Re-profiling a Budget Spend/Income
Budgeting in ExpensePlus
Typically churches and charities have 12 months in their financial year. Most budgets are profiled in a linear way (1/12 of the total budget each month).
But in ExpensePlus you can profile this however you wish, and even re-profile/re-apportion the total budget during the financial year.
For example, you may profile event income as having an expected budget of £12k as linear, but if in month 1 you get 6k, you may wish to go back and reprofile (unless you believe and want the forecasted total to be much higher than the annual budget).
When and how to re-profile a budget
You can continue to re-profile other months as well, throughout the year, based on the information available, WITHOUT changing the signed off-budget amount for each category.
Linear and custom budgets
You can switch between Linear and Custom budgets by clicking on the 'Linear' or 'Custom' label in the second column. Where you are switching between these two profiles, ExpensePlus will offer you the option of how you want to switch:
- whether to convert the existing figures, or
- whether to move the total to a single month, or
- start from scratch.
You can then edit budget figures as needed:
- enter annual totals for linear budgets, and ExpensePlus will automatically calculate the monthly allocation, or
- enter monthly figures for custom budgets, and ExpensePlus will automatically calculate the annual total.
To better understand the Finance Reports module, please view the module overview video here.