Budget Procedures - Revision history

Mkille at 20:37, 17 May 2013

2013-05-17T20:37:49Z

Rfs at 21:10, 6 July 2010

2010-07-06T21:10:47Z

Rfs at 20:13, 24 December 2009

2009-12-24T20:13:00Z

Rfs: /* Generating Reports */

2008-10-04T16:12:07Z

Generating Reports

Rfs: /* Printing Spreadsheets For Board Review */

2008-07-16T19:48:28Z

Printing Spreadsheets For Board Review

Ashley at 18:56, 18 April 2007

2007-04-18T18:56:41Z

Ashley: /* Income Budget */

2007-04-14T19:11:50Z

Income Budget

Ashley: /* Income Budget */

2007-04-14T19:09:50Z

Income Budget

Ashley: /* Expense Budget */

2007-04-14T19:06:17Z

Expense Budget

Ashley: /* Check Current Information */

2007-04-14T19:04:41Z

Check Current Information

← Older revision		Revision as of 20:37, 17 May 2013
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		+	{{cleanup}}
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	These instructions have been designed to assist in the continual budget process. The following instructions have been made with the assumption that the end user has basic knowledge of GnuCash and Gnumeric or other spreadsheet software.		These instructions have been designed to assist in the continual budget process. The following instructions have been made with the assumption that the end user has basic knowledge of GnuCash and Gnumeric or other spreadsheet software.

← Older revision		Revision as of 21:10, 6 July 2010
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	[[Budget Timeline]]		[[Budget Timeline]]

−	[[Category:Budget]]	+	[[Category: Budget]]
		+
		+	[[Category: Procedures]]

← Older revision		Revision as of 20:13, 24 December 2009
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	[[Budget Timeline]]		[[Budget Timeline]]

−		+	[[Category:Budget]]
−	[[Category:~~Finances~~]]

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 Once the budget is in GnuCash, you can start generating reports needed for the quarterly board meetings. The following links provide instructions to generate a Budget Comparison Report and other budgets in spreadsheet form.
-[[How To Generate a Budget Comparison Report]]
+[[How To Generate a Budget Report]]
 [[How to Generate Net Income and Expense Budgets in a Spreadsheet]]

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 *Press ctrl+p
 **Choose "Single" printing station and print.
 [[Category:Finances]]

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 ==Check Current Information==
 Check to make sure current income and expense transactions are in the correct accounts and accounts are up to date as much as possible.
-*Before beginning the actual budget process, make sure the books are reconciled for each month, cash box is reconciled, bills are paid, and any other steps that need to be completed to close the books each month.  If these steps can not be completed, try to get as much information in the books as feasible.  The actuals will be used to predict future income and expenses so make sure they are as accurate as possible in order to create more precise projections.
+*Before beginning the actual budget process, make sure the books are reconciled for each month, cash box is reconciled, bills are paid, and any other steps that need to be taken to close the books each month.  If these steps can not be completed, try to get as much information in the books as feasible.  The actuals will be used to predict future income and expenses so make sure they are as accurate as possible in order to create more precise projections.
 *This step should also include checking to see if some expenses deserve their own account.  For example, if there is an account that has continuous and significant expenses that may need to be separated into a new account.
 *Also keep a look out for one time expenses and income.  While looking through the transactions, check to see if there is any noticeable or large transactions that are not continuously repeated.  For example, a large expense to replace all the doors may be considered a one time expense.  But the cost of continuously maintaining the doors would be considered a regular expense.

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 *To give the individual a better idea of where income is headed, show them monthly income for the account in question for at least the last quarter.  Although, it is preferable to show them monthly data for the past year.  The individual may also have information explaining certain fluctuations in income sources that may not be a part of the general growth pattern.  It is important to note these types of past transactions as abnormal so they will not cause over- or under-estimations of income.
 *Some information will have to be based on a best guess.  One suggestion is to look at past data and try to pick up on any growth and/or seasonal patterns to help predict income.  If you want to get really analytical and technical you can find growth or decline patterns in a particular income category by:
-**(Period 2 - Period 1) / Period 1
+**(Period 2 Income Source - Period 1 Income Source) / Period 1 Income Source
 ==Inputting Budget Into GnuCash==

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 *This includes specific estimations for future projects.
 *It is preferable that budgeted information is on a monthly basis.  If estimations are not monthly then just multiply or divide to get the correct estimation on a monthly basis.
-*To give committee members a better idea of where current expenses are heading, show them monthly expenses for the committee  for at least the last quarter.  Although, it is suggested to show them monthly data for the past year.  This will give them a realistic picture of what expenses were incurred and what the money was spent on.
+*To give committee members a better idea of where current expenses are heading, show them monthly expenses for the committee  for at least the last quarter.  Although, it is suggested to show them monthly data for the past year.  This will give them a realistic picture of what expenses were incurred and what the money was actually spent on.
 ==Income Budget==