How can I manage/handle budgeting and forecasting in Metro Accounting?
In Metro, managing a financial budget involves defining budgetary positions, creating budgets, and tracking actual performance against the budgeted figures. Here’s a step-by-step guide to managing a financial budget:
1) Go to the 'Accounting' module.
2) Define Budgetary Positions. A budgetary position defines which general ledger accounts are affected.
Go to Accounting > Configuration > Budgetary Positions.
View the Budgetary Positions Dashboard.
Click on the Create Button.
Name the position (e.g., “Sales Expenses”).
Add one or more General Accounts relevant to that position (e.g., expense accounts).
Select account as per your needs then click on the select button.
Now, Click on the Save button.
3) Now, Go to Accounting > Accounting > Budgets.
View the Budgets Dashboard.
Click on the Create Button.
Name the analytic account (e.g., “Marketing 2025”) and link it to the related department or project.
Each Budget Line represents a specific allocation of funds linked to a budgetary position and an analytic account.
| Field | Description |
|---|---|
| Budgetary Position | Sales Expenses – This defines the set of General Ledger (GL) accounts that this budget line tracks. These are usually expense-related accounts. |
| Analytic Account | Test Project – Used to assign budget tracking to a specific department, cost center, or project. It allows detailed reporting. |
| Start Date / End Date | 01/04/2025 - 31/03/2026 – This budget line will be active for the selected fiscal year (FY2025-26). |
| Planned Amount | S$ 1,100,000.00 – The amount planned to be spent or earned (negative for expenses). It's currently zero. |
| Practical Amount | S$ 0.00 – The real transactions recorded in the system under the selected accounts and analytic account. |
| Theoretical Amount | S$ 0.00 – The expected amount based on the time elapsed in the budget period. |
| Achievement | 0% – Shows the percentage of actual spending (or earning) versus planned amount. |
Now, Click on the Save button.
4) Workflow Status (Top Right Progress Bar)
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The budget is currently in Draft status.
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Once validated, it will progress through:
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Confirmed
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Validated
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Done
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5) Now, Click on the cofirmed button.
6) Click on the Approve Button.
7) Click on the Done Button.
The Budget Analysis Report in Metro is a powerful financial management tool that helps you monitor, compare, and control your actual financial performance against predefined budgets. Click Here
It is primarily used by finance teams and accountants to track how closely the company is adhering to its budget plans.
To get more details to how to manage financial budgets in the Metro Accounting System, please do contact us at support@metrogroup.solutions