Budget is a quantitative measurement plan used as a tool for deciding/estimation costs, revenue and resources over a specific period. Million allow users enter budget figure for P&L Accounts up to 24 months. User able compare budget figure and actual figure using Profit and Loss Report by selecting budget report format. Report shown variance figure if transaction figure is different from the budget.
Below are the overall content for this topic:
Step 1: Enter monthly budget
Step 2: Enter cash book payment
Step 3: View Profit and Loss Report
Step 1: Enter monthly budget
Table 1: Monthly budget for April and May 2023
1. Go to General and select Miscellaneous then Budget
2. Enter budget according to Table 1
3. Click on Save
4. Click on OK
Step 2: Enter cash book payment
Table 2: Cash book transactions
1. Go to General and select Cash Book then Payment
2. Click on Add
3. Enter record according to Table 2
4. Click on Save A/C
5. Click on Save
6. Continue to enter next record according to Table 2
Step 3: View Profit and Loss Report
1. Go to General and select Profit and Loss Account
2. Enter the filter details according to the table provide
3. Click on Print
4. Click on Preview
The outcome of the report is as follows:
