This article describes the Cash/Charge Budget vs Actual report, which compares the budget set on each General Ledger Account Code against the cash received or charges raised for a selected date.

Overview

The Cash/Charge Budget vs Actual report sets the Budget Amt configured on each General Ledger Account Code (GL Acc Code) against the revenue actually recorded, and shows the variance between them for the selected date, the month to that date, and optionally the financial year to that date.

The report uses the same revenue basis as the Cash/Charge report. Select Cash to report receipts allocated to charges, or Charge to report charges raised, according to the Accounting Method in place at the property.

The Budget columns are only populated once a Budget Amt has been entered against the GL Acc Codes, so set the budget figures up before running the report.

Rows are grouped by the Grouping assigned to each GL Acc Code, with a subtotal for each Grouping and a Grand Total at the end of the report. Finance and management staff typically run it at end of month or end of financial year to compare performance against budget.

Please Note! RMS is highly configurable. Some Terminology, User Access & Permissions, Images, Labels, and Functions used in these articles may differ from your setup. CLICK HERE to find out more.

Use Cases

• End of month review - the accounts team runs the report on the last day of the month to compare month to date revenue against the budget set for each GL Acc Code.
• End of financial year position - management selects the Year To Date report type to see how each GL Acc Code finished the financial year against budget.
• Find the GL codes driving a shortfall - the Variance columns show which GL Acc Codes are above or below budget, so attention goes to the codes that moved.
• Compare properties - on a multi-property database, select Group By Property to see each property's budget performance separately.

How to Access

In the side menu of RMS, go to Reports > Accounting > Cash Charge Budget Vs Actual.

Report Options

The report options below control the date the report is generated for, which period columns appear, and whether cash or charges are reported.

Tip! Report build screens default to a common use configuration, and selections can be made as required.

Column Headers

Each row on the report is one GL Acc Code. The Budget, Actual and Variance columns are repeated once for each period group shown on the report.

The period groups shown across the top of the report depend on the Report Type selected.

Data Sources & Calculations

Budget figures

Budget figures come from the Budget Amt entered against each GL Acc Code. To set them, go to Setup > Accounting > GL Acc Codes, select the GL Acc Code, then use the Expenditure tab to enter the Budget Amt for the required year and month.

Where no Budget Amt has been entered for a GL Acc Code, its Budget columns show 0.00 and the Variance equals the Actual figure.

Actual figures (Cash and Charge)

The Cash option reports the Financial Revenue received in the period, by the GL Acc Code of the charges the receipts were allocated to. Receipts that have not been allocated to a charge report against the Suspense Receipts GL Acc Code.

The Charge option reports the value of charges created on accounts in the period, by their allocated GL Acc Code. Use Cash for Cash Accounting properties and Charge for Accrual Accounting properties.

Reporting periods

All three period groups are calculated from the Run Now date, not from the current date. Selecting a Run Now date in the past reports that date's position, so the report can be used to reproduce a month end or year end figure.

The Year To Date columns use the property's End of Financial Year setting rather than the calendar year. This is configured at Setup > Accounting > Accounting Options > Account Defaults.

Groupings and totals

Rows are bundled under the Grouping assigned to each GL Acc Code, with a subtotal for every Grouping and a Grand Total at the end. GL Acc Codes with no Grouping assigned are listed first, above the first Grouping heading. Groupings are set at Setup > Accounting > GL Acc Codes.

Please Note! A negative Actual figure, for example a discount or a write off, produces a negative Variance where no budget has been set. Read the Variance columns alongside the Actual columns rather than on their own.

Related Reports

• Cash/Charge Report - the same cash and charge revenue by GL Acc Code, without the budget comparison.
• Budget Vs Projected Report - compares the Category Budget against occupancy and revenue.
• Daily Charge Report - a daily breakdown of charges raised.
• Daily Cash Report - a daily breakdown of receipts.

Related Articles

• Set up General Ledger Account Codes
• Accounting Options - Account Defaults Tab
• Financial Revenue