How to add a new department, categories, and expense management
Modified on: Fri, 8 Oct, 2021 at 1:20 PM
Before getting started...
We recommend watching this quick training video(3 min), which gives a brief and strong understanding on how to enter expenses in Budgeto. Learn how to use the quick edit menu, and how to enter your expenses by syncing with a supported bookkeeping software and keep track of your budgeted expenses for any month within your financial forecasts!
If you are connected to QuickBooks Online (QBO), Budgeto will read expenses and categories in your accounting software and will reuse them into Budgeto automatically. Be sure to review your Chart of Accounts (COA).
PRO-TIP We recommend reviewing these newly added expense categories to make sure they are labeled correctly with the appropriate associations.
Manually enter new department, categories, and expense
If your company uses a certain kind of expense that is not already installed into the Budgeto app by default, you can create it from the main Expenses page menu. Follow these instructions to know how:
1- Click on the Expenses menu from the left side menu;
2- Click on the Departments, categories and expenses management button;
3- Take note that there are two icons in this menu:
The Budgeto icon are Pre-loaded Budgeto entries (you cannot modify these)
The User icon are user custom entries (you can modify/delete these)
4- Navigate this menu using the following buttons:
Click here to add a new Department.
Click here to add a new Expense Category.
Click here to add a new Expense Type.
Click here to delete a Department.
Click here to delete your own custom Expense Category (cannot delete Budgeto expense categories).
Click here to delete your own custom Expense Type (cannot delete Budgeto expense types).
Click on the SAVE button to keep all modifications made.
Why can't I delete my own custom expense categories/types?
It can happen where your own unique expense categories/types are "grayed" out and you cannot delete them. This is because the current category/type is in use and MUST BE REMOVED FROM YOUR BUDGET.
Once you have deleted the forecasted entries using this category/type, you can return to this menu and click on the trash bin icon to delete it.
Can we create a budget by department?
Unfortunately, no. This Feature is not available.
Budgeto supports the concept of department for each section (i.e. sales, expenses, or employees). However, you cannot display a P&L, or other financial forecast per department.
What can you do? You could create and use different budgets/scenarios for each department. Ex: one Master budget (locked), a master budget (unlocked), and budgets based on departments (HR, Accounting, Marketing). This way, employees can work only in their departmental budget. Make sure you have the multiple scenarios option included in your Budgeto subscription.
For more information, consult the following articles from our Knowledge Base: