Budget

Viewing Budget Against Report Data in Docyt

Understanding Your Financials Better by Adding Budget Columns to Reports

 

With Docyt, customizing your financial reports to include budget-specific columns is simple and efficient. This feature allows for improved budget management, enabling you to compare your actuals against your budget and quickly identify any variances.

Key Components and Sections of the Report

After you add your budget to a report using the 'Customized' drop-down menu, these new columns will appear:

  • Budget $: This column displays your budgeted figures in dollar terms.

  • Budget %: This section represents your budgeted amounts as a percentage of the total budget.

  • Budget Var: This column shows the variance between your budgeted and actual amounts. This is a crucial component for identifying areas of overspending or under-budgeting.

Benefits

  • Enhanced Financial Planning: With your budget directly incorporated into your financial reports, you can plan your financial strategy more effectively.

  • Improved Budget Monitoring: Quickly identify and address budget variances to ensure financial health.

  • Simplified Reporting: Consolidate your financial reporting by having a budget and actual figures side by side, eliminating the need to switch between separate budgets and financial reports.

Accessing Budget Columns

  1. Sign in to your Docyt account.
  2. Open the report you want to add budget columns to.
  3. At the top of the report, click on the 'Customize' drop-down menu.
  4. Look for the "Budgets Comparison" option and check the box next to it. Then, choose the specific budget you want to include in the report.

By including your budget data in your reports, Docyt provides a clearer view of your finances and assists in more effective budget management. Use these features to improve your financial reporting and to make decisions based on solid data.