diff --git a/content/applications/finance/accounting/others/adviser/budget.rst b/content/applications/finance/accounting/others/adviser/budget.rst index c29341d84..03c808d79 100644 --- a/content/applications/finance/accounting/others/adviser/budget.rst +++ b/content/applications/finance/accounting/others/adviser/budget.rst @@ -1,157 +1,102 @@ -========================= -Manage a financial budget -========================= +================ +Financial budget +================ -Overview -======== - -Managing budgets is an essential part of running a business. Budgets help -people become more intentional with the way money is spent and direct people -to organize and prioritize their work to meet financial goals. They allows -you to plan your desired financial outcome and then measure your actual -performance against the plan. Odoo manages budgets using both General and Analytic -Accounts. - -We will use the following example to illustrate. We just started a -project with Smith&Co and we would like to budget the incomes and -expenses of that project. We plan to have a revenue of 1000 and we don't -want to spend more than 700. +Managing budgets is an essential part of running a business. Budgets help people become more +intentional with how money is spent and direct people to organize and prioritize their work to meet +financial goals. They allow the planning of a desired financial outcome and then measure the actual +performance against the plan. Odoo manages budgets using both **general** and **analytic accounts**. Configuration ============= -First we need to install the relevant apps to use budgeting. The main -module is the accounting app. Go in the app module and install the -**Accounting and Finance** app. +Go to :menuselection:`Accounting --> Configuration --> Settings --> Analytics section`, and enable +:guilabel:`Budget Management`. -.. image:: budget/budget01.png - :align: center - -Further configuration is as well necessary. Go to :menuselection:`Accounting -module --> Configuration --> Settings` and enable the **Budget -management** feature - -.. image:: budget/budget02.png - :align: center - -Budgetary Positions +Budgetary positions ------------------- -Budgetary positions are lists of accounts for which you want to keep -budgets (typically expense or income accounts). They need to be defined -so Odoo can know it which accounts he needs to go get the budget -information. +Budgetary positions are lists of accounts for which you want to keep budgets (typically expense or +income accounts). -The budgetary positions act as a type of restriction on what can be recorded -in the 'practical amount' column in a budget. - -Each budgetary position can have any number of accounts from the general -ledger (the main chart of accounts) assigned to it, though it must have at least one. - -If you record a transaction that has an analytic account assigned to it that *is* -included in a budget line but one of the general ledger accounts *is not* included -in the budgetary position for that same budget line, it will not appear within the -'practical amount' column of that budget line. - -Some budgetary positions might be already installed with your chart of +To define budgetary positions, go to :menuselection:`Accounting --> Configuration --> Management: +Budgetary Positions` and :guilabel:`New`. Add a :guilabel:`Name` to your budgetary position and +select the :guilabel:`Company` it applies to. Click :guilabel:`Add a line` to add one or more accounts. -To define the positions enter the :menuselection:`Accounting module --> Configuration --> -Budgetary Positions`. +.. note:: + Each budgetary position can have any number of accounts from the chart of accounts, though it + must have at least one. -For our example we need to define what accounts relates to our project's -expenses. Create a position and add items to select the accounts. +Use case +======== -.. image:: budget/budget03.png +Let’s illustrate this with an example. + +We just started a project with *Smith & Co*, and we would like to budget the income and expenses of +that project. We plan on having a revenue of 1000, and we don’t want to spend more than 700. + +First, we need to define what accounts relate to our project’s expenses. Go to +:menuselection:`Accounting --> Configuration --> Management: Budgetary positions`, and click +:guilabel:`New` to add a position. Add the accounts wherein expenses will be booked. + +.. image:: budget/smith-and-co-expenses.png :align: center + :alt: display the Smith and Co expenses -In this case we select the three relevant accounts used wherein we will -book our expenses. +Let's repeat the steps to create a budgetary position that reflects the revenue. -.. image:: budget/budget04.png +.. image:: budget/smith-and-co-revenue.png :align: center + :alt: display the Smith and Co revenue -Click on *Select*. +Analytical accounts +------------------- -.. image:: budget/budget05.png +Odoo needs to know which costs or expenses are relevant to a specified budget, as the above general +accounts may be used for different projects. Go to :menuselection:`Accounting --> Configuration --> +Analytic Accounting: Analytic Accounts` and click :guilabel:`New` to add a new **Analytic Account** +called *Smith & Co*. + +The :guilabel:`Plan` field has to be completed. Plans group multiple analytic accounts; they +distribute costs and benefits to analyze business performance. **Analytic Plans** can be created or +configured by going to :menuselection:`Accounting --> Configuration --> Analytic Accounting: +Analytic Plans`. + +When creating a new customer invoice and/or vendor bill, you have to refer to this analytic account. + +.. image:: budget/analytic-accounts.png :align: center + :alt: add analytic accounts in a new invoice or bill. -Save the changes to confirm your Budgetary position. +Define the budget +----------------- -Repeat this steps to create a revenue budgetary position. Only in this -case select the relevant income accounts. +Let’s set our targets. We specified that we expect to gain 1000 with this project, and we would like +not to spend more than 700. Go to :menuselection:`Accounting --> Management: Budgets` and click +:guilabel:`New` to create a new budget for *Smith & Co* project. -Analytical account ------------------- +First, fill in your :guilabel:`Budget Name`. Then, select the :guilabel:`Period` wherein the budget +is applicable. Next, add the :guilabel:`Budgetary Position` you want to track, define the related +:guilabel:`Analytic Account`, and add the :guilabel:`Planned Amount`. -Odoo needs to know which costs or -expenses are relevant to a specified budget. To do so we need to link -our invoices and expenses to a defined analytical account. Create an -analytical account by entering the Accounting module and clicking -:menuselection:`Advisers --> Analytic Accounts --> Open Charts`. Create a new Account -called Smith&Co project and select the related partner. - -.. image:: budget/budget06.png +.. image:: budget/define-the-budget.png :align: center + :alt: budget lines display -Set a budget -============ - -Let's now set our targets for our budget. We specified that we expect to -gain 1000 with this project and we would like not to spend more than -700. - -To set those targets, enter the accounting app, select :menuselection:`Advisers --> -Budgets` and create a new Budget. - -We have to give a name to the budget. In this case we'll call it "Smith -Project". Select the period wherein the budget will be applicable. Next -add an item to specify your targets in the Budget Line. - -.. image:: budget/budget07.png - :align: center - -Select the Budgetary Position related to the Budget Line. In other -words, select the position that points to the accounts you want to -budget. In this case we will start with our 700 maximum charge target. -Select the "Cost" Budgetary Position and specify the Planned Amount. -As we are recording a cost, we need to specify a **negative amount**. -Finally, select the corresponding analytic account. - -.. image:: budget/budget08.png - :align: center - -Click on **Save & new** to input the revenue budget. The Budgetary -Position is Revenue and the Planned Amount is 1000. Save and close - -You'll need to **Confirm** and **Approve** the budget. +.. Note:: + When recording a planned amount related to expenses, the amount must be negative. Check your budget -================= +----------------- -You can check your budget at any time. To see the evolution, let's book -some Invoices and Vendors Bills. +Go to :menuselection:`Accounting --> Management: Budgets` and find the *Smith & Co* Project to see +how it evolves according to the expenses or income for the related analytic account. -.. tip:: - If you use analytical accounts remember that you need to specify the account in the invoice - and/or purchase line. +The :guilabel:`Practical Amount` evolves when a new journal entry related to your analytic account +and an account from your budgetary position is created. -.. seealso:: - For more information about booking invoices and purchase orders see - :doc:`../../receivables/customer_invoices/overview` - -Go back in the budget list and find the Smith Project. - -Via the analytical account, Odoo can account the invoice lines and -purchase lines booked in the accounts and will display them in the -**Practical Amount** column. - -.. image:: budget/budget09.png - :align: center - -.. note:: - The theoretical amount represents the amount of money you theoretically could - have spend / should have received in function of the date. When your budget - is 1200 for 12 months (january to december), and today is 31 of january, the - theoretical amount will be 100, since this is the actual amount that could - have been realised. +The :guilabel:`Theoretical Amount` represents the amount of money you theoretically could have spent +or should have received based on the date. For example, suppose your budget is 1200 for 12 months +(January to December), and today is 31 of January. 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