Creating & Monitoring Budgets

Budgets in Quickenerp

Create budgets to plan and monitor income/expenses against actuals. Go to Accounting > Configuration > Budgets.

Creating a Budget

1. Click Create.
2. Name - "FY2026 Budget", "Q1 Marketing Budget".
3. Period - Select date range (Jan 1 - Dec 31).
4. Budget Lines - Add each account's planned amount per period:
• Account (e.g. "Sales Revenue - Products").
• Planned Amount (e.g. ,000).
• Period: Monthly, Quarterly, or Yearly distribution. Quickenerp can spread evenly or by custom amounts per month.
5. Save.

Monitoring Budgets

• Open the budget → see a comparison table: Account, Planned, Actual, % Achieved, Remaining.
• Pivot View - Switch to pivot to compare multiple accounts side by side.
• Graph View - Bar chart showing planned vs actual per month.
• Budget Alerts - Set a percentage threshold. When actuals exceed X% of the budget, a notification is sent.
• Budgets can be viewed in the Profit & Loss report by enabling "Show Budgets".

Best Practices

• Create separate budgets for revenue and expenses.
• Use monthly periods for tracking, with annual totals.
• Review budget vs actual monthly in management meetings.
• Create revised budgets mid-year if circumstances change significantly.