Budgets (nominal account)

Find this screen

Open: Nominal Ledger > Nominal Accounts > New Nominal Account

Open: Nominal Ledger > Nominal Accounts > Amend Nominal Account

Open: Nominal Ledger > Nominal Enquiries > View Nominal Account

  • Use the Budget This Year and Budget Future Years tabs to set budgets on your nominal account.

How to

Enter budgets for this year

You can enter budgets for the current year on the Budget This Year tab.

  • Enter budgets as a negative amount for all accounts where you're expecting the account balance to be a Credit. This normally applies to all Income type accounts on the Profit and Loss and Liability accounts on the Balance Sheet.

  • Select Display previous year adjustments if you want to show any adjustments to the Balance last year actual values caused by entering a Previous Year Journal Entry for this nominal account.

  • You can scroll right in the Period Values table to view the budget and balance values for the previous 5 years.

Tip: If you want to set an overall budget for a group of nominal accounts, you can set up a combined nominal budget (in the Sage 200 desktop).

Use this to specify a separate budget amount for each period in the year.

  1. Set the Budget type to Monthly budget.

  2. Enter an amount for each period number row in the Budget current year column.

    Tip: Enter budgets for credit accounts as a negative value.

  3. The total annual budget is calculated and displayed in the Annual budget box.

  4. You can also enter an Original budget figure for the current year budget, if you want to keep a record of the initial budget amount so that you can compare it against any changes to the budget.

Use this to specify a single annual budget amount and divide it equally across your accounting periods. Any odd amounts that are left over are added to the last period's budget.

  1. Set the Budget type to Annual budget.

  2. Enter the budget amount in the Annual budget box.

    Tip: Enter budgets for credit accounts as a negative value.

  3. The budget for each period is calculated and displayed in the Budget current year column.

    You can still amend the budget for each individual period.

  4. You can also enter an Original budget figure for the current year budget, if you want to keep a record of the initial budget amount so that you can compare it against any changes to the budget.

These are useful if you need to weight certain periods more than others to account for seasonal or market trends.

These are useful if you have higher or lower expenditure at certain periods of the year, such as during the school holidays or at the start of the school year.

Profiled budgets can only be used for your current year.

Note: You set up your budget profiles in the Nominal Ledger Settings (in the Sage 200 desktop). For each profile, you can specify the percentage of the budget that is to be applied to each period.

  1. Set the Budget type to Profiled budget.
  2. Select the Budget profile.

  3. Enter the Annual budget amount.

    Tip: Enter budgets for credit accounts as a negative value.

  4. The budget for each period is calculated and displayed in the Budget current year column.

  5. You can also enter an Original budget figure for the current year budget, if you want to keep a record of the initial budget amount so that you can compare it against any changes to the budget.

Set a group budget when you don't intend to enter any budget figures for this nominal account, as they will be included in the budget figures for a group account.

  • Set the Budget type to Group budget.

Enter budgets for future years

You can enter budgets for up to five future years on the Budget Future Years tab.

Tip: You can also enter the budget for the current year, by scrolling right to the Budget Current Year column.

Use this to specify a separate budget amount for each period in the year.

Note: Make sure the Budget type for this nominal account is set to Monthly budget.

  1. Select the top row in the Budget year +n column for that year, and make sure it's set to Monthly budget.

  2. Enter an amount for each period number row in the Budget year +n column for that year.

    Tip: Enter budgets for credit accounts as a negative value.

  3. The total annual budget is calculated and displayed in the Annual budget row.

Use this to specify a single annual budget amount and divide it equally across your accounting periods. Any odd amounts that are left over are added to the last period's budget.

Note: Make sure the Budget type for this nominal account is set to Annual budget.

  1. Select the top row in the Budget year +n column for that year, and make sure it's set to Annual budget.

  2. Enter the budget amount in the Annual budget row in the Budget year +n column for that year.

    Tip: Enter budgets for credit accounts as a negative value.

  3. The budget for each period is calculated and displayed in the Budget year +n column.

    You can still amend the budget for each individual period.

Useful info

About nominal budgets

Budgets are one of the most important things you need to track. Budgets are set against your nominal accounts so once you've recorded your budget, you can compare the totals of the actual nominal transactions posted to a nominal account against the budget for that account.

Budget values can be both positive and negative. Negative values apply to accounts whose balances are normally a credit. This applies to revenue accounts but may also feature elsewhere in your own account structure.

All budgets can be set for your current year and for up to five years in the future.

See also

Steps in this task

Create, amend, and view a nominal account

Account details (nominal account)

Analysis codes (nominal account)

Memos (nominal account)