Budgeting

Overview

To get to your branches budget, click Registers then Branches. Select a Branch and then click the Budget tab.

The date range can be changed by clicking on the orange starting and ending month at the top of the page:

To simplify the view, toggle ‘Hide Actuals’ to hide the actual amounts. Click ‘Show Actuals’ to display them again:

Budgets can be pre-configured with the following percentages:

• Recurring Revenue – expected ongoing revenue from regular clients
• Key Client – portion of revenue attributed to key clients
• Key Project – portion of revenue from key projects
• One-Off Client – revenue from clients with one-time work
• Subcontractor Markup – margin applied to subcontractor costs. When accounts are marked as subcontractor accounts, the markup is included in the estimated revenue.

To enter these percentages, click the settings cog in the top-right corner of the Budget page:

Revenue

Estimated Revenue (hover over values for a breakdown):
This is calculated by multiplying the number of hours worked by the employee’s chargeout rate. If their utilisation (%) is not specified in their employment details or position, it will default to 100%.
The calculation excludes any time marked as leave or public holidays.

Main Revenue:
This is the total revenue from standard invoiced work for the month. You can enter or adjust the amount by clicking on the cell for that month and add a comment by clicking the speech bubble icon.

Adjustments:
These are manual changes or corrections to the revenue total, such as write-offs or reallocations. Click the cell for the month to enter an amount and use the speech bubble icon to add a comment.
Note: When a negative number is entered, it will be displayed in parentheses – for example (1,000) instead of -1,000.

Actual Revenue (click a monthly number to see the invoices that make up this total):
This is the total of all invoices that have been issued (i.e. not in draft) for the month.

Monthly Totals:
This is calculated as Main Revenue minus Adjustments.

Total Revenue:
This displays only in the Total column and represents the sum of Monthly Totals across the year. It is not shown for individual months.

Cost of Sales:

Hover over a monthly value in the Cost of Sales section to see a breakdown of the hourly rate and weekly hours for each staff member included in the cost. Weekly hours are based on payroll data.

The cost of sales can be imported from a spreadsheet by clicking the Import button and following the table format shown in the pop-up window.
M1, M2, M3, etc correspond to the months of the financial year – for example, M1 represents July.

An individual account can be added manually. Click ‘Add Account’, select an existing account and the actual amounts already spent will be imported:

Click the money icon at the end of the row to view all purchases made for this account. To see purchases for a specific month, click on the relevant monthly amount:

Click the red trash can to delete the account row:

Once an individual account has been added, you can choose to autofill this account type. It can be autofilled based on a percentage of revenue or as a multiple of full-time staff – which multiplies the entered value by the number of full-time staff.
To setup auto fill, click on ‘actual‘ under the desired account. Click the enable auto fill button and enter the auto fill type.

Once you have completed your budget, click the Request Budget to be Locked button at the bottom of the page. This will send an approval to the leader of the Finance group to approve or redo your budget.

Once the budget is approved, it will become locked.

If you need to make changes after the budget has been approved, you can unlock it by clicking the padlock icon in the top-right corner of the page. After making changes, the budget will need to be sent for approval again, as described above: