Quick Budgets Overview

A Quick Budget allows you to budget for each code in your cashbook code list in a simple format. 

All the bank accounts in your file are treated as one amalgamated bank account. You just need to enter the budgeted amounts into the relevant codes & months. 

Quick budget may be useful if:

  • You have a reasonably simple enterprise and don’t need detailed information on all your bank accounts
  • You do not require a high level of detail in your budget. If you need individual bank account balances, interest calculations, Enterprise based worksheets or a Statement of Position features, you will need to create a Full Budget.

How Quick Budgets Work 

  1. Balances and interest rates are calculated for a single bank account. You can also combine the balances and cash flows of several accounts.
  2. The budget can be set for a period of 1 to 5 years. Start months can be altered at any time.
  3. There is no limit to the number of quick budgets that can be kept on file. Although to keep your file at a reasonable size, delete unused budgets.
  4. You can edit the start months of a 12-month budget temporarily to suit the various types of years i.e. Tax Year or Production Year.
  5. The year totals of all Codes can be displayed and printed up to a 5-year plan on one page.
  6. Interest can be calculated on both receipts and payments.
  7. You can import data from the cashbook.
  8. Each cell in a quick budget has a worksheet available, allowing up to 10 lines of data.

Setting Up A Quick Budget 

  1. Setup the GST, instalment tax and diesel fuel rebates for the budgets. 
  2. Create the Quick Budget template.
  3. Enter the data in your Quick Budgets.
  4. Set up the Quick Budget interest & tax.
    • Enter bank account, GST, fuel rebate and PAYG Tax opening balances into the Quick Budget.
    • Turn the interest and tax calculators ON.
  5. Print out the worksheets and the Quick Budget.
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