The income statement reflects the company’s finances in real time. It is an accounting tool linked to several elements, including budget items and the projected budget.

For more information on budget items, please refer here.

Create a budget forecast

The budget forecast is a very important tool for a company that wants to stay in control of its business. To produce a budget forecast, first go to the main menu “Accounting”.

Then select the “Results Report” feature from the left-hand menu.

Now add a budget and indicate the base year.

Be sure to check that your organization preferences match the year of the budget. In the left-hand menu “Organization”, select the “Accounting” tab.

Then, scroll down to that function and check it if necessary. For example, for the fiscal year beginning April 1, 2022 and ending March 31, 2023, the budget year will be 2022 if the box is not checked, but 2023 if you choose to check it.

After creating a new budget, you will see an entry page where all your budget items will be presented according to the “Income” tab and the “Expenses” tab. It’s your turn to play and fill in the fields according to your needs.

View the results report

To access your real time data, go back to the main menu “Configuration”, then to the left menu “Results report”. Choose the right reference year and open the link.

All expenses entered in the Collabox, as well as all invoices and tax remittances will appear as they occur. You can choose to display or not the “planned budget”, as well as the “remaining budget”.

You can also hide the summary at the top of the page or download an Excel file to send to a third party, for example your accountant.

The alt attribute of this image is empty, its file name is download-states-results-excel-1024x209.png.

Watch several videos on our Youtube channel and visit our Tips and Tricks section in the Blog to continue your Collabox configuration!

If you have any questions, please contact us and we will be happy to answer you. (418) 907-9274