 Zero Accounting Software 2023 Budgeted Income Statement Reports. Get ready to become an accountant hero with Zero 2023. Here we are in our custom Zero homepage going into the company file. We started up in a prior presentation, Get Great Guitars. Let's duplicate some tabs to put our reports in. We're going to go to the tab up top and duplicate that tab. And then back to the tab, to the middle. Accounting drop down, opening up a balance sheet report. This being a comparative one. If you don't have a comparative one, open the standard one. Tab into the right. Accounting drop down. Same thing on the income statement. This is a comparative income statement. If you don't have it, open a standard income statement. Last time, or in prior presentations, we've been putting together our budget. So we basically took the data input or the information that we had in our system. Two months of data input. We exported it to Excel as our starting point to create a budget. We wanted to create a budget for the entire year. Therefore that two months of data input, we kind of thought of as if it was the prior two months of November and December. Used it to construct a 12 month budget. And then we imported it from here back into zero so that we can now run reports from it. So note how zero fits into the system. Then we want to think of it as first. We want to export from zero typically to something like Excel so that we have more capacity in Excel to create our budget oftentimes. And then we want to take it from Excel and put it back into zero, possibly using the template to do so. Or possibly just doing the data input so that now once in zero, we can run reports from zero in our same system as time passes. For example, we're imagining here January and February has passed. And therefore we have actual data for January and February as well as the budgeted data. And we can run variance analysis within zero, which is one of the major tools that you will have for it. All right, let's open up another tab and look at some of our major reports. We'll also see how we can kind of adjust the reports if there's an error in it or something, which we have here. We have an error in it. So I'm going to duplicate it, which we made on purpose. We purposely did the error because we don't really make mistakes over here. But sometimes people make mistakes. So we try to demonstrate in our practice problems like mistakes being made and how you can fix them if you make mistakes. So I'm going to hit the drop down and let's go into our reports. And then we're going to go into the... So we made our budget manager. Now we've got our two main reports, which is the budget summary and the budget variance. The variance is the one that really is helpful as time passes because it gives us that differential, whereas the budget report kind of just repeats what we kind of have in Excel over here, although it gives us those subtotals and whatnot in a nice format for us. So let's open up the summary first. I'm going to right-click and duplicate it. And up top we've got our summary report. So this is the data. We've got the overall budget. Remember, we could have multiple budgets that we could put together. So that's another great tool that we can have because we might want to run different variants or different variational budgets. Then we've got the from point. We're going to be saying January 2023. The periods represent the intervals that we want to show. So normally we would have the month by month breakout or you might have like a three month by three month. That would be a quarterly type of breakout or for the entire year. So currently we have here one month at a time and the number of periods that we want to show is we're going to show the 12 periods. So if I update that, then we're showing January on through December. So if I wanted to show something on a quarterly basis, then I could go and say I want to show it every three months. And then I would think that we would only want four periods, four periods of three month periods. And that would give us our quarterlies. So now we've got March, June, September and December. And then if we wanted a half year, like every six months, we can go to the six months one. And in that case, I would think we would only want two periods and those would end on June and December. And then we could do a yearly one with 12 month periods, which in this case, we only have one because that would be our yearly number. So pretty neat breakout to kind of be able to get us to those different types of reports that could be like a quarterly report or a semi yearly report or a yearly report. So I'm going to go back down to the months because that's the way we did our data input. We want 12 months or 12 periods. And there we have it. Now we had this issue with the data input last time. And we can see if I look at this compared to my data input here, I'm at 1037 in January and here I'm at 1706. So one way we can try to compare this is to just keep on looking at the totals as I go down. The first thing I would look at is that 34606 and go back on over here and say, all right, does that tie out to these three? These three in January, 34606 it does. And then I get down to here. I've got the cost of good soul 25275. That looks 2522977 and then we've got this amount here. And that's basically the amount that could be throwing us off because it's going into basically other income. So if I take my difference down here, I could say, what's my difference? If I took my 101706 and say, what's the difference between the two? It's that 669. If I divide that by two, I could see it's that 334. So this one's going the wrong way because it's in that other category. So it's in here and it's it's that other income. I want it to be like shown as an expense. So I'm going to put that in as a negative and that hopefully should shore this up. So I'm going to go back to the first tab and let's fix our budget by going to the accounting dropdown. And then we're going to go into our reports and then we'll go into our budget manager, the budget manager. And then I'm just going to go into the I'm going to get rid of the prior period showing and then let's show it on the full view. That looks good. And then I had this amount. I want it to be in there as a negative. So I'm going to say negative and I'm just going to put the negative all the way across because I don't want it to mess up anything else. I'm just going to go into each of these even though it's tedious and I probably could copy to cross but I'm kind of hesitant to do anything drastically incorrect since this one.