Great question! While you can't edit the layout you see in the Budget Manager, you can edit the layout of the Budget Variance report. Editing the Budget Variance is the same as editing the P&L: you can group items together and move them around, so you can create a custom report showing the budget how you want. Are you familiar with editing the P&L? There's a video on my channel which may help if you're not...
Absolutely! Open the P&L report: - choose the date range (eg this month) - click “Compare with” and select the number of months you want - click “Update” - click “More” and select “Year to date” - click “Update” You now have a month by month report with a YTD column Click “Edit layout” to open the layout and editor. - click “Columns” at the top and select “Budget”. This adds a budget column for the current month. - click the budget header to open the panel on the right. - change “Date range” to “Year to date” or “Financial Year” (depending on what you want to see - click “Update layout” Now you have a month by month P&L, with YTD actuals, and an annual budget. Don’t forget to save this as a custom report to you can run it again!
Do you mean changing the names of accounts (eg changing "Bank Fees" to "Bank Charges")? If so, account names can be changed in the Chart of Accounts. Or do you mean changing the headings (eg changing "Less Operating Expenses" to "Overheads")? If so, this can't be done on the Budget Manager screen, but you can change those headings on a report (eg the Budget Variance report), in the same way as you can change headings on almost any report. One exception to this is the Budget Summary, which is an older style report that Xero hasn't yet updated. If you do want to customise those headings on a budget report, you could create your own custom budget report with whatever headings you like. That would work nicely, but it's a bit of work! (and it wouldn't affect eh Budget Manager screen in any way). Hopefully I've understood your question (?)
You can customise reports that feature a budget (eg the Budget Variance or a schedule of expenses with a budget comparison). You can't customise the Budget Manager screen. Is there something specific you're trying to achieve?
Looks horrid. Why can't there be an accounting software that actually has a descent budgeting system built in. YNAB has done it best and since then no business software can replicate the budgeting capabilities. Don't know why. I'm assuming after accounting, budgeting just isn't a priority for them. I've used Xero. And while it's more user friendly, the budgeting, I could probably do a better job on just Excel.
Thank you. This was helpful, clear and concise.
Thank you so much for taking the time to comment. I appreciate it! 😊
Good easy to understand
Thanks for taking the time to comment. It’s great to hear you find the video useful!! 😊
very helpful! thank you Jon
Thanks for taking the time to comment. I’m happy you’ve got value for this video! 😊
Thank You ! ~ Michelle.
You’re welcome. Hope you found it useful.
Great Video!😎😎
Thanks for taking the time to comment! I’m thrilled that it’s useful!
More videos like this on the way soon…!
@@xeroguru
Do you have an email I could contact you on a potential collaboration?
it's learnaboutvideos@gmail.com
Is there a way of formatting the budget layout to reflect grouped expense lines?
Great question!
While you can't edit the layout you see in the Budget Manager, you can edit the layout of the Budget Variance report.
Editing the Budget Variance is the same as editing the P&L: you can group items together and move them around, so you can create a custom report showing the budget how you want.
Are you familiar with editing the P&L?
There's a video on my channel which may help if you're not...
ua-cam.com/video/10H7IcHAMmc/v-deo.htmlsi=icJD5AH5-9pCo-wT
Can I make a report that shows Month Actuals, YTD Actuals and Annual Budget
Absolutely!
Open the P&L report:
- choose the date range (eg this month)
- click “Compare with” and select the number of months you want
- click “Update”
- click “More” and select “Year to date”
- click “Update”
You now have a month by month report with a YTD column
Click “Edit layout” to open the layout and editor.
- click “Columns” at the top and select “Budget”. This adds a budget column for the current month.
- click the budget header to open the panel on the right.
- change “Date range” to “Year to date” or “Financial Year” (depending on what you want to see
- click “Update layout”
Now you have a month by month P&L, with YTD actuals, and an annual budget.
Don’t forget to save this as a custom report to you can run it again!
how do you change the cost categories or delete some?
Do you mean changing the names of accounts (eg changing "Bank Fees" to "Bank Charges")? If so, account names can be changed in the Chart of Accounts.
Or do you mean changing the headings (eg changing "Less Operating Expenses" to "Overheads")?
If so, this can't be done on the Budget Manager screen, but you can change those headings on a report (eg the Budget Variance report), in the same way as you can change headings on almost any report.
One exception to this is the Budget Summary, which is an older style report that Xero hasn't yet updated.
If you do want to customise those headings on a budget report, you could create your own custom budget report with whatever headings you like. That would work nicely, but it's a bit of work!
(and it wouldn't affect eh Budget Manager screen in any way).
Hopefully I've understood your question (?)
Can you use your own Budget format?
You can customise reports that feature a budget (eg the Budget Variance or a schedule of expenses with a budget comparison). You can't customise the Budget Manager screen. Is there something specific you're trying to achieve?
Looks horrid. Why can't there be an accounting software that actually has a descent budgeting system built in. YNAB has done it best and since then no business software can replicate the budgeting capabilities. Don't know why. I'm assuming after accounting, budgeting just isn't a priority for them. I've used Xero. And while it's more user friendly, the budgeting, I could probably do a better job on just Excel.
Agree that it’s due for an overhaul. Hopefully Xero will give budgeting some love soon.