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Using TurboCASH

 







BUDGETS
CREATE OR EDIT BUDGETS
  
The budget facility is used to enter and edit budget figures in TurboCASH, which can be compared with actual figures achieved. Budgets are a guide as to what you want to achieve; for instance what income you expect to generate (sales forecasts and income from other sources) and a plan for your expenses you need to incur to achieve that income.

Once all your budget figures are entered, the Budget Performance report or a Trail Balance, Income Statement, etc. could be generated to compare your actual figures with your budgeted figures. This comparison allows you to see exactly how your business is doing and will enable you to make better business decisions - e.g. when to advertise or when to cut back on what costs, etc.

To Enter or Edit a Budget:
Click on the Edit - Budgets menu option or press the and and keys on your keyboard. The search facility screen listing all your available Accounts as well as the Budget Accounts screen will be displayed.

 

Title bar. Close button - click to close or exit this screen. Select an account from the Accounts search facility. If an annual amount is entered, TurboCASH will divide it in equal amounts for each accounting period. This field will only be activated if a Balance Sheet account (Assets, Capital and Liabilities is selected. The descriptions of the accounting periods as set in the Reporting Dates. Click to preview the Budget Performance report for a selected account. Click to restore or clear the entered figures . Click to save the entered figures . Click to close or exit this screen. Enter an amount or if an annual amount was entered the amount will be displayed. Enter an amount or if an annual amount was entered as a credit amount the amount will be displayed.
Select the account, for which you wish to enter or edit budget figures, and press the key on your keyboard. The search facility will close and the account number will be displayed in the account field.
Enter the budget amounts in the Debit or the Credit columns for each of your accounting periods. The annual figure will be updated automatically as you enter the amounts. Should you enter an amount incorrectly, you may click on the button to undo the entered amounts.

If you have annual figures you may enter an annual amount in the Amount field as a debit (+ positive) or a credit (- negative) budget amount and press the key on your keyboard. If it is a debit (+ positive) amount the amount will automatically be divided equally between the number of accounting periods in the Debit column. If it is a credit (- negative) amount the amount will automatically be divided equally between the number of accounting periods in the Credit column.

You may wish to edit or overtype the amounts for each accounting period to reflect your seasonal trends or expected scheduled payments or sales.
Click on the button to save the changes. The Accounts search facility screen will be displayed. You may select another Account to enter budget figures for the following account.
Once you have entered all your budget figures, you may press the button on your keyboard twice to close the Accounts search facility and the Budget Accounts screens.

Opening Balance can not be entered if you have selected an Income / Expense account from the Accounts search facility. These are for Balance Sheet accounts (Capital, Assets and Liabilities) for which you may enter the balance carried forward balance from the previous year.

You may at any time preview your entries for a selected account by clicking on the button. The specific account will be viewed on the Budget Performance Report.

If you select an account, which have sub-accounts, the following Confirmation screen will be displayed:



Click on the button and select the correct account or an account with sub-accounts.