Create a New Blank Budget | Agrimaster 10

A new blank budget allows you to create a budget from the beginning, without importing actuals or copying data from another budget.

Use the Create New Budget Wizard to enter the budget details, select the budget duration, add bank accounts, and configure GST settings.

1. Access the New Blank Budget

• From the Budget Home Page, select the Create New Budget button.

• This opens the Create New Budget Wizard.

2. Select Create New Budget

• Within the Create New Budget Wizard, choose Create New Budget.

• This opens the New Budget Setup, where you can begin entering the details for your blank budget.

3. Enter Budget Information

• Enter a name for the budget.

• The budget name must contain at least three characters.

It is recommended that you include the budget period in the budget name, so the budget is easier to identify later.

4. Select The Budget Duration

• Select the budget duration by choosing the start and end months for the budget period.

This period must be at least three months or no longer than five years.

5. Add Bank Accounts

The Setup Bank Accounts step gives you access to Bank Account Settings, where you can add the bank accounts you want to include in the budget.

You must add at least one bank account.

Multiple bank accounts can be added if required.

For each bank account:

• You can enter an Opening Balance, if required.

For the budget:

• Nominate one Primary Account.

• Only one bank account can be nominated as the Primary Account.
• This can be entered when selecting or changing the Primary Account, or later from the Overdraft Limit section in Manage Bank Accounts.
• An Overdraft Limit can only be applied to the account nominated as the Primary Account.

6. Configure GST Setup

• Review the GST Setup for the budget.

• You can continue with the default GST settings or update them to suit the requirements of this budget.

In GST Setup, you can review or update:

• GST Opening Balance

• GST Bank Account

• GST Return Owed or Payable

• BAS Frequency

• GST Remittance Schedule

The GST Bank Account is the account used for GST payments and refunds within the budget.

The BAS Frequency determines how often GST payments or refunds are forecast in the budget.

If required, you can customise the GST Remittance schedule to change when GST payments or refunds are expected to occur.

7. Finish Creating the Budget

• Once all required details have been completed, select Finish.

• Agrimaster 10 will generate a New Blank Budget, ready for you to begin entering your cash flow data.