Budget in Rise Accounting and Rise School Management

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Overview

The Budget tool allows you to effectively budget your money across your accounts. The budget report (accrual based) will calculate how closely your company is on track with spending and sales.

Creating Budgets

To create a budget:

  1. Go to Accounting > Budget.
  2. Click Create.
  3. Choose a Year from the drop-down list. If your year is not in the list, enter it manually.


Budget document.png


  1. Enter the Description.
  2. Click Add to add an account individually to the budget from the drop-down list or click Fill to bring all your Income Statement accounts.
  3. For each Month, add the budgeted amount for the account. The Total will change as each month is added. Alternatively, enter a Total for the entire year. The amounts for each month will be filled automatically, splitting the total evenly between all 12 months.
  4. Click Post and close.

Filtering Budgets

To filter the list of your accounts in the budget:

  • To find an account, click More Actions > Find. Change the value in the Search in drop-down list to exactly what you want to find: an account, an account type, a total amount, an amount for each month and so on.
  • To search for a specific account, click any account and press Ctrl + F on your keyboard, and the system will tell you Search in: Account. In the Find field, input the name of the account you are looking for or its number. Click Find. It will give you an account you needed. To get all the accounts back, click More Actions > Cancel Search.
  • To finish a budget for the Sales part first and not to go through the whole list to find Sales accounts, right-click Sales in the Account type column of any account and select Find: account type > Sales. To have all the accounts back, go to More actions and Cancel search.

Budget Plan-Actual Report

To analyze the variances between planned and actual budget:

  1. Go to Accounting and click Budget plan-actual.
  2. Specify the Period. If you select Custom, enter the date range in the From and To fields.
  3. Click Run report.
  4. Analyze the information in the Over Budget column.
  5. To see what exaclty you spent money on, double-click the amount in the Actual column, click Transactions, and then click Select.
  6. Double-each document in the list to open and analyze it.