Plan budgets and compare ledger actuals

Confirm the ledger, account and period#

Install Business Budgets in a corporate workspace with configured double-entry Accounting. Confirm the employer country, book currency and books start date in Accounting. Owners and administrators can prepare budgets for active income and expense accounts.

Leave department blank for a company-wide account budget. Enter a department when you need a department plan. Department plans show their reviewed targets and commitments without allocating company-wide ledger totals to a department.

Review and approve the exact budget#

Enter the plan title, account, inclusive period, amount in the ledger currency and planning assumptions. As the workspace owner, review the current draft and record an approval reference. A budget approval records a planning decision. Use your organisation’s purchasing approvals when committing funds.

Save changes as a new draft revision. The comparison keeps using the last approved revision until the owner approves the new one. Resolve open commitments before changing the approved baseline or closing the budget.

Compare posted actuals and open commitments#

For a company-wide budget, posted actuals include the exact approved account and dates in the book currency. Expense actuals use debits less credits, and income actuals use credits less debits. Post or reverse entries through Accounting when the books need correction.

Record a pending expense commitment with its source reference, expected date and amount. Keep it separate from posted actuals and close it with a reconciliation reference once it is cancelled or accounted for. Purchasing orders are reconciled manually in this release.

Resolve exceptions and close the plan#

If the account, ledger or approval changed, reload and check the original before retrying. Review date overlaps for the same account and department. Retained versions and decisions remain available when the plan closes.