Click here to open in a new window

The budget factory is a bulk editor that will save you time. You can use it in a variety of ways to create new budgets, update existing budgets or simply copy budgets for multiple business units in one process.

You can also use it to create a reforecast containing actuals YTD plus your main budget version for the forecast months. In addition, you can use the Budget Factory to copy the read-only budget synced from your accounting system to an editable budget version in Calxa.

The basic flow is to choose source data such as actuals or existing budgets, then copy it to a destination budget with optional adjustments along the way.

To access the Budget factory you first open the Budgets & Actuals screen. Click on My Workspace -> Budgets & Actuals

Budgets & Actuals menu

  1. In the Budgets & Actuals screen click the hamburger menu to open the sidebar navigation

    Open Sidebar

  2. From the BUDGET TOOLS menu select Budget Factory


  3. You can either use the Budget factory to create an organisation budget (overall budget) or budget by business unit.
    1. If you choose Create an organisation budget click NEXT STEP

      Create an organisation budget

    2. If you select Create a business unit budgetyou'll need to choose the business units
      1. First choose which business unit type you'll be creating from the left

        Create a business unit budget

      2. Then select the business units you'd like to create budgets for and click NEXT STEP

        Use the checkboxes to select and deselect business units
        Use the search box to filter the business unit list by name or number
        Use the + and - symbol to expand and collapse any header business units
        Check a header business unit to select all under a header

        Business Unit Selection

    3. Choose the SOURCE data that will be used populate the chosen DESTINATION budget

      1. The source data can be drawn from the companies' Actuals or one of your existing Budgets. Select the source data and financial year.

        SOURCE data
        TIP 1: To create a reforecast or budget containing YTD actuals, select the current financial year Actuals as your source. Calxa will use actuals YTD plus pick up the budgets from your main budget version for the remaining forecast periods.

        Please see the Manage Budget Versions help note re how to review and change your main budget version.

        TIP 2: To copy the read-only budget synced from your accounting system to an editable budget version in Calxa, you will use the approach described here in this step and the next.

        The accounting system budgets that can be synced from your accounting system with each org sync are those from MYOB AccountRight, Xero and QuickBooks Online.

        You can copy the current financial year's budget into the editable Initial Budget Version or another version and not alter the prior or future years, if desired, as explained in step 3.2 just below. You could also choose to copy the entire read-only budget into a new budget version using the instructions in Manage Budget Versions.

      2. Select the destination Budget and destination Years 

        Use checkboxes to select destination years
        Select multiple to create budgets for multiple years in a range from the same source data

        DESTINATION budgets

    4. Now for each year in the selected range adjust the year's totals then click NEXT STEP

      Adjust each account type's annual total by specifying an amount or % change on the prior year
      The percentage change may vary from year to year
      Net Profit is adjusted based on the adjusted totals

      Note: When you are creating a reforecast containing YTD actuals you should not apply any changes on this screen, as this will change the actual months as well as the forecast months.

      Adjust Budget Amounts

      1. Cost of Sales can alternatively be adjusted as a Percentage of Income calculation

        Percentage of income

      2. Set a percentage value to adjust Cost of Sales as a percentage of the Income budget

        By using this Cost of Sales calculation method you can then set a Net Profit target which adjusts the Income and Cost of Sales totals to meet this target. Expenses will not change if you edit the Net Profit amount.

        Adjust Net Profit

    5. Give your Source and Destination settings a review before clicking SAVE BUDGET

      The destination side gives a good overview of what budgets will be created.
      Under destination years, if a warning is shown, saving will overwrite existing budget data.

      Note: It is a good policy to lock all budget versions and years you don't want any accidental changes made to via the Manage Budget Versions screen before clicking Save Budget.

      Review Source and Destination

    6. While your budgets are being built you'll see a progress indicator

      Budgets on production line

    7. When complete you can review and Edit your Budgets