Budgets

{ref}Analytic budgets <accounting/budgets/analytic-budgets> track specific activities and projects using analytic accounts, helping businesses make informed decisions about specific departments, projects, or other groups of transactions. In contrast, {ref}financial budgets <accounting/budgets/financial> are tied to the general ledger accounts that appear on the profit and loss and focus on the company's overall economic position.

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Analytic budgets

Analytic budgets allow for allocating and tracking income and expenses in detail, breaking down costs and revenues by specific projects, departments, or groups of transactions. Analytic budgets can be applied across various departments or projects to measure profitability and performance. Odoo manages analytic budgets using {doc}analytic accounting <analytic_accounting>.

To activate the option for creating analytic budgets, go to {menuselection}Accounting --> Configuration --> Settings, and enable {guilabel}Budget Management in the {guilabel}Analytics section.

:::{important} Odoo structures budgets using {ref}plans <accounting/analytic_accounting/analytic_plans> and {ref}accounts <accounting/analytic_accounting/analytic_accounts>, which must be configured before creating a budget. :::

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Set an analytic budget

To create a new budget, go to {menuselection}Accounting --> Accounting --> Analytic Budgets and click {guilabel}New. Make sure the following fields are appropriately completed: {guilabel}Budget Name, {guilabel}Period, and {guilabel}Budget Type.

Click {guilabel}Add a line in the {guilabel}Budget Lines tab to structure the budget with the {ref}analytic plans <accounting/analytic_accounting/analytic_plans> and {ref}accounts <accounting/analytic_accounting/analytic_accounts> previously created. While the {ref}analytic plans <accounting/analytic_accounting/analytic_plans> correspond to the column names, select the {ref}analytic accounts <accounting/analytic_accounting/analytic_accounts> to define the budget lines and set the amounts for each in the {guilabel}Budgeted column. Once all the budget lines are settled, click {guilabel}Open. If changes need to be made once the budget's status is {guilabel}Open, there are two options:

{guilabel}Reset to Draft: To overwrite the data, then reopen the budget.
{guilabel}Revise: A new budget will be created. Once it is {guilabel}Open, a {guilabel}Rev reference is added to the {guilabel}Budget Name. The original budget is then {guilabel}Revised.

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Check an analytic budget

Once the budget is {guilabel}Open, two additional columns are available: {guilabel}Committed and {guilabel}Achieved. These columns' amounts are automatically calculated based on the related {ref}analytic distribution <accounting/analytic_accounting/analytic-distribution> of journal items. When the {ref}analytic distribution <accounting/analytic_accounting/analytic-distribution> of a journal item within the budget's period is updated, the budget's columns for the analytic account(s) selected in the distribution are automatically updated. The {guilabel}Achieved amount reflects the current result according to the items of confirmed journal entries for the associated {ref}analytic account <accounting/analytic_accounting/analytic_accounts>. In contrast, the {guilabel}Committed amount displays the full value of the {guilabel}Achieved amount, plus any confirmed sales or purchase orders that have not yet been invoiced or billed.

:::{note}

When a line in a request for quotation or purchase order includes an analytic distribution, a {guilabel}Budget smart button appears, providing a link to the {ref}budget report <accounting/budgets/analytic-budget-reporting> for more details.
For {guilabel}Open budgets, if a request for quotation or a purchase order is created using the associated analytic distribution and exceeds the allocated budget amount, the corresponding purchase order line is highlighted in red. :::

To reveal the {guilabel}Theoretical amount or percentage, use the {icon}oi-settings-adjust ({guilabel}adjust settings) icon in the {guilabel}Budget Lines' header. The {guilabel}Theoretical amount represents the amount of money that could theoretically have been spent or should have been received based on the current date relative to the start/end dates. Click {guilabel}Details to open a filtered view of the {ref}budget report <accounting/budgets/analytic-budget-reporting> related to that specific budget line.

:alt: open budget with committed, achieved, and theoretical amounts

:::{note} Deleting a budget is only allowed in the {guilabel}Draft and {guilabel}Cancelled stages. :::

To view the budget lines of one or multiple budgets directly from the {guilabel}Budgets list view, select the budget(s) and click {guilabel}Budget Lines.

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Generate periodic budgets

To create periodic budgets (monthly, quarterly, and yearly) for the selected {guilabel}Analytic Plans, click {guilabel}Generate. A new budget is created for each {guilabel}Period between the start and end dates:

If a single analytic plan is selected, each budget includes a line for each account in that analytic plan.
If multiple analytic plans are selected, each budget includes a line for each account/analytic plan combination.

To generate periodic budgets, follow these steps:

In the {guilabel}Budgets list view, click {guilabel}Generate.
In the {guilabel}Generate Budget window, set the dates and select the {guilabel}Period and the {guilabel}Analytic Plans.
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:alt: all the options to generate periodical budgets
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Click {guilabel}Split to create the periodic budgets.
Click {guilabel}Budgets in the top-left corner to return to the {guilabel}Budgets list view.
One by one, click on the different periodic budgets with the {guilabel}Draft status to open them and set the amounts in the {guilabel}Budgeted column for each analytic account linked to the chosen analytic plans.
Click {guilabel}Open for each periodic budget.

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Reporting

To perform various reporting actions, go to {menuselection}Accounting --> Reporting --> Budget Report, then:

Track, analyze, and compare budget data.
Filter and group data using the {icon}fa-plus-square ({guilabel}plus-square) or {icon}fa-minus-square {guilabel}(minus-square) icon.
Drill down into the report to see more details on the actual amounts and transactions.
Export the data for further analysis or reporting needs.

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Financial budgets

Financial budgets are structured around specific income and expense accounts and transactions for official financial reporting and compliance purposes.

:::{note} Financial budgets are available on the {ref}Profit and Loss <accounting/reporting/profit-and-loss> report. :::

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Set a financial budget

To create a new financial budget, follow these steps:

Go to {menuselection}Accounting --> Reporting --> Profit and Loss to open the {ref}Profit and Loss <accounting/reporting/profit-and-loss> report.
Click the {icon}fa-calendar {guilabel}(calendar) button to use the date selector and choose a period.
Click the {icon}fa-bar-chart {guilabel}Budget button and name the budget. A new column labeled with the budget name will appear next to the {guilabel}Balance column.
Assign amounts to each account requiring analysis.
A new {guilabel}% column will appear to the right of the new budget column, indicating the current status.

Different financial budgets can be created using these steps for comparison purposes.

:::{note} The date selector enables the division of periods and navigation between periods, automatically updating the amounts accordingly. :::

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