In
ContactsLaw, all
general accounts have the capacity for a
budget. For any given financial year, monthly targets can be assigned and maintained, summing together to form an annual figure.
For income and expense accounts, the budget figure represents the net sum of debits/credits to the account within the month.
For asset, liability and equity accounts, the budget figure represents the target balance at the end of the month.
Budgets can be maintained in both top-down and bottom-up fashion:
- The account transaction viewer allows budgets to be edited on a per-account basis
- The budget wizard allows the budgets for all accounts to be edited collectively, with automatic monthly distribution