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...
Louis Francis
supported this idea
·
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...