At the start of every month, your first priority will more than likely be to close out the numbers from the previous month.
Once the numbers are approved, it's a good idea to import them into Budgyt so that you can compare your actual numbers to your budget forecast and share with all your users.
The most common setup that our customers use for their budgets is to have a budget that is locked, that has the previous year's actuals (e.g. Actual 2019), a budget with the initial budget numbers from the start of the current year (e.g. Budget 2020), and a budget into which they import each month's actuals as they are available (Actual 2020) and maybe a forecast that contains part actuals and part budget - to learn how to create this, click here.
This allows an easy comparison of the current year's progress to the expectations at the start of the year, and also to last year's numbers.
Performing this import in Budgyt is simple.
If you use one of the accounting systems that we are linked to (Quick Books Online or Xero) then you go to Import/Export > Xero/Quickbooks, login, and hit the import data button.
If you do not, then we will probably have created a conversion template for you which will transform the GL export from your accounting system into the .csv format that we import. Once you have saved that csv import file, go to Import/Export > Manual, choose the General Ledger Import Periods as Row option from the drop down then:
- choose the csv import file you just saved from your hard drive.
- select the budget, year, and month(s) you to which you wish to import.
- check the Overwrite Data box if you wish the new data to replace the data that currently resides in your target periods
Now click Next at the bottom of your screen. The next screen will check that your column headings match the required import headings. if they don't, you can choose the right headings from the corresponding drop down menus.
Click Next again, and Budgyt will check your import file for errors. Depending on the format of your GL export there will may be some errors due to the way we converted that export into our csv file.
Click Submit, and your data will be imported - an excel import report will be generated which will show you which lines were imported and which were not, and why.
It is VERY important that all data in the .csv file is formatted as General. If it isn't, the file might not be read correctly. To do this, select all the data in your .csv file, and select the format cells option, then choose General.
Once you have completed the import, you should lock that month, so nobody can change the numbers. To do this, go to Budgets > All Budgets, select edit on the budget that you are working with, and check the box for the month you just imported.
For more information on imports, click here.