Budget Management
How it works
Budge is set up every year and updated every quarter (3months). Yearly financial budget is created by December 20 and share with the company staff. Every 3 months, the budget is reviewed and updated by the 20th day of the previous month of the quarter.
Creating a budget on Xero
Go to Xero and choose Budget Manager.
https://gyazo.com/e2f2a5ac028b07906ad4b2c96760912e
Within the budget manager, fill in the form to create budget.
https://gyazo.com/764a2f0f61fa790a3fc8c218ab818903
Reviewing budget and actual
https://gyazo.com/7c9512f69fbe56f648f3ed002b127fcb
For the comparison of budget/actual variance, go to Budge Variance and check. https://gyazo.com/c014c356b33def46e910f1893b0c1ce4