How do I create a new budget?

Optimum Control can be used to set budgets for use in your operation to report on actual vs. budgeted costs. These costs can be printed in the reporting module to show budget variances per period or set of periods.

To Create a Budget:

  1. Click "Budget Worksheet" (main menu toolbar).
  2. When entering the budget window, it is in "NEW" mode. (To view an existing budget, double click on the period on the pick list.)
  3. Enter the budget period information (year, period, and projected sales).
    Field Details
    Fiscal Year Indicate the fiscal year from the drop-down.
    Select a Period Select the period that you wish to create a budget. Only periods with no saved budget will be on the list. To edit an existing budget, select from the list on the left.
    Projected Sales Indicate the budgeted sales for the period.


  4. Detail the budgeted amounts per account. Use a template to speed entry.
    Field Details
    Account Name Indicate the Chart of Account.
    Amount Enter the budgeted amount, if using a template, the percentage will be calculated as part of the projected sales.
    Percentage Either set by the budget template or you can physically type the budgeted percentage.
    Fixed For fixed costs such as rent or loan payment.
    Actualize When viewing the budget variance reporting the actualized budget values will be set as the actual values. No need to enter invoices for these types of expenses to get this type of reporting. This offers a quick snapshot of your store.


  5. When finished, click "Save".
    TIP: You can enter the amounts manually or use the budget template to set percentage sales and expenses for quick budgeting by simply entering your projected sales.