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
- Balances and interest rates are calculated for a single bank account. You can also combine the balances and cash flows of several accounts.
- The budget can be set for a period of 1 to 5 years. Start months can be altered at any time.
- 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.
- 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.
- The year totals of all Codes can be displayed and printed up to a 5-year plan on one page.
- Interest can be calculated on both receipts and payments.
- You can import data from the cashbook.
- Each cell in a quick budget has a worksheet available, allowing up to 10 lines of data.
Setting Up A Quick Budget
- Setup the GST, instalment tax and diesel fuel rebates for the budgets.
- Create the Quick Budget template.
- Enter the data in your Quick Budgets.
- 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.
- Print out the worksheets and the Quick Budget.