The“budget items” in the Collabox refer to revenues and expenses (income and expenses).
In order to record these operations correctly, it is necessary to configure your Chart of Accounts. Make a list with the names and numbers of all the revenue (income) and expense (cost) accounts you need, based on your business activities. Your accountant can advise you on this.
The budget items will therefore have a number and a proper name in order to correctly identify the nature of the operation. This numbering system is used to produce the profit and loss statement and will help you easily find the accounts in the Collabox.
The income statement is the financial statement that summarizes a company’s revenues and expenses over a given period of time (monthly or annually). The income statement contains the two most important pieces of information about a company – its profit or loss.
Create the list of budget items
- Click on the Accounting icon
- Go to the menu on the left and click on budget items
- Click on Add a budget item
- Enter your bill of material
- Record each new budget item added
- Organize budget items by category
Here is the form to add a budget item in the Collabox for the first time
How do I create lists of budget item categories?
There are two ways to access the link that will take you to the category configuration area:
a) From an existing budget item
b) From the space for creating a new budget item (link : Adding a budget item )
Here is the procedure:
Once on the line item form, look for the heading called Category and locate the clickable link :
Updating job categories (This is where you can create your lists).
The link: Add a budget item category Will allow you to enter the name and order for visual display.
Create a disbursement
Each “budget item” requires the creation of a“disbursement“. A disbursement is the word used in Collabox terminology for disbursements.
Each disbursement must be associated with a supplier. You must therefore make sure that the supplier exists on your list of suppliers. However, if this supplier does not exist at the time of the recording of the operation, you will have the possibility of creating it in parallel and quickly.
The access to the list of disbursements is possible in the left menu, as it appears in the picture below. Remember that you can use the different options to search according to the criteria that may suit you best.