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Tips on creating budgets in KEY Accounts

Terminology used

1. Time Lag. Sets the interval between invoice and payment (Trade and Cash). Figures entered in the Trade AMOUNT column will automatically be delayed by the Time Lag interval in the Cash Flow Amount column.
2. Notes. Notes entered here relating to a Nominal or Nominal/Enterprise combination can be viewed in Management Reports.
3. Spread. A figure entered in this row will be divided equally across the number of months for this budget.
4. Per Unit. Allows you to enter a unit price for the commodity you are buying (or selling).
5. Quantity. Works with the Per Unit option to calculate total value of your budget. e.g. 200T(QTY) of wheat at £84/Tonne(PER UNIT) will produce £16800 in the AMOUNT column.
6. Selection. This option allows you to choose a single, group or range of nominals or enterprises with which to work. Having selected the range you can move from one to the next using the NEXT/PREVIOUS buttons at the bottom of the screen.
7. Options

Copy allows you to copy either last year's actual figures, last year's budget, or a range of figures into the current budget.

Percentage allows you to increase or decrease the amount and/or quantity by a set percentage.

Opening Banks allows you to enter the bank balances at the start of the budgeting period.

Any individual bank balances entered within budgets will be amalgamated into one balance for any cash flow reports. This figure will show against the default bank for the company. NB: The month and year settings on Bank Opening Balances allow the user to set a figure for a different period should they wish to run a report from a start date other than the normal budget start date.

The cash flow report under Management enables a cash flow to be run for a single bank account. If a user wishes this report to compare actual to budget they would need to create a budget for each bank account. (These could then be merged for an overall budget using the Excel import routine).

Interest automatically calculates the interest per month at the percentage rate you decide. The total bank balance at the month end is used to calculate annual interest for that month, divided by 12 and automatically entered to the interest nominal you select.


When entering Sales, Purchase and Overhead figures they are automatically entered as Debits and Credits. However when using Capital codes (Private, Drawings etc.) ensure you read the bottom of the screen so that you enter the figures correctly.

If editing last year's copied figures be aware you may have allocated figures to enterprises. Remove figures for enterprises no longer relevant.

Import/Export Office 2007.

 Microsoft Office 2007 saves files with a different file extension to previous versions, this has implications for KEY Accounts users importing budgets from Excel. When you export budgets out of Budgets to Excel they will be fine to use. By default you will be saving them with a .xlsx on the end. But to get them BACK into Key, you will need to SAVE AS, and change this extension to .xls. 

If you wish to export a budget with some figures to Excel, but want to include ALL your nominals in the export, not just those with figures on, there is an option to do this.