Budget tab
Practice Manager only
The Budget tab is only available on the Employee page.
The Budget tab displays the predicted budget for the employee for a financial period, broken down into the accounting periods set up for your practice. You can view information for a previous year or select a new year to define from the Budget Year drop-down.
The number of chargeable work hours that the employee is expected to do (as defined by the employee category they have been assigned to) are multiplied by the employee’s standard charge rate. This allows for a yearly employee budget to be estimated and to be used to track performance throughout the year. This information is used in reporting to compare budgeted figures against actuals.
(AE) Each accounting period is split into two: one displays the budgeted hours, the other the budgeted values. The information in these fields can be entered automatically or manually.
To enter the information automatically, click AutoFill. This fills the time fields based on the employee category assigned to the selected employee and the value fields based on the employee’s standard charge rate.
To enter information manually, click Add to add an accounting period, then enter the hours for the employee in the fields.
Budget tab fields
Field | Description |
|---|---|
Period | This is the accounting period. |
Std Hrs (AE) Standard Hours (AO) | Enter the standard working hours per month for the employee. |
Chg Hrs (AE) Charge Hours (AO) | Enter the chargeable hours for the employee. |
N/Chg Hrs (AE) | The non-chargeable hours per month. This is automatically calculated from the difference between the previous standard and chargeable hours. If the checkbox for an accounting period is selected, it means that reasons for the non-chargeable time have been entered. Click this field to access the Reason for non-charge window where you can view or enter the reason for the non-chargeable time (e.g., annual holiday or exam leave). The reasons available for selection are the assignment types set up by your system administrator which are marked as internal. |
W/O Hrs (AE) | Enter the number of hours expected to be written off per month. |
Bill Hrs (AE) | The number of billable hours per month. This is automatically calculated from the other entered values, but can be overwritten. |
Rec Amt (AE) | Enter the amount to be receipted for the month. This value is automatically calculated if the Auto Fill option is used. It is based on the number of chargeable hours multiplied by the employee’s standard charge rate. This field can be used for each employee for the receipts to be collected from the time billed by them or it can be entered for each partner (e.g., the receipts to be collected for the clients belonging to the partner). |
Standard Amount (AO) | The standard amount is automatically calculated based on the standard hours entered and the associated charge rates. |
Charge Amount (AO) | The charge amount is automatically calculated based on the charge hours entered and the associated charge rates. |
Totals | The year totals (in bold for MYOB AO) are calculated at the bottom of each column of the table. |
Delete (AE) | You can delete an accounting period by selecting any of the fields for a period and clicking Delete. |
Clear (AE) | You can delete all accounting periods in the selected year using Clear. |