Reporting - Budgets by tracking category to integrate with master overall budget
Ability to integrate budgets by tracking categories with the master overall budget.
Purpose: Because it can automatically flow through the master budget, so users don’t need to manually reconcile during this process.
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Maya Kemp commented
Xero don't bother to action anything we ask for even if it's over 300 votes. They just like to make things look pretty. The 'enter your idea' is just a way to make themselves look like they 'value' the customer.
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Justine Dalla Riva commented
This is critical, interest to know how many votes are needed before this is actually actioned?
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Francois du Plessis commented
Yes, this would be great to have one budget imported, but be able to split GL code amounts by the various tracking categories as required.
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Brad Ruoho commented
Please make this a top priority, it seems simple and is so important to our business.
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Ryan Vu commented
Please make this a priority. It would set you apart from QBO.
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Marcus Daff commented
Every year when annual budgeting occurs and during the year when re-forecasting, my love of Xero plummets as I sigh at having to prepare tracking category budgets as well as bringing this altogether manually into the overall budget. A big time commitment and huge potential for errors.
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Jean Hamilton commented
Budget by project/tracking category useless without being able to bring together into an overall budget for the organisation. Get sorted!!
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Ian Maith commented
What is the point in allowing people to create budgets for tracking categories if you can't then track them against actual spend for that tracking category - its utterly pointless and completely wastes users time.
This should be a basic function of an accounts system, and is not the first thing I've come across in Xero that has been completely half-done.
These things need to be addressed if you want Xero to be taken seriously as an accounts package provider.
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Shirley Webb commented
Xero Central, can you let us know if you are looking as this function, it is a critical function and many people need it.
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Paul Speechlay commented
Please look at this. Will save a huge amount of time, and eliminate errors
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Cathy Joyce commented
We have over 70 Cost Centre's in the tracking category, so manually reconciling is time consuming.
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Brice Musendo commented
This needs to be addressed. It's fundamental in budget reporting.
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David Brinson commented
I am surprised that this isn't an option. This is a flaw when you have multiple departments
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Cathy Joyce commented
This would save a lot of time and possible errors, as each cost centre must be saved into a spreadsheet.
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Abdul Khan commented
This idea is so that the customers can accumulate the budget cost centres without going into each cost centre.
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Lizzie Faulkner commented
Just playing with the free trial now, and I'm stunned to see I have to calculate my overall budget in a spreadsheet and then import it separately. How has this been flagged for so long without any action? What's the point of software if you have to do everything in Excel alongside it? Unclear what value Xero adds here.
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Erin Stevenson commented
This is a must. The overall budget should automatically be calculated with the figures entered into each tracking category (department) to show an overall view of the budget
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Errol Peters commented
A basic feature essential for financial management of any business.Clients are extremely surprised when they learn the Xero does not have it. Its like working with an arm cut off.
It is for this reason I cannot recommend Xero to clients with multiple departments.
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Annie Lydon commented
That will teach me for assuming Xero did the basic of accounting and budgeting processes better than others... I'm unsure how this has been on the radar for 10 years and not yet been introduced.
Hopefully the forums can help me now understand how other organisations/businesses operate without the ability to use departmental 'sub-budgets' in Xero and still track performance against budget on a monthly basis. Back to excel we go... -
Louis Francis commented
I've recently transitioned from QuickBooks to Xero when changing accountants and I can't believe that Xero hasn't built-out this vital functionality - QuickBooks is far superior in this respect.
And then to see that this was first reported in Jan 2013 (10 years ago!) and still hasn't been under review, let alone built is shocking.
As others have noted before me, this functionality unlocks the full potential of having budgets per category, which essentially form sub-budgets that could feed into the master budget which combines all (or a specific set of) budgets across your chosen categories.
This also alleviates the need for double-keying changes on a specific budget for a given category, and then having to manually make the same change
on your master budgets(s) - which also presents increased risk of fat finger errors.On a related, there should also be a default report template that allows you to compare monthly budget variance across a 12-month period i.e. a calendar year. As far as I can tell, there is no default template for this and so you have to build this out manually. Again, more manual work and another area where QuickBooks is superior...