{"id":2358,"date":"2020-04-27T17:07:00","date_gmt":"2020-04-27T16:07:00","guid":{"rendered":"https:\/\/support.ospreyapproach.com\/?post_type=pracctice_guide&#038;p=2358"},"modified":"2024-07-10T09:30:54","modified_gmt":"2024-07-10T08:30:54","slug":"set-up-and-use-budgets","status":"publish","type":"pracctice_guide","link":"https:\/\/ospreyapproach2022.wireddemo.co.uk\/support\/guides\/set-up-and-use-budgets\/","title":{"rendered":"Set Up and Use Budgets"},"content":{"rendered":"<div class=\"card\">\n\n    <p class=\"mb-2\"><strong>Who is this guide for?<\/strong><\/p>\n    <p class=\"mb-0\"><i class=\"far fa-user fa-fw mr-2\"><\/i> <strong>Accounts Users<\/strong> and <strong>Accounts Supervisors<\/strong><\/p>    \n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">You can produce a budget report for your firms accounts if budgets are set up. This guide will show you how<\/h2>\n\n\n\n<p class=\"h2 wp-block-paragraph\">Set up your budgets<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Navigate to the Nominal Ledgers area, and choose Budgets from the sub menu:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"316\" height=\"291\" src=\"https:\/\/support.ospreyapproach.com\/content\/uploads\/sites\/2\/2024\/05\/image-634.png\" alt=\"\" class=\"wp-image-67689\" srcset=\"https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-634.png 316w, https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-634-300x276.png 300w\" sizes=\"auto, (max-width: 316px) 100vw, 316px\" \/><figcaption class=\"wp-element-caption\"> <\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Use the Accounts List button to select the nominal you want to add a budget for:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"408\" height=\"118\" src=\"https:\/\/support.ospreyapproach.com\/content\/uploads\/sites\/2\/2024\/05\/image-635.png\" alt=\"\" class=\"wp-image-67690\" srcset=\"https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-635.png 408w, https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-635-300x87.png 300w\" sizes=\"auto, (max-width: 408px) 100vw, 408px\" \/><figcaption class=\"wp-element-caption\"> <\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You may also want to set a budget for Fees (JNLFEES) and Write Offs (JNWOFFS) by selecting one of the accounts below:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"734\" height=\"251\" src=\"https:\/\/support.ospreyapproach.com\/content\/uploads\/sites\/2\/2024\/05\/image-636.png\" alt=\"\" class=\"wp-image-67691\" srcset=\"https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-636.png 734w, https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-636-300x103.png 300w\" sizes=\"auto, (max-width: 734px) 100vw, 734px\" \/><figcaption class=\"wp-element-caption\"> <\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Once you have selected the required account, you can use the Add\/Edit Budget button to begin setting your budget:<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"442\" src=\"https:\/\/support.ospreyapproach.com\/content\/uploads\/sites\/2\/2024\/05\/image-637.png\" alt=\"\" class=\"wp-image-67692\" srcset=\"https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-637.png 512w, https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-637-300x259.png 300w\" sizes=\"auto, (max-width: 512px) 100vw, 512px\" \/><figcaption class=\"wp-element-caption\"> <\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Select the Year you want to set the budget for. You can select any year past or future which has its dates set up within Osprey.<br> <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you have an annual figure for your budget you can enter it here, then press the Calculate button, which will split the budget equally between the 12 periods. Alternately you can add each month\u2019s figure individually.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"717\" height=\"566\" src=\"https:\/\/support.ospreyapproach.com\/content\/uploads\/sites\/2\/2024\/05\/image-638.png\" alt=\"\" class=\"wp-image-67693\" srcset=\"https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-638.png 717w, https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-638-300x237.png 300w\" sizes=\"auto, (max-width: 717px) 100vw, 717px\" \/><figcaption class=\"wp-element-caption\"> <\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"h2 wp-block-paragraph\">Run the Budget Analysis report<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can now use the Budget Analysis report (Reports &gt; Financial Management) to report on the actual and budget figures.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"451\" height=\"348\" src=\"https:\/\/support.ospreyapproach.com\/content\/uploads\/sites\/2\/2024\/05\/image-639.png\" alt=\"\" class=\"wp-image-67694\" srcset=\"https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-639.png 451w, https:\/\/ospreyapproach2022.wireddemo.co.uk\/content\/uploads\/sites\/2\/2024\/05\/image-639-300x231.png 300w\" sizes=\"auto, (max-width: 451px) 100vw, 451px\" \/><figcaption class=\"wp-element-caption\"> <\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Select a branch if required or leave on All for all branches.<\/li>\n\n\n\n<li>Select a department if required or leave as All for all departments.<\/li>\n\n\n\n<li>Choose a currency if required<\/li>\n\n\n\n<li>Choose the Year number to report on.<\/li>\n\n\n\n<li>Choose either Quarterly or By Period. The latter option will then prompt for a period to display.<\/li>\n\n\n\n<li>Show Summary \u2013 when ticked, this will total all SACs for a nominal together in one figure. When unticked, the report will display each nominal SAC separately.<\/li>\n\n\n\n<li>Hide Zero Budgets \u2013 when ticked, any nominals that do not have a budget set will not be shown on the report.<\/li>\n\n\n\n<li>Ordering \u2013 choose either Account ID (Nominal code) or Account Name (Nominal Description) to choose the order in which your nominals will display.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>You can produce a budget report for your firms accounts if budgets are setup.<\/p>\n","protected":false},"author":23,"featured_media":0,"template":"","categories":[54],"tags":[],"class_list":["post-2358","pracctice_guide","type-pracctice_guide","status-publish","hentry","category-using-reports"],"acf":{"display_as_dashboard_announcement":false,"announcement_title":"","announcement_type":"New feature","announcement_link_text":"Learn more","announcement_image":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Set Up and Use Budgets - Osprey Approach Customer Support &amp; Training | Osprey Academy<\/title>\n<meta name=\"description\" content=\"You can produce a budget report for your firms accounts if budgets are set up. 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