Maintain Budget in Sage 500

By | August 31, 2020

In Sage 500, User can easily setup maintain budget for accounts. User can set up a budget for each account after defining budget types in Set up GL Options. User can work with one actual and one or two budget and review the variances in those budgets by either percentage or actual amount.

User can also view beginning and ending balances for any account as per the accounting period.

With the budget data, user can track and maintain multiple budgets for each account in your system. In Maintain Budgets display actual account balances in one column so that you can compare the budget you have projected with actually income and expenditures. Or, you might develop multiple budgets for constructing contingent scenarios based on you defining into the budget.

User can maintain budget information separately for each fiscal year.User can select the default budget and the budget to copy at year end in Set up GL Options.Click Clear Budget to clear all budget data entered.

Go to General Ledger module >> Maintain Budget

Budget in sage 500
  1. If a General Ledger natural account’s normal balance is a debit (DR), you should enter the budget amount as a positive number.
  2. If a General Ledger natural account’s normal balance is a credit (CR), you should enter the budget amount as a negative number.

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