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franchiseIQ has extensive budgeting capability to allow actual results to be measured against your budget.
Budgets are held throughout the system in the same structure as the actual data so that comparisons and variances can be easily produced.
You can extract an Excel file directly from the system pre-populated with your listing of GL Accounts (and departments) along with existing budget or actual values.
You can then update the extracted values as you wish in Excel for later upload back into franchiseIQ. They will then be visible in reports and within the GL Explorer screen.
As an example, you could choose to download all actual values from last year and then apply a simple formula in Excel to adjust these by a certain %.
These values could be then imported and used as the basis for your current year budgets.
Similarly, you could take last year’s budget values and then adjust them by a certain % and re-import those as this year’s budgets.
The following features are available:
Budgeted User Defined Statistics can be maintained for reporting non-financial measures and can be combined with financial results to produce meaningful budgeted KPIs for comparison against actual KPIs.
Budgets in individual entities own base currency are translated to common base currency within the consolidation routine for detailed comparison against overall group wide actual results.
Easy to use Excel template can be used to update budgets from an existing financial projections or budget model to franchiseIQ original or revised budget values.
GL Explorer function allows budgets and variances against actual to be interrogated by GL Code, GL Category or via the analysis code and group structure.
"Budgeting Capability" is part of the franchiseIQ line of products, developed by FranchiseIQ.
franchiseIQ is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.