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Associate Accounts with Budget Codes


1 comment

  • David Fournier

    Hi Saranya Detintaranaruk,

    Thank you for your query.

    Budgets (&/or Forecast &/or Plan values) are loaded against a specific Account by Department or Division as outlined here:

    Adaco: Creating or Importing a Budget or Forecast or Plan

    The Budget Code is a way of grouping Account values on reports such as the Adaco: Checkbook Accounting Report or Fourth Analytics Adaco: Budgets. Our recommended best practice is to align Budget Code names with the sections of the company's P&L that are relevant to the usage of Adaco (ignoring Revenues, Payroll & Related expenses, etc.), e.g.:

    • Balance Sheet (Assets/Liabilities)
    • Cost of Sales
    • Other Operating Expenses
    • Utilities
    • Management Fees

    For example, there would be a Budget/Forecast/Plan loaded for the individual Accounts of China, Glass, Silverware, & Linen which can be viewed when approving Purchase Requisitions per Account; the reports will then also subtotal the above 4 accounts plus any additional accounts with the 'Other Operating Expenses' Budget Code set.

    A single Account can only have one Budget Code set against it but a single Budget Code is usually associated against multiple Accounts, in line with the P&L Statement.

    Please let us know if you have any further questions on this topic.





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