Create a budget

Audience: Admin, Finance
Type: Task

Reference

For system behavior and rules, see
SmartBooks Documentation – Section 8: Budgets

Purpose

Creating a budget allows you to plan and monitor expected income and expenses for a specific period in SmartBooks.

Budgets help compare planned amounts with actual performance through reports.

How to Access

1. Go to SmartBooks

2. Click Budget

3. Click Create Budget

URL format:
https://app.thulo.com/{tenantname}/ps/admin/accounting/budget

Creating a Budget

To create a budget:

1. Click Create Budget

2. Enter the Budget Name

3. Select the Budget Period (monthly, quarterly, or yearly)

4. Select the Start Date and End Date

5. Choose the Accounts to include

6. Enter budgeted amounts for each account

7. Click Save

The budget is created and becomes available for reporting.

Editing a Budget

You can edit a budget to:

• Update budget amounts

• Adjust the budget period

• Add or remove accounts

Changes affect future budget comparisons.

Viewing Budget Performance

Once created, budgets can be used to:

• Compare actual vs budgeted amounts

• Identify overspending or underspending

• Support financial planning decisions

Budget comparisons are available in reports.

Important Notes

• Budgets do not affect accounting entries

• Budgets are used only for comparison and planning

• Existing transactions are not modified

• Only users with budget access should manage budgets

When to Use This

• At the beginning of a financial year

• When planning monthly or yearly expenses

• When monitoring financial performance

Related Articles

• General Accounting Settings

• Chart of Accounts

• Income Statement Modification

• Reports

End of Article