In this article you can find details on how the Budget vs Expenditure report is generated.
This article is for the excel version of the report. If you are looking for information regarding PDF version please click here.
The Budget vs Expenditure (BvE) shows a comparison between expenditures you have invoiced, paid and the budget for the specific financial year.
Remark 1:
- In this article we assume you have only one budget for the financial period. This report will work the same for multiple budgets as long as each of them is using different schedules.
- If you have two budgets for the same financial period and both are the using the same schedules your Expenditures Paid and Invoiced will be exactly the same for each of those budgets.
Report BvE is block a specific report and can be downloaded only from the Block/Reporting section.
Once you click on the button you will be asked to select the budget and report format:
Using the option 'Use the invoice period for selecting invoices' you can include invoices based on their invoice period. You are adding the period to an invoice when adding supplier's invoice. For invoices without a period selected, the report will be using the Issue Date.
Below we will explain each of the 3 tabs in the report in detail. You can also find an example report attached to this article.
1. Summary
This tab shows you expenditures grouped by category.
On the top you can find the report header which will have all the basic details about the report
Below the header you will find a table with the following columns:
Nominal Code - This will show if there is a nominal code is assigned to the category. This is not mandatoryfor the category so you might find it empty if you have not added this to the categories yourself. More information on the categories and the nominal codes can be found in our article: Adding Category to Resident
Category Name - This column shows all categories included in the report. These are all non zero categories in the budget and any categories that have expenditure (invoice, supplier payment, ledger item, payment on account and refund) and the schedule from the budget assigned. Additionally all these categories need to have one of the following types: Expense, ExpenseAndRevenue, ExpenseAndDocumentation and ExpenseAndReport.
EXAMPLE 1:
Assume we have a Budget for 2020 which is only using schedule called Schedule 1 and that schedule has two non zero categories: Garden Maintenance and Building Insurance
Then in 2020 only four invoices have been created:
(1) for Window Cleaning linked to Schedule 1
(2) for Lift Repairs linked to Schedule 2
(3) for Garden Expenditure linked to Schedule 1
(4) for Garden Expenditure linked to Schedule 2
If we download BvE for Budget 2020 then in the column 'Category Name' there will be only Garden Maintenance (because it is in the budget and invoice (3) is linked to Budget Schedule 1), Building Insurance (because it is in the budget) and Window Cleaning category (because invoice (1) is linked to the schedule).
Category Type - This column will show you what the category type is.
Budget Total Amount- This will show the amount included in the budget for each of the categories. The categories that have not been included in the budget but had expenditures (Window Cleaning with invoice (1) from EXAMPLE 1) will have this cell empty.
Budget YTD Amount - Budget year to date amount - This will only be different from the Budget Total Amount if you are downloading the report for a current financial year that has not yet finished. It will show you a percentage of the Budgeted amount based on the report date.
EXAMPLE 2:
If our Budget for 2021 (Jan-Dec) has 1000 added for Building Insurance and we download this report on the 31 March (the end of first quarter) then the Budget YTD will show £250
Expenditure Invoiced Amount - This column shows the total of invoice items per category. Invoice items will be included in this column if at least one of the following applies to them:
- Invoice has no period selected and its issue date is in the Financial Period of the budget
- Invoice has a period selected and it overlaps with budget's financial Period (this condition applies only if option 'Use the invoice period for selecting invoices' has been ticked)
EXAMPLE 3:
We are downloading report for the Budget 2020 linked to financial period 1st of January to 31st of December 2020.
We have following invoices:
(1) Invoice with no period selected with an issue date 10.05.2020
(2) Invoice with no period selected with an issue date 01.02.2021
(3) Invoice with period selected 25.03.2020 - 24.03.2021 and issue date 01.04.2021
In our BvE report only invoices (1) and (3) will be included. The first one because the issue date falls into the budget's period and the second one because its period overlaps with budget's period.
Expenditure Paid Amount - This column shows the total of all expenditures (except invoices) recorded in that financial period. These are Supplier Payments, Ledger Items, Payments on Account, Refunds from Supplier. The only criteria to be included in the total are to have the issue date in the budget's period and be linked to the schedule from that budget.
