Budgets & Plans – Onyx ERP
The Budgets system prepares estimated budget plans and monitors the deviation of actual results from the budget.
- The Plans system sets targets for sales, purchasing and collection and follows up their achievement.
Key functions
- Issue budgets for any desired period (annual, half-yearly, quarterly, monthly) or in any format management prefers.
- Create a quick working budget, for example by taking a previous year's budget and applying a percentage uplift.
- Transfer amounts between budget lines.
- Restrict the company's general cash expenses to the budget set for them.
Key features
- Turn the company's strategy into a work programme and verify that its operations achieve the future goals set in the budget.
- Work on multiple budget versions until the final budget is approved.
- Anticipate problems before they occur, using the options available in the budget.
- Take the right decisions to address deviations in plans and budgets.
- Motivate staff to perform at their best by involving them in designing plans and budgets and linking results to incentives and personal experience.
- Compare actual results with budgets, correct negative results and reinforce positive ones.
- Link budget performance evaluations to incentives and personal development.
