The Budget Wizard is a useful tool for those operators who are not as familiar with building budgets or who simply want a guided process. Alternatively, you can use our Full Year Budget.
1. Click on BUDGET on the left hand navigation and then BUDGET WIZARD.
2. Click on the green CREATE NEW BUDGET button.
3. If you have historical data you would like us to use when helping you create this budget choose YES on the pop up. Otherwise, click no.
4. Assuming you chose no, enter the total monthly sales goal you have for the month. Click on the EQUAL icon and your monthly budget will be spread equally among each day of the month. If you have historical data, you can click on the ARROW icon to have it spread based on daily historical sales. Click NEXT at the bottom of the page
Note: You can manually adjust the sales for any day. It will change your monthly total as well.
6. Determine if you'd like to budget a PERCENTAGE of sales or a DOLLAR amount. If you choose percentage, the app will automatically create the dollar budget for that category. If you choose amount, the app will automatically create the percentage of sales. The total percentage must equal 100% if you've chosen percentage or your total monthly sales goal if you've chosen amount. Click next at the bottom of the page.
7. Determine your target CoGS. On the left hand side of each item will be a % or $ to indicate if this particular account is percentage driven or dollar driven. If you would like to change this, go to SETTINGS > LIST > ACCOUNT. Click next at the bottom of the page.
8. Complete the same process for discounts.
9. Determine your labor budget.
10. Determine your Direct Operating Expense (DOE) Budget.
11. Determine your Controllable Expense Budget.
12. You can adjust your budget at any time by clicking on the edit icon.
