Overview
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.
Data Dictionary
Field | Type | Notes |
Account Code | Text | Account Code |
Account Name | Text | Account Name |
Budget Date | Date | Although Budget Amounts are entered monthly in Xero Budget Manager, these are converted to daily amounts (by dividing each month by the number of days in that month). This means that it is possible to compare arbitrary periods to actual journal or invoice amounts or track running monthly actuals against a budget. |
Budget Month End | Date | Budget Month End |
Budget Month Start | Date | Budget Month Start |
Budget Name | Text | Budget Name |
Connection Name | Text | The name of the Connection. Typically the name of the Xero Organisation. |
Data current as of | Datetime | When the Data was taken from Xero. |
Gross Amount | Number | If the Account Code for the budget attracts taxes, then these are calculated and included in the Gross Amount. |
Gross Amount (RC) | Number | If the Account Code for the budget attracts taxes, then these are calculated and included in the Gross Amount and converted as required to the Reporting Currency. |
Last Updated | Datetime | Updated |
Net Amount | Number | The amount entered into the Xero Budget Manager. |
Net Amount (RC) | Number | The amount entered into the Xero Budget Manager, converted as required to the Reporting Currency. |
Notes | Text | Notes |
Status | Text | Seems {'APPROVED'} is the only status presently. |
Tracking Category 0 | Text | 0 |
Tracking Category 1 | Text | 1 |
Tracking Option 0 | Text | 0 |
Tracking Option 1 | Text | 1 |
Type | Text | One of {'OVERALL', 'TRACKING'} |