Learn how the different formula types work, and how to build them.
Budgyt is built to be more robust than a spreadsheet, and also easier to follow and all changes are tracked. Because of the way we built Budgyt, our formulas are set up slightly differently to the way they are on a spreadsheet.
You don't need to learn any coding or syntax, all formulas are created using simple forms and dropdown menus.
There are 3 main types of formula.
- C2C - stands for Category to Category, and is a formula where the data in one category/account is the result of 2 or more other categories being operated on (in a mathematical sense).
- FOA - Function Of Another. This allows us to introduce an outside variable directly into a calculation on another category (really a simpler version of the C2C)
- Rules - If > Then > Else calculations.
This is how they work:
- C2C - To create a new C2C, go to Data/Formulas > Manage C2Cs > Add New.
- Here you can name your formula, and choose the year to which it applies.
- Choose your Target Category
- Choose the type of calculation
- Choose the source categories that you will operate on.
- Add comments if you wish.
- We can also consolidate data from multiple Departments/Business units into one using the C2C function, for more detail on this click here.
- FOA - To create a new FOA, go to Data/Formulas > Manage FOAs > Add New.
- Follow the first 3 steps as for C2Cs.
- There is an extra calculation type - Eliminate/Allocate - to learn more about this, click here
- This time, after you select a source category(s), you will see a grid appear. Here you can check which departments the formula applies to and enter an external variable, which may be different for each month and each of your departments. If it is the same for all, check the "Single Fixed Value..." field and input the quantity.
- Rules - To create a new rule, go to Data/Formulas > Manage Rules > Add New.
- Follow the first 3 steps as for C2Cs.
- Here you can compare categories, and perform operations on them if they agree with your rule.
Ordering (this is important, please read)
Be mindful of the order in which your formulas are created. They are calculated in the order that they appear on the Manage C2C and Manage FOA screens, so if you have a formula that uses the result of another as one of its source categories, the formula that creates that result must come first.
Also, ALL C2C formulas are calculated before any FOAs. This means you cannot use the result of an FOA calculation as a source for a C2C. The Rules are calculated after the FOAs.
If you have built any formulas in the wrong order, Budgyt will alert you to this by outlining the offenders in red, you can reorder them by clicking the Reorder button (the up/down arrows) at the right of each row, then just drag and drop each formula to the correct location.
If you need help setting up any formulas, you can email us at support@budgyt.com