To add, or update Budget numbers you go to each Revenue and Expense account and click on the Budget tab. You then enter the amounts in each month. If you want a linear amount in each month, set the annual amount, then click on Allocate by Period.

Thank you very much for your comment.  

However, I need some help with the navigation.  When you state go to each revenue and expense account, how is this done? What are the steps I need to follow to go to each account. 

I know when I look at the income statement, I can click on an account and see what has been entered for the period specified. 

If the budget data for the revenue and expense accounts is entered this way, will I be able to do  Income statements for each month and YTD comparing actual with the budget number and % chg of variance? Please confirm.

Thanks again,

Marianne

Hi Maryanne:

From the home screen go to Company > Chart of Accounts and scroll down to the first 4000 account. Select the first account and double click. This will open the General Ledger for this account. Click on the Budget tab (fourth from the left). If you have picked a Group Header, Group Total or Subgroup Total account you will see that a budget cannot be entered for these types of accounts. This is not a problem you will just bypass them by clicking on the > arrow near the upper right. You will be advanced to the next account. 

On this General Ledger for the account, click on the Budget tab if it is not already open. On the left side check Budget this Account, then enter the annual budget amount and click on Allocate to Period. This will spread the annual amount evenly across all budget periods. 

You can adjust the amounts if you wish by typing the new amount in any of the monthly allocated space.

When you are finished with the amounts for this account, go back up to the > and click on it. This will save the entry you made and advance you to the next Revenue account. Work your way through all of your revenue and expense accounts.

When completed go to Reports > Financials > Income Statement. For Report Type choose Comparative Income Statement and make one of the Periods Actual and the other one choose Current Yr Budget. Set the dates for each Period chosen. Hit OK and see how your Budget worked out.

Hope this helps.

Hi Alwyn,

I just want to express my appreciation for all the help you have given me. 

Your commentary was very clear and concise and helped me to navigate through this budget process.

Again my sincere thanks,

Regards,

Marianne