EXAMPLE 4:
In following example we assume our financial year is Jan to Dec
We have following 5 items:
(1) Invoice raised in 2020 for £200 liked to Schedule 1 which is part of the Budget 2020
(2) Payment for invoice (1) dated 01/03/2021
(3) Ledger item dated 01/03/2020 for £200 linked to Schedule 2 which is part of the Budget 2021
(4) Refund from the supplier dated 01/04/2021 for £300 linked to Schedule 2
(5) Payment on Account for supplier dated 01/02/2020 for £400 not linked to the schedule
BvE 2020 will include item (1) in the column expenditure invoiced but nothing else from the list above. Please see the reasons below:
(2) - dated in 2021
(3) - linked to the incorrect schedule
(4) - dated in 2021
(5) - not linked to the schedule at all
BvE 2021 will include items (2) and (4). Please see the reasons below:
(1) - dated in 2020 and linked to the incorrect schedule
(3) - dated in 2020
(5) - dated in 2020 and not linked to the schedule at all
Status from Invoiced - This column will verify if the amount in column Expenditure Invoiced Amount is lower than the one in the Budget Total Amount column. If it is lower it will say 'OK' and if it is higher then the message will be 'Over budget amount'.
Status from Paid- This column will verify if the amount in column Expenditure Paid Amount is lower than the one in the Budget Total Amount column. If it is lower it will say 'OK' and if it is higher then message will be 'Over budget amount'.
Remark 2:
- This report will not include supplier Credit Notes (also applies to Opening Balances in credit) which have not been allocated to invoices
EXAMPLE 5:
The following items are showing on the supplier's statement:
- Invoice for £200 dated in 2021 and linked to that year schedule
- Payment linked to the invoice for £190 dated in 2021
- Opening balance for £100 credit
- Credit Note for £70
We have £170 un-allocated credit of which we will use £10 to pay our invoice in full and we will date it in 2021
Our report will include following items:
- Invoice - in the column Expenditure invoiced
- Payment- in column Expenditure paid
- Allocated credit of £10 in column Expenditure Paid
The report will not show the outstanding un-allocated credit of £160
2. By Schedule
This tab will show the same information as the Summary tab but it will group them by a schedule. On top of all the columns from the Summary tab we now have one showing us the name of the schedule.
Each of your schedules will have its own totals and at the bottom and you will still see the final total which will be exactly the same as in Summary tab and will be the sum of all schedules totals.
3. Full Detail Invoiced
This tab shows a breakdown of individual items (in this case invoice items) which constitute the sum for each of the categories form the column Expenditure Invoiced Amount in Summary tab.
EXAMPLE 6:
If in the Summary tab you can see Expenditure Invoiced Amount for Cleaning is £308 then is Full Detail Invoiced you can see each of the items calculated to get that sum:
- Invoice 1 for £106
- Invoice 2 for £202
Remark 3:
- Please remember the system is looking at the Invoice Items not Invoices which means if invoice has two items for two different categories then in Full Detail Invoiced you will see two lines with the same invoice number but different categories and amounts allocated to each of them.
- Invoice items on the same invoice can have different categories and schedules so it is also possible that one of them will not show at all.
You can find following headers in this tab:
Category - shows a category assigned to the item
Category Type - shows the type of the category from the first column
Nominal Code - shows the nominal code of the category from the first column
Schedule - shows the schedule linked to this invoice item
Amount - shows the amount of the invoice item. It will be matching invoice amount only if that invoice has only one item
Date - shows the item issue date. The item date will be exactly the same for all items from the same invoice. It will be invoice Issue Date.
Description - shows the item description. Can be unique for each item and is independent of Invoice Description.
Invoice Period - It shows the period assigned to the invoice. If this cell says 'NA' it means this invoice has no period assigned.
Reference - shows the invoice number
Supplier - shows the supplier linked to the invoice to which this item belongs
3. Full Detail Paid
This tab is showing breakdown of individual items (in this case Payments, Ledger Items, Payments on Account, Refunds) which constitute sum for each of the categories in the column Expenditure Invoiced Paid in Summary tab.
You can find the following headers in this tab:
Category - shows a category assigned to the item
Category Type - shows the type of the category from the first column
Nominal Code - shows the nominal code of the category from the first column
Schedule - shows schedule linked to this item
Amount - shows amount of a single item
Date - shows the date added to the item
Description - shows description added to the item. For payments it will show invoice description of the invoice item it is allocated to.
Invoice Period - It shows the period assigned to the invoice. If this cell says 'NA' it means this invoice has no period assigned.
Reference - shows invoice reference of the invoice this item has been linked to.
Supplier - shows supplier linked to the item. In the case of the General ledger it shows whatever was added in the field 'Counter party'