Budget versions

What are budget versions?

Monitr allows you to manage multiple versions of your budget. These budgets will be used to compare versus your actuals and to calculate your forecasts.

There Monitr allows you to define multiple types of budget:

• Initial budget: this is the budget that is used to compare versus my actuals. Typically this is the budget approved by your board.
• Active budget: this is the budget that is used to calculate your forecasts

For Monitr to function properly you need to have indicated at least one budget as 'initial'and one budget as 'active'.

The budget version table contains the folowing fields:

• Name: a unique name for the budget version
• Date: date the budget version was created in Monitr
• Initial: Toggle to indicate that a budget version is used as an initial budget.
• Active: Toggle to indicate that a budget version is used as an active budget.
• Budget Type: Indicated the source of the budget.
• Comment: optional comments

Multiple budgets can be put as 'Active' or 'Initial'. The data of these budgets will be aggregated for calculations.

Manage your budget versions

Creating a new budget version

Go to tab 'forecasts', where you can click '+ New budget version' and select the type of budget version you want to create.

Simple Budget

A simple budget is a budget managed 'here', either via CSV upload or manual input.

NWC Unwinding Budget

Net working capital unwinding (Exact Online only): forecast the cash flows related to your outstanding customer - and supplier balances.

NWC Budget

Net working capital budget: forecast the impact of payments terms of a selected budget on your cash flow.

CRM Budget

By connecting your CRM software to Monitr through (Integrations) you are able to create a CRM Budget. There are 2 options you can select to calculate your forecast based on CRM data.

1. Weighted average - Deal Value = Deal Total Value x Deal Probability
2. Probability threshold - Only deals above a certain threshold will be included

In both cases you can add a rolling window which tells Monitr how far in the future from today you want this information to be included. The default is 3 months.

Personnel Cost Budget

Overview

The main screen gives you an overview of the current situation, with the possibility to make adjustments. Manage staff by creating a new employee and adding them to a department. You're also able to adjust the period of the budget here, or choose an older personnel cost budget so you don't have to start from scratch.

Create employee

When adding a new employee you are able to indicate their gross wages, during which period she's working, and on which Budget Account we need to save this information. You're also able to add perks, like car leasing, mobile subscriptions, etc.

Organisation Settings

When will your company pay vacation money to the employee? By how money do you expect to increase employee wages? How much do you pay for social security? All of this has a direct influence on the personnel costs and can be set in the configuration.

Results

Before you save your budget you can already see the results visualized in the Results tab, so you have an indication of where the biggest costs are being made. This gives you the possibility to make changes if needed.

After going creating a new budget version you still have to adjust column 'Initial' and 'Active', and end by clicking .

You can also create a new simple budget version on the budgets page.

Changing initial and active budget

To change the budgets that are displayed in reports and dashboards:

• Adjust column 'Initial' and 'Active'.
• Click