Before getting started...
We recommend watching this quick training video (2 min), which gives a brief and strong understanding on how to enter employees in Budgeto. Learn how to use the quick edit menu, hire employees, identify their first month of work and manage their salary on an annual or monthly basis, and keep track of your budgeted employees for any month within your financial forecasts!
Become a Budgeto expert by watching the other videos available! These training videos can be found in our Multimedia Gallery (Be sure to check back often, as more videos are in the works!).
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EMPLOYEES: The menu "Employees" allows you to hire employees, to identify their first month of work and to manage their salary on an annual or monthly basis.
An employee is a person who is hired to provide services to a company on a regular basis in exchange for compensation and who does NOT provide these services as part of an independent business.
IMPORTANT There are two exceptions when adding an employee;
- Consultants and subcontractors
Consultants and subcontractors are not exclusive resources to your company, i.e. they have different customers to whom they provide services. Their cost should not be budgeted using the menu "Employees" but in the menu "Expenses".
For example, a graphic designer should be budgeted under the category "professional fees" of the menu "Expenses". Think about using the "Save & copy" function.
When an employee is hired only to produce goods for sale, it is called production labor, i.e. that the labor is directly related to a production process. You do not need to add them to your list of employees since their employment is directly related to the fact that you are manufacturing because you have sales. Therefore, you would add them to your "Cost of sale" when adding a sale.
No sales = no production = no production labor.
How to enter your first EMPLOYEE entry
During your first visit, your EMPLOYEES section will be empty (even if you have imported some accounting/historical data).
PRO-TIP: Don't stop at just one employee, you can enter as many employees as you want into Budgeto! Multiple employees entered will help make your financial reports more detailed.
Click here to access this section within the Budgeto app
1- DEPARTMENT: Add/create a department for your product (Accounting, Sales, Finance, etc.).
2- JOB TITLE: This is the position held by each employee. For example: president, assistants, accountants, programmers, sales representative, etc.
3- NAME: This is the full name of each employee, If you do not have this information, you can write, "Employee 1,” "Employee 2,” etc.
4- HIRING MONTH: This is the first month of work of the employee.
5- TERMINATION MONTH: This is the last month of work of the employee.
6- SALARY: comprised of the employee's annual gross salary that they earn as well as the Wage costs which are the % of employer contribution payable by the company to the Government on top of each employee's gross salary. Use the "Change default rate" button to the right of Wage costs to change the value if needed (for example, in the case of a shareholder of the company).
7- INFLATION: This is your employee's salary annual inflation increase, in percentage (%). You will also have to select which month the inflation begins (for example, the employee will receive a 4.5% raise after two years of employment).
8- HYPOTHESIS (Comments): This space is intended to write useful information about the EMPLOYEE. This information will be available to all of whom you share your budget with. Note that when you export your budget, this information will not be available in the PDF and the Excel.
9- GRAPH: This is a visual representation of the employee's total expense schedule (including Salary, and Wage costs) that you entered into Budgeto.
10- NAVIGATOR: Use these arrows and drop-down menu to quickly navigate/shift from one sales record to another.
11- SALARY CALCULATOR: This is a helpful calculator tool that helps you calculate the salary of an employee who works by wage (for example, Employee A earns $20.00 an hour and works 40 hours a week. Therefore, they earn a yearly salary of $41,600.00)
12- SALARY SCHEDULE: This is the annual/monthly salary of the employee over how many years your budget is. Once your information above is entered, the schedule will fill automatically. You can manually modify the data entered into this grid (for example, if you hire employees only during the summer, you would erase all data entered except for the summer months of June-August).
IMPORTANT Don't forget to press on SAVE once you are done.
PRO-TIP Click on the arrow to the right of the word "SAVE" and select "Save & copy". This will allow you to save your current entry, and then bring you to a new entry page, where all the previous information is already entered.
This will allow you to make small modifications to the NEW current entry, without having to refill every box again.
How to edit your employees form
1- ADD, SAVE: Click here to add a new employee entry and to save any work being done in this menu.
2- EDIT, YEARLY, MONTHLY: Change the date layout of your employee data.
3- ACTION: Click here to quickly copy, delete, or edit any employee entry.
4- DRAG: Click and drag employee entries to quickly move them into other departments and/or their order.
How to use the Quick Edit menu
This menu offers three distinct display modes:
Allows you to make quick changes to all your records without having to enter into each form individually
View your budget on an annual basis
View your budget on a monthly basis
- For additional features, you may access the detailed form for each record by clicking on the pencil (in EDITING mode) or on the name of the record (in ANNUAL or MONTHLY view);
- You can easily replace / create new departments or categories by typing the desired name in the box and then save;
- Whenever you make a change to a record in EDITING mode, you can immediately see the impact in ANNUAL or MONTHLY view without saving your data;
- If you want to access a form or exit this menu, you must save your changes!
These buttons allow you to perform quick actions in EDITING mode:
Example of a cashier employee
Situation: Company XYZ recently hired a new employee. Here is some information:
- The employee was hired as a cashier.
- The cashier's name is Joe Smith.
- They were hired on January 2020 with no potential termination date.
- Their base salary is $29,120.00 ($15.00/hour, 40 hours a week).
- Their Wage costs are 13%.
- They will receive a 2% raise every year of employment.
Here is how the situation will be entered into Budgeto
Example of a seasonal employee
Situation: Company XYZ needs extra help during the Christmas season, the busiest time of the year. Here is some information:
- The employee was hired as a seasonal clerk.
- The employee's name is Adam Tremblay.
- They were hired on November 2020 with no potential termination date.
- The employee is re-hired every year for the Christmas season.
- They only work during the Christmas season (November-December).
- Their base salary is $29,120.00 ($15.17/hour, 40 hours a week).
- Their Wage costs are 13%.
- They will receive a 4% raise every year of employment, starting on their third year.
Here is how the situation will be entered into Budgeto
Now that you have finished entering all your employee's information into Budgeto, it's time to move on to your assets.
The menu "ASSETS" is split into two sections;
Assets are essential when building a budget, it's important not to forget about them. The assets that you enter will be reflected in your balance sheet. Get started with these article from our Knowledge Base:
Need help? These resources are for you!
1- There is a search bar at the top right of the screen, use it often!
Use words that you see on the section you are dealing with in order to search for related articles in our Knowledge Base.
2- If you haven't found an answer to your question, create a support ticket and our team will find an answer for you:
Click here to create a new ticket for help
3- If you have any other questions about Budgeto, write us an email at: firstname.lastname@example.org
Happy Budgeting and know that we are here for you if you need help!
The Budgeto Team
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Related Articles (Please refer to the links below)
- How to enter assets (Capital assets and Investments)
- I'm new to Budgeto, where to start?
- What to do if I have a question/Customer support