Budget Report

The budget Report is used to compare planned budget amounts against actual financial performance. It helps monitor spending, track variances, and support financial planning and decision-making.

Prerequisites

1. Microsoft Windows 10 Pro, Windows 11 Pro, or Windows terminal server (2012 and above)
2. Microsoft Office 365
3. Sage 50 US edition (2021 and above) 
4. Internet connection

What the Report Does

This Report summarizes budgeted amounts by month and in total across revenue and account categories. It helps monitor financial performance, compare budget allocations over time, and analyze trends in revenues and expenses.

How to Use the Report

Step 1: Select the month (D9), Year (D10), and the budget (D11).

Step 2: Click Refresh on the XLGL ribbon.

Step 3: Click Go to Income Statement Budget Report... to review the Report.

Customization Options

1. Adjust the desired year in the Parameters sheet to generate data for a different period. 
2. You may show all the account IDs by unhiding column B.

Common Use Cases

1. Compares budgeted amounts with actual spending to identify variances.
2. Tracks and monitors expenses across departments or projects.
3. Supports planning and cost control for better financial management.

Troubleshooting

Issue: No data is populated.
Solution: Verify that the input parameters are correct and that the selected date range contains existing records.

FAQs

Q: No value is showing even after a refresh. What should I do?
A: Compare the Report with the Sage 50 built-in financial Report to check if there is data within the selected time period.

Best Practices

1. Save a backup copy of the Report before making significant changes.
2. Regularly review the Report to track progress and identify trends early.
3. Customize the Report to focus on key performance indicators relevant to your business.