Creating budgets


Budgets in Float are like placeholders for cash that might come into or leave the business, allowing you to build up a picture of how the future might look.

Your forecast is built with the budgets that you enter and each day Float updates itself and pulls in the latest transactions from your accounting software, which slowly fill up your budgets. Once an actual becomes larger than the budget, Float will use the actual amount instead. At the end of the current month, all actuals will be used instead of budgets, ensuring your forecast is as accurate as possible.

The following steps show how to create a budget within Float.

First, click into a cash flow cell for the account you would like to budget against, selecting the ‘Create budget’ option from the modal that displays.

Clicking ‘Create budget’ will bring up the options for setting the budget. Here you will set:

  • A budget name
  • The frequency with which the budget occurs
  • Budget start and end date
  • Budget amount

 

In the budget occurs field there are the following options:

Once

Every week

Every 2 weeks

Every month

Every quarter

Every year

If choosing ‘Once’ the budget will occur one time in the cash flow, on the date specified. However, each of the other options will repeat on the chosen frequency between the start and end date.

The start and end date will allow you to customise when the budget impacts the cash flow, for example, if a budget were to only run for 6 months this can be achieved through setting the start and end date.

The amount entered should be the amount to be shown as each budget, e.g. entering a weekly budget of £200 for every week will result in £200 showing in the cash flow for every week in the month.

Once you’re happy with the options, select save and the budget will be added to the cash flow.

You can find out how to edit budgets here:
Edit single budget
Edit multiple budgets


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