Updated December 2020

Budgeting made easy

Rule driven budgeting makes budgeting quick and easy

Budget season comes round all to often for charity and commercial organisations alike.

If you have any experience of budgeting you will understand why we have developed a tool that makes your budget creation so simple that you will look forward to it.

Here's how it's done.

Select what accounts to budget for

  • Some may require to budget, for example, for income as a whole whilst others may budget by individual account. Whatever your requirement it is easily set.

Define data you want to use as the basis for your budget

  • Businesses/organisations with historical data often use historical data as their reference and Liberty provides 3 different options:
  • Historic Actual - actual values for each month selected;
  • Historic Average - an average value over the historic period;
  • Historic Last Month - for growing businesses/organisations simply use the figure from the last month to work from.

For those with no historic data, or a new budget line, you also have the option of an input value.

Use rules to control your monthly budget amounts

  • Now that you have your base figures what do you want to do with them? Again simple options:
  • £/% changes - vary the base figures by a pound or percent change;
  • £/% compound changes - vary the base figures by a compound pound or percent change;
  • Seasonality - apply one of two seasonal weighting to your bases figures.

Quickly apply standard rules to all accounts

  • For many your parameters are the same for every budget line e.g. last years figure plus a percentage change of 5%.
  • In 4 clicks you can define this for all budget accounts and simply edit individual ones as necessary e.g. you want to change income to go up by 7%.

Sit back and let Liberty build your budget

  • With your parameters set simply specify the budgeting period and the historic period on which, is using historic data, base figures will be calculated.
  • Your budget is prepared for you and can be edited if required.

You can budget by fund

  • Budgeting for individual funds is important for charities and churches. We recognised the importance of this and
  • provide for the creation of budgets both by individual fund and by activity as well.

Or by branch for commercial businesses

  • For businesses using Branch/Activity analysis (cost centres) the same ability applies.

Register for a free trial of Liberty Accounts and explore our budgeting feature to see how much time you will save.

Journal end flourish


January 2021
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