Budget

Use the Budget command on the Action menu associated with the Nominal Accounts form to assign budgets to the currently selected nominal account. You can assign budgets for the current or next accounting year in one of the following ways:

Direct manual entry of period values.
Manual entry of annual values and automatic period factor apportionment.
Automatic entry of annual and period values for the current year, based on the previous year’s actual values.
Automatic entry of annual and period values for the current year based on the previous year’s budget values.
Automatic entry of annual and period values for the current year based on the previous year’s revised budget values.
Automatic entry of annual and period values for next year, based on the current year’s actual values.
Automatic entry of annual and period values for next year based on the current year’s budget values.

Where budget total or period values are created using one of the automatic processes, you can amend the calculated values.

The debit or credit status of budget values for each account is derived from the account’s class, as follows:

Class - Balance Sheet Types	Debit/Credit Status
Asset	Debit
Capital and reserves	Credit
Liability	Credit
Class - Profit and Loss Types	Debit/Credit Status
Expense	Debit
Income	Credit

When reporting on budgets, if the actual value is greater than the budget value, then the variance is shown as positive. If the actual value is less than the budget value then the variance is shown as a negative. You can maintain both original and revised sets of budgets for the current and next year, and the set in use depends on the setting of the Which Budgets? option on the General tab of the Nominal Ledger - Set Options form.

If you want to assign budgets using a factor, you must first create the budget factor record using the Budget Factors command on the Maintenance submenu of the Nominal module.