BUDGET

[Wendel]

Having worked for the first time with the budget of iCash, I find the following items should be added or explained:
1 I do not find a possibility to input different budget amounts by month
2 the program calculates a budget for the month selected, but does not show this budgeted amounts
3 there is no possibility to view a YTD budget and a comparison to a YTD actual
4 To me the variation column lacks logic. I finally introduce expenses as - (negative amounts) to get a variance, but budget overruns are poitiv and underuns are negative.
If expenses are introduced as positive amounts, actual is added to budget to get to the variance
Thanks for any information

 

[stanbusk]

#1 is unsupported right now. I don't understand #2, both interval and budget amounts are displayed. About #3, what do you call 'YTD budget' and 'YTD actual' About #4, expenses should be negative else they are refunds.

 

[Wendel]

Thanks for your prompt answer.
Concerning 2 - the icash windows shows a column with the total year budget, a column with the actual period selected and a column with a variance between selected period actual and budget. It does not show a column with the calculated budget for the period selected.
Concerning 3 - the program allows only to select a given month or total tear.
YTD means year to date and should allow to select a period from January 1 to end of each month in a calendar year, e.g. March YTD would be the thre fist month of the year - budget and actual
Concerning 4 - I am a bookkeeper and used to debits and credits, a system 500 years old and not improved since. your logic of origin and destination does not improve understanding.
Best regards

 

[stanbusk]

Ok I take note. About #4, there is very little differences between single and double entry bookkeeping, one or two transactions for the same concept, that's all. We decided to do it that way because it is faster to enter transactions.