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Budget Reports inaccurate
Budget reports are inaccurate in that it does not show amounts of actual spend if that particular category was not budgeted for!? That really defeats the purpose! Is it only me? Am I doing something wrong? Also the pro rata allocation of budget amounts is very unclear i.e. enter US$1,000 into any given category and spread it over the year, you'll get strange amounts, which get bigger every month from January through December but on the whole it will not ad up to the original 1,000???
I’m frustrated
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Inappropriate?I can only tell you what I do, and what works for me. May not suit everyone.
1. Budget report does not show amount spent if no budget for that category. Others have complained of this before. I have two ways around this:
(a) Edit your budget to add every category in your list of budget categories. For those categories which have no budget figure enter a zero figure. Then when you print the report you will get all categories, with or without a budget figure. You may have a lot of zeros in your report, too!
(b) Use the extension "Detailed Budget" (I wrote on this just the other day for someone. Click on my name, and you will find the reference for this extension.) Add the extension to your program (not difficult). This will put up all categories even if you have not entered zero balances in the budget. This is the report that I use most. It is not very pleasing visually, and I save it as a HTML file and open it in a spreadsheet. It is very easy to format then as you want.
2. Allocation of budget figures over a year don't add up to the correct total. My solution to this may not appeal to some.
I always set my budget figures for an annual figure, and do not attempt to spread them out over a year. In other words, I want to compare my actual with the total budget for the year. I have alway done this in Quickbooks and MYOB as well. My reason for this is that, while some categories incur expenses every month (eg telephone, electricity), some do not: e.g. insurance, city taxes etc. I have always found it easier to have before me the total annual budget figures. If I want to get really accurate I save and open thereport in a spreadsheet and add a column showing percentages.
