Upcoming Product Features
Q1 2021- Major launch: "Click-Click Boom" Update
We just released what we call internally the "click-click boom" which fills up Budgeto's forms directly from your existing QBO/Xero Historical data. This is a major improvement! With just a few clicks, you will be able to create 80% of your budget based on your past!
We also drastically upgraded the management, editing, and sorting of the expenses/categories. More information can be found below!
We have been constantly developing and improving Budgeto over the last 5 years, with more than 65,000 budgets from all over the globe generated through our platform.
Take a look at all our upcoming features and improvements currently in development!
Adding Assumptions, Legends, and Table of Contents in your Reports
New Functionality for Historical Data Use
An upcoming feature concerning historical data use is the ability to apply the historical data by budget instead of the whole company. This way, you will be able to maintain one budget on its own, while working on another budget that continuously uses updated historical data.
New Functionality for Manual Variations
Similar to the new functionality for historical data use, you will soon be able to apply manual variations by budget instead of for the whole company.
Redesign of the forms
We will redo this module to:
- Be able to change sales price in time;
- Be able to change cost of sales in time;
- Be able to apply an annual inflation to sales of previous years;
- Apply a % per month of an annual sales objective.
We will redo this module to allow:
- Automatic re-order of inventory;
- Automatic consumption of inventory with a minimum re-order level;
- Multiple payment terms (% # months before or after a transaction).
We will redo this module to allow:
- Automatic investment and/or expense trigger when hiring a new employee;
We will develop tags that can be used in each form to allocate a transaction to a tag. These tags can be projects, sales representatives, sites, etc. A new reporting menu will allow you to see all transactions linked to one or more specific tags.
Reports - Quarterly View
As of now, Budgeto offers the ability to view your financial projection reports (Profit and Loss, Cash Flow, Balance Sheet) either monthly, or yearly. However, we are working on implementing a new feature that will allow users to have access to a quarterly view in addition to monthly and yearly.
New Functionality for Tracking Variable Costs
Currently, Budgeto does not have a method for tracking variable cost. Currently, variable costs are added as fixed elements that cannot be changed in the cost of sales:
- These lines must always be displayed by default;
- The customer can continue to add modifiable lines as they please, which will all go into a line in the Profit and Lost Statement, called "Other variable costs" (as is currently the case in sales).
Our technical team is working on improving the functionality of variable costs by including options as: Labor, Raw Material, Shipping and Logistics, etc.
Redesign of the Profit and Loss Statement
As seen above with "Variable Costs", this new functionality will come with a new presentation of the financial information in the Income Statement. We will add “Production costs” between the “Variable contribution margin” and the “Fixed costs”, allowing us to present a new “Gross margin”.
New upcoming feature allowing the ability to apply a currency and a specific exchange rate in a form. This way, users will be able to apply different currency types in various forms without changing the main currency used for the company. For example, a company is located in Canada, but sells products in Mexico and has to use pesos as the currency type implemented.
General product improvements recently implemented
For more information on the budget lock/unlock feature, be sure to read this article from our Knowledge Base:
- How to use the Budget Lock/Unlock feature
“Click-Click Boom” feature (automatic form filling)
We have been working hard on making the QBO/Xero synchronization process more intuitive. We have released what we call internally the "Click Click Boom", which fills up Budgeto's forms directly from your existing QBO/Xero Historical data. This is a major improvement! With just a few clicks, you are able to create 80% of your budget based on your past!
It allows entrepreneurs to not only build a budget, but also easily maintain their projections by automatically importing historical data from their bookkeeping software month after month.
New "Analysis" Feature (Real vs. Budget)
With multiple scenarios built from your main budget + historical data, you are now able to use our new comparison (Analysis) function! Compare your worst case and best case scenarios, or compare your budget to your actual results and see the difference with your numbers!
This module will allow our users to document and provide an explanation for important differences, to prepare management reports for your different partners, etc.
New contextual help "?" icons
We have implemented and modified all help icons "?" in the Budgeto app.
These new help icons contain more in-depth knowledge concerning what section of the app you are using, and the necessary information that will need to be added. In addition to this, when needed, we have also included links to detailed articles that have even more information concerning which part of the Budgeto app our users need additional support in. These redesigned contextual help "?" icons can be found all throughout the app, but the major ones are located at the top of each section, to the right of the page title. Give them a look!
Redesigned Knowledge Base (KB) articles
Our team has went through and redesigned ALL of our 100+ Knowledge Base (KB) articles (in English and French) on Budgeto's support website. These new and improved articles contain not only new and helpful information, but additional screenshots, training videos, and numerous examples. Our goal with these redesigned information-oriented articles is to give our users the power to learn and use Budgeto all on their own! Give a quick look at some of the now superior articles:
- I'm new to Budgeto, where to start?
- Budgeto Multimedia Gallery
- How to enter sales
- How to enter expenses
Take some time and explore our Knowledge Base in its totality. You might just learn something new! Click here to access the Knowledge Base website
Improved Historical Balance Sheet Forms
Our team has noticed that some of our users felt confused when working in their historical balance sheet. Notably, the four forms that need to be filled out with the appropriate information (capital assets, investments, debts, and share capital). Before, users could experience "errors" in their balance sheet and was unsure on how to fix them. Our technical team has worked on improving these forms by helping our users understand where these errors are located if they experience a red cell warning. When completing these forms, users can now see their $ totals at the bottom of the forms, the date, and the difference between the amount entered in the balance sheet and what's entered in the forms.
New Sales-Growth Feature (non cumulative)
As requested by our users, we have implemented a new feature when adding a product/service using the growth method. Budgeto users can now choose "per month (non cumulative)" as their frequency option. This new option will allow you to modify the sales planning where you can include a % growth per month, without experiencing recurring clients every single month. An excellent option for those who wish to sell products to a one-time customer as a one-time sale.
New feature allowing to apply an inflation rate per year (in $ or % with a starting month) that will automatically adjust the values in the 60-month grid.
Multiple payment terms
New feature allowing the user to create its own custom payment terms. User will be able to allocate a % # months before or after a transaction.
New feature allowing to apply an ending month to a sale or an expense.
Editable sales tax
New feature allowing to manually overwrite the default sales tax rate in a form.
Graphics in the forms
We have added graphics in the forms to better visualize the impact of your decisions and assumptions.
Salary calculator (based on salary per year, month, week or hour)
We improved this module to be able to plan capital assets in a grid of 60 months instead of a single amount per month (like the expense menu).
We improved this module to be able to plan the investments of the shareholders in a grid of 60 months instead of a single amount per month.