Modification in budget
Cash Budget:
Consider all accounts except accounts under Cash and Bank groups in Cash Budget for Inflow and Outflow.
Individual budget amount needs to be assigned for each account.
Consider all accounts involved in transactions with Cash and Bank accounts.
Budget amount for an account will be considered as 0.00 if none is provided.
Instead of separate expense and sales budgets make a combined budget of both called 'Profit & Loss Budget'.
Profit & Loss budget report will be similar to profit & loss report. The only difference is that budget will have budgeted amounts and variances between budget amounts and actual amounts.
In this budget, we need to consider all Expense and Incomes groups accounts.
Edited by Abhi1tb