Budgets in Xero are often overlooked as there is not a huge amount of support for them.
Forecasting with Budgets
Xero budget data is enriched so it can be used to support many more scenarios.
Daily Budget Amounts
Budget Amounts are calculated for each day based on the number of days in a month. This means you can have weekly budgets as well as monthly and/or track actual progress within the month against the budget.
Net, Gross and Tax Amounts
So that it is possible to use budgets to forecast tax amounts, Net amounts are assumed to be entered within the Budget in Xero and the Account Code for a Budget line is used to determine Tax and Gross amounts.
Reporting Currency Amounts
The Net, Tax and Gross amounts also have their respective Reporting Currency amounts calculated.
In this way, you can combine the budgets of multiple Xero organisations, even if they use different currencies.
The Account Code for the Budget.
The corresponding Account Name.
If want to report and link other sources of financial information (for example to link Journals and Invoices data to compare actuals and forecasts) then use the linked Account Name field from the Accounts table.
The Day of the budget.
Budget Month End
The corresponding Budget Month End Date.
Budget Month Start
And the corresponding Budget Month Start Date.
The name of the Connection. Typically the name of the Xero Organisation.
Data current as of
When the Data was taken from Xero.
The Gross Amount (Net and Tax) in the base currency of the Xero Organisation.
Gross Amount (RC)
The Gross Amount (Net and Tax) in the reporting currency.
The Net Amount in the base currency of the Xero Organisation.
Net Amount (RC)
The Net Amount in the reporting currency.
The Tax Amount in the base currency of the Xero Organisation.
Tax Amount (RC)
The Tax Amount in the reporting currency.
Tracking Category 0
Tracking Category 1
Tracking Option 0
Tracking Option 1