receivable Invoice Related Trans.
Budgets
When you want to create a budget, the following can be created:
- Operating - This budget is used for most general maintenance costs and expense transactions. Such as Work Order expenses, Asset costs, etc.
- Purchasing - This budget is designed for Purchase Orders and Inventory adjustments. This shows how much is being spent to acquire the parts and hold on to them.
- Revenue - This budget is used for receivable invoicing transactions, which are associated with the Invoicing Module.
Learn more in Create a Budget and after you have done the creation, you will need to Create a Budget Account for that budget.
Budget Accounts
You can have an unlimited number of budget accounts. After you have created your Budget Accounts, then you can edit the budget accounts to complete the budget planning.
Budget Transactions
When you want to find the budget transactions for a particular budget account, you can view or create these.
From the Budget Account screen, click on the budget and then click the budget account you want to view. The budget transactions for this month will display. See Budget Transactions for more details.
