Budgets Compare Statement

Budgeting is a process. This means budgeting is a number of activities performed in order to prepare a budget. A budget is a quantitative plan used as a tool for deciding which activities will be chosen for a future time period.

In a business, the budgeting for operations will include the following:

  • preparing estimates of future sales
  • preparing estimates of future cash collections and disbursements
  • preparing estimates of the future day-to-day activities of the organization
  • summarizing these estimates into an income statement and balance sheet
The budgeted income statement and balance sheet are also known as pro-forma financial statements. Once prepared and approved, the budgeted income statement and balance sheet are used to control the future activities of the business.

  1. How to View Budgets Compare Statement Report?

How to View Budgets Compare Statement Report?

In the Account Reports menu, select Budgets Compare Statement.
a) View All Data.

1. Select Budgets.
2. Select From Date & To Date.
3. Then Click Report.

b) Report:
Demo Company
Budgets Compare Statement
Budgets : Budget for Feb. | Date : 01/02/2018 to 28/02/2018
Ledger Budget Amount Upto Previous Current Period Total Transaction Budget Balance Utilization
Administration Overheads
Business Promotional Expenses 6,000.00 0.00 4,000.00 4,000.00 2,000.00 66.67%
Conveyance 5,000.00 0.00 3,000.00 3,000.00 2,000.00 60.00%
Fuel & Oil Expenses 4,000.00 0.00 6,000.00 6,000.00 -2,000.00 150.00%
Sub Total : 15,000.00 0.00 13,000.00 13,000.00 2,000.00 86.67%