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  5. Setting up your Budget for users starting a new financial year
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  5. Setting up your Budget for users starting a new financial year
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  3. Budget (aka Chart of Accounts)
  4. Setting up your Budget for users starting a new financial year

Setting up your Budget for users starting a new financial year

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Click the Budget icon in the sidebar.

You can create your budget using one of the following:

  1. Copy one of your existing budgets.
  2. Select one of MoneyMinder’s templates.
  3. Add a budget from scratch.

Note: Once you save your selection you will not be able to start over.


Definitions:

Headings give structure to your budget. These are used to organize broad activities. Budgets typically include headers such as: Fundraising, Administration, Programs.

Subheadings further group similar activities within that broader heading. For example, you might have a heading for Fundraising with a subheading for a particular fundraiser you want to track in more detail (eg walk-a-thon, purple pinkie project, bingo).

Categories are the detailed areas of the activity you want to track (eg ticket sales, awards).


Copying an existing budget:

Select the budget you want to copy from the dropdown menu that says Copy a budget that you set up in a previous financial year. Choose one of the years displayed below:

This will allow your group to copy a budget from a prior year.

Modify this budget to reflect any changes and click Save.

Making changes to a budget that’s been copied from a prior year will NOT affect the financial year the budget was copied from.

Note: Unchecking “Include budgeted income & expense amounts that you used in that year” before selecting the budget you want to copy will copy only the heading, subheading, and category names.


Selecting a budget template:

Select a budget template from the “Choose a MoneyMinder budget template to start with” drop-down menu:

Modify this template to suit your needs by deleting items that are not relevant to your group and adding items that are.

Click Save when done.


Adding a budget from scratch:

Click Start New Budget to begin creating your new budget.


When entering a budget, keep in mind that Headings and Subheadings are a way to organize the budget and categories are what transactions are applied to and what is actually tracked on reports. Categories are organized below Headings and/or Subheadings and have dollar amounts that can be entered under Budgeted Income and/or Budgeted Expenses. See the example below:


Type the name of your first heading (eg Fundraising).


Continue creating your budget by adding additional headers, subheaders, and categories.

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To delete a category:

  1. Click the More button to the right of the Budget Net column.
  2. Then click the Delete button.
  3. Click Save Changes.


To delete a heading:

  1. Click the “hamburger” to the right of the heading name. A drop-down will appear, click Delete. Note, that you can only delete a heading if there are no categories or subcategories listed beneath it.
  2. Then click Save Changes.


To add a heading, subheading, or category:

  1. Click on the corresponding button.
  2. Click Save Changes.


To move a heading:

  1. Click Arrange Headings in the static toolbar at the top of the screen or click and drag the item to the position you prefer.
  2. Click Save Changes.


To move a category:

  1. Click Arrange these items to the right of the Header that it’s located within and use the Alphabetize button or the up/down arrows to re-order these or click and drag the item to the position you prefer.
  2. Click Save Changes.



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