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!
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!).
Click here to access the Budgeto Multimedia Gallery
EXPENSES: This is where you'll forecast all the expenses that are not directly related to your product sold. An expense is a cost that is paid in exchange for goods or services. The purchase of a capital asset such as a building or equipment is not an expense.
Some examples of expenses include:
- Office supplies;
- Electronic equipment;
IMPORTANT Employees are NOT an expense.
For more information about Employees, and how to enter them in Budgeto, take a look at the following article from our Knowledge Base: How to enter employees
How to fill the EXPENSES
During your first visit, your EXPENSES section will be empty (unless you have imported some accounting/historical data).
PRO-TIP: Don't stop at just one expense, you can enter as many expenses as you want into Budgeto! Multiple expenses entered will help make your financial reports more detailed.
Click here to access this section within the Budgeto app
ADD: This is where you Add a new expense.
Consult the PDF (located at the bottom of this article) for a list of all the expenses available by default in Budgeto.
Your first expense entry
1- DEPARTMENT: This is where you can associate an expense to a department (accounting, marketing, HR, etc.). You can manage departments using the Expenses Categories (13) option.
2- CATEGORY: This is the list of categories of expenses available. You can manage categories using the Expenses Categories (13) option.
3- EXPENSE: This is the list of expenses for each category. You can manage expense using the Expenses Categories (13) option.
4- COMMENT: This is a filed to insert a comment for each expense. This field is optional.
5- AMOUNT: This is the total amount ($) of each expense for the chosen frequency.
6- FREQUENCY: This is the frequency of occurrence of each expense (per month/per year/unique-one time only)
7- STARTING IN: This is the first month of occurrence of each expense
8- ENDING IN: This is the last month of occurrence of each expense
9- PAYMENT TERM: This is the number of days you have to pay your suppliers after receiving goods or services. You have the choice of up to 12 months before, or up to 12 months after
10- TAXABLE: Check this box if you can get a refund for the sales tax paid when buying goods or services.
11- INFLATION: This is your expenses annual inflation increase, in percentage (%). You will also have to select which month the inflation of your expense begins.
12- GRAPH: This is a visual representation of the expense schedule you entered into Budgeto.
13- DEPARTMENTS, CATEGORIES, AND EXPENSES: This will bring you to the Expenses Department/Category menu.
Read the following article from our Knowledge Base on how to add your company's own unique expense(s):
-How to add a new Department/Category/Type in the expense form/chart of accounts (COA)
14- NAVIGATOR: Use these arrows and drop-down menu to quickly navigate/shift from one expense record to another.
15- SAVE: Click here to save your current work/entry
16- HYPOTHESIS: This space is intended to write useful information about the product. 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
17- PLANNING: If you want to manage your schedule manually. Note that if you change any values from steps (5), (6), or (7), the schedule will erase the amount you input manually.
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 modify your expenses
1- ACTIONS; Click here to copy, delete, or edit the selected expense.
2- DEPARTMENTS,CATEGORIES AND EXPENSES: Click here to customize/add your own expenses and departments.
3- DRAG; Use this icon to click and drag your expenses. Easy and simple to move them into different departments, categories, or order.
4- ADD; Click here to add a new expense.
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 SaaS Finance Expense
Situation: Company XYZ recently subscribed to a SaaS service for their CRM tool:
- They will use the software for 5 years (June 2021- July 2025).
- The SaaS tool is $200.00/month.
- There will be a 10% inflation every year (Beginning on June 2022).
- Payment term is 1 month after.
- It is taxable
Here is how the situation will be entered into Budgeto:
Example of a donation/charity gift
Situation: Company XYZ makes a donation to a local charity (Helping Hands) during a fundraising event. Here is some information:
- The donation was for $1,000.00
- The donation was made in August 2021
- It is a one time event (only made one donation)
- There are no payment terms
- There are no taxes
IMPORTANT A donation made is located in the "Social costs" category and the expense is labelled: "Donation & Sponsorship". In this example, the department will be "Finance"
Now that you have finished entering all your expenses information into BUDGETO, it's time to move on to your employees (a person who is hired to provide services to a company on a regular basis in exchange for compensation).
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.
Employees are just as important as expenses when building a budget. Get started with this article from our Knowledge Base:
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Related Articles (Please refer to the links below)
- How to add a new department, categories, and expense management
- I'm new to Budgeto, where to start?
- What to do if I have a question / Customer support