Budgeted Income

[LindaW]

Ok here's the thing.
When we set our yearly expense budget we also have income budgeted for things like vehicle usage($3000 budgeted), rental houses((church parsonages)$16,500) and so on.
We enter the expense budget to their appropriate line items and maybe distribute it evenly for the year.
CAN I DO THE SAME WITH THE BUDGETED INCOME?
or will this mess things up when I am looking for an accurate quarterly report for the deacons.

This came about when I was asked if when pulling an "Income and Expense Statement" report with percentages if the income percent could also be reflected.

So I am thinking the only way to get the percentages in the budged income is to really put those numbers into the chart of accounts on the appropriate line items.

Thanks for your help

[JohnDMeyers]

You can enter budget numbers as a yearly number and 1)automatically divided up equally 2)automatically divided up proportionately, or you can put a different number in each month, manually.

[LindaW]

Yes I understand the different ways to enter the amounts in the chart of accounts but my question really is...

Can I put BUDGETED INCOME in the chart of accounts with out messing up an accurate balance in the check book so to speak?

[JohnDMeyers]

Are you asking if you can REALLY enter income before you actually receive it? Not just a budget number, but the actual income?

If so, that will mess up your balance sheet, your income and expense statement, and your check book.

[NeilZ]

Yes I understand the different ways to enter the amounts in the chart of accounts but my question really is...

Can I put BUDGETED INCOME in the chart of accounts with out messing up an accurate balance in the check book so to speak?

Sure ... a 'budget' is a forecast, a targeted set of numbers that any entity, whether church, business or family tries to stay within. That's all it is, does not affect anything as far as ACTUAL income.

You can forecast contributions of $1000 a week, and get in either $1200 or $500. All that you'll see in reports is that there was a budget projection of $1000, and that actual collections was +200 or -500 over the projected budget.

UPDATE: John posted ahead of me ... and what he said about entering such data as 'actually received'.