Add Accounts to various sections of budget

How do I add accounts in the various sections of my budget?

The setup of the Cashbook Platinum system is very important before you start budgets.

Check the following items in the main program before entering the budget module:

• Make sure Chart of Accounts has been correctly setup with all required income, expense, asset & liability accounts.
• Ensure that any required non-cash accounts (such as depreciation expense) are setup in the chart with the "non-cashbook" account checkbox ticked.
• Check that the "Balance Sheet Link" has been set for any relevant Other Income or Other Expense type accounts (e.g. purchase & sale or assets).

Note that Other Income/Expense accounts that are not linked to a balance sheet account, will appear in cashflow and profit & loss figures. Accounts that are linked will appear in cashflow and net worth but not Profit & Loss. 

• Make sure that all required enterprises have been set up with all necessary information and required options selected.

• Click on the Budgets toolbar icon.

When you create a budget you can automatically add all accounts and banks to their relevant sections. These sections basically follow the structure of the Chart of Accounts:

• Enterprises
• Farm Income/Overheads - includes sundry farm income and overhead expenses that are not part of any enterprise.
• Capital - includes capital receipts and payments such as loans received & paid, plant sales & purchases etc.
• Proprietor Funds - includes receipts and payments relating to proprietorship such as advances from personal funds, owners drawings and personal superannuation contributions.
• Off Farm Income/Expenses - includes income and expenses relating to off-farm investments and non-farming activities.
• GST - consists of 3 calculated lines in a month/year grid as follows:
  • GST Paid - amounts applicable to all expenditure amounts in budget. These are calculated using the relevnat GST category for each account as per the chart of accounts setting. Where the budget is prepared GST Inclusive, this line will be blank as the GST amounts will be embedded in the expenditure amounts.
  • GST Received - amounts applicable to all inocme amounts in budget. These are calculated using the relevnat GST category for each account as per the chart of accounts setting. Where the budget is prepared GST Inclusive, this line will be blank as the GST amounts will be embedded in the expenditure amounts.
  • GST Net BAS - this is a balancing account and represents the net BAS amount payable/receivable for the month or quarter (depending on BAS frequency set in the GST setup area)
  • Note: The GST amounts will automatically update as figures are changed in the budget.
• Bank Accounts - used to setup the relevant details relating to banking accounts.
• Net Worth - used to budget asset & liabilities to give a monthly budgeted net worth position over the budget period. It is laid out in three parts; Assets, Banks (which may be in credit or overdrawn) and Liabilities.

Account Groups - This function allows the user to define the range of accounts that will be available for use with the Add Accounts buttons in various sections of the budget. This is used to keep the list to a manageable level and to ensure that only accounts from the appropriate section of your chart are used. (See Below)

Check Account Group are Setup:

• Click on the Setup > Account Groups menu option.

• Each Account Group i.e. Variable Costs, Farm Income, Farm Expenses, Capital, Proprietors Funds, Off Farm Inc/Exp and Net Worth should have certain associated reporting groups selected.

For example

• Click on the account group e.g. Variable Costs on the left side of the screen.
• Highlight the associated reporting groups on the right side of the screen. e.g. 2-200, 2-220,2-240, 2-280. SEE BELOW.
• Selecting associated groups: (Note: Selection will be highlighted blue.)
  • To select a block of associated groups (i.e. in a contiguous group), hold down the Shift key then click on the first group you wish to add then click on the last group. All associated groups in between will also be selected.
  • Individual groups may be selected or deselected by holding down the Ctrl key and clicking on the group.
  • If you only want to select one group, then just click on that group.
• Then click on the OK button.

• Make sure you select associated reporting groups for each Account Group. For example:

To Add Accounts to the various section of the budget:

• An account can be added to or deleted from the following sections of the budget tree:
  • <Direct Costs> section of each enterprise.  (Note: A Direct Cost is an expense that can be traced directly to (or identified with) a specific enterprise.)
  • <Farm Inc/O'heads>
    • <Farm Income> (This includes sundry farm income that is not part of any enterprise.)
    • <Overheads>  (Operating expenditure which cannot be conveniently traced to or identified with any particular enterprise.)
  • <Capital> (This includes capital receipts and payments such as loans received and paid, plant sales and purchases, etc.)
  • <Proprietor Funds>  (This includes receipts and payments relating to proprietorship such as advances from personal funds, owners drawings and personal superannuation contributions.)
  • <Off Farm Inc/Exp> (This includes off-farm investments and non-farming activities.
  • <Bank Accounts> 
  • <Net Worth>  (This section is used to budget assets & liabilities to give a monthly budgeted net worth position over the budget period.)
• ​See how these sections are depicted in the budget below:

• Open to the section of your budget to which you would like to add accounts e.g. <Direct Costs> of enterprise Cattle Trading.
  • Click on the + button beside the budget name e.g. Budget 2009-10. (Note: + button becomes a - after you click on it.)
  • Click on the + button beside <Enterprises>.
  • Click on the + button beside the specific enterprise, e.g. Cattle Trading.
  • Click on <Direct Costs>.
  • Click on the Add Account button.

• Select an account/s to add: (Note: Selection will be highlighted blue.)
  • To select a block of accounts (i.e. in a contiguous group), hold down the Shift key then click on the first account you wish to add then click on the last account. All accounts in between will also be selected.
  • Individual accounts may be selected or deselected by holding down the Ctrl key and clicking on the account.
  • If you only want to select one account, then just click on that account.
• Click on the OK button.

• All accounts selected above will be added to the Direct Costs that are specific to the Cattle Breeding enterprise.

Note: to delete an account, click on the Delete Account button, click on the account/s you wish to delete, so they are highlighted blue, then click on the OK button.