How To Generate a Budget Report
A budget comparison report compares budgeted income and expenses, and actual income and expenses over a specific period of time. By comparing budgeted and actual, a more accurate budgeting system can be developed over time to meet Free Geek's specific needs. The goal is to minimize the gap between budgeted and actual, so net income can be more predictable.
The purpose of the instructions is to assist in creating a simple and uniform report for any time specific time period. The report was formatted with the intentions of being easy to understand and print. The process begins using GnuCash. The information obtained in GnuCash is then exported into a Gnumeric file. In Gnumeric the report will be formatted and completed. Steps 1-5 is strictly for numeric and information purposes. Step 6 is for the presentation and aesthetic purposes.
Step 1: Inputting the Budget Into GnuCash
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Step 2: Creating a Budget Report in GnuCash
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Step 3: Exporting the Budget Report into Gnumeric
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Step 4: Formatting Budget Comparison Report
Delete all columns containing information of months irrelevant to your specific report. In this case, all but one month data should be deleted. In the cell on the right of the the cell labeled "Act" type "Difference". Change all text to black and undo word underlining. Drag or move column A to the far left. Delete data in "Bgt" and "Act" pertaining to "Income" and "Expenses".
Insert a row between the last income category and "One Time Income". In the new row, type in column A "Income (w/o one time)". Change "One Time Income" to "Total One Time Income". Insert rows needed under "Total One Time Income" to show specific sources of one time income. The total amount of one time income should still be seen in the "Total One Time Income". Insert two rows above row with "Expenses". Under "Total One Time Income" type "TOTAL INCOME".
Insert a row above "One Time Expenses" and name it "Expenses (w/o one time)". Change "One Time Expenses" to "Total One Time Expenses". Add rows under "Total One Time Expenses" to break down and show specific one time expenses. After the last one time expense type in column A "TOTAL EXPENSES". 2 rows down type in column A "TOTAL NET INCOME". Another 2 rows down insert "NET INCOME (w/o one time)".
Step 5: Calculations in Budget Comparison Report
All formulas can be used for actual and budgeted.
- Income (w/o one time) = sum of income (DO NOT include one time income)
- TOTAL INCOME = Income (w/o one time) + Total One Time Income
- Expenses (w/o one time) = sum of expenses (DO NOT include one time expenses)
- TOTAL EXPENSES = Expenses (w/o one time) + Total One Time Expenses