Plan with budgets

A budget is your plan: what you expect to earn and spend, per account and month. Owlvix puts it next to the real figures from your books, so you see straight away where you are off track.

Steps

1. Open Finance & Accounting, then Budgets. Click New budget.

   

2. Name it and choose the months. For example a calendar year, or the next six months.

3. Add accounts and amounts. Click + Add account and pick an income or expense account. Type a yearly figure in Spread total to split it evenly over the months, or type each month yourself.

   

4. Click Save budget. You see Budget, Actual and the Variance for each account, with totals and net profit.

   

5. Spot the red rows. Red rows spent more, or earned less, than planned. Pick From and To months to look at part of the year.

6. Look month by month. By month shows each month's actual figure with the budget underneath.

   

Tip Next year, open last year's budget and click Copy last year's actuals to start from what really happened.

Good to know

• Actual figures come from posted entries, so they are always current.
• Print gives a copy for your team or your bank.