 Zero Accounting Software 2023 Budgeted Income Statement Data Input Get ready to become an Accountant Hero with Zero 2023 First, a word from our sponsor Well, actually these are just items that we picked from the YouTube Shopping Affiliate Program, but that's actually good for you, because these aren't things that we're just given to us from some large corporation Which we don't even use in exchange for us selling them to you These are things that we actually researched, purchased and used ourselves Acer 27 inch monitor I've been using an Acer monitor as my primary monitor for a few years now This is the first Acer monitor that I have used after having used a series of different brands of monitors in the past The Acer monitor has been performing well, and I'm trusting the Acer brand more and more as I use the monitor I have a 27 inch monitor, which I think is ideal for what I do, which is of course the screen recording and the editing If you would like a commercial free experience, consider subscribing to our website at accountinginstruction.com or accountinginstruction.thinkific.com Where we have many different courses, you can purchase one at a time or have a subscription model, giving you access to all the courses Courses which are well organized, have other resources like Excel files and PDF files to download and no commercials Here we are in our custom zero home page, going into the company file we set up in a prior presentation, that's get great guitars We're going to duplicate the tabs to put the reports in like we do every time Right click in the tab up top so we can duplicate it, right click in the tab up top so we can duplicate it Back to the tab to the middle, accounting drop down, opening the balance sheet This is a comparative balance sheet, if you don't have it, open the standard one Tab into the right, accounting to the drop down, income to the statement This is a comparative income statement, if you don't have it, you can open the standard one there as well In prior presentation, we have downloaded information from zero, basically a trial balance that we can then format into an income statement And then create a budgeted projective income statement in Excel which we have done here Now what we would like to do is take that budgeted income statement and put it back into zero using the budgeting tool Which is different than the normal data input process because of course we're projecting out into the future The reason we want to do that is because we want to be able to run reports within zero that can do comparative reports So as time passes, say we budgeted in the past and we budgeted for January and February I can then run reports to compare what we thought was going to happen to what actually happened as time passes That's one of the great tools to have zero to have to put it back into zero so that we can have that information Now we have inputted into the zero system two months of data input for actual data input for January and February We used that as the baseline to then create our budget and we kind of imagined that this is information from the prior two months December and November of the prior year so that we can budget out project starting in January So the reason we want to do that is now that I have January and February I'm going to put that into the system as well as all 12 months and we'll be able to run reports Which will show the actual and budget for January and February And then everything going forward from that we don't have any actual data to And in practice of course as time passes we can compare what actually happens to the budget Alright let's go to the first tab and see where the data input for the budget is It's under the accounting drop down we go into the reports and then we're going to go on down move on down to the budget manager The budget manager Now you could I have multiple budgets if you wanted to this is the overall budget kind of the default budget You can add a new budget if you if you so choose and simply name the budget here We're just going to use the overall budget and we're going to start it on January So you could have different start dates if you wanted to It's you know the common budget is to project out you know on a 12 month basis But you can you know do different variations as you choose And then we've got the actuals so this is showing the actual numbers down here Which could be useful if you were trying to construct your budget you know within zero But that's not what we recommend doing really and that's not what we did here What we did is we exported to excel to construct the budget And now I just want to do the data input so what I would like to see is no actuals I'm going to say none and update So so now we just have our data input fields down below And then the periods we could have 3 months 6 months 12 months 24 months We're going to add a year's worth of budget so we're going to go for 12 months out And there's our budget information Now zero has a nice tool down here that we could import the budget So if I look at the import option note that I could like download the template here And say give me the template in excel or CSV file And we could open this and populate it Now you could try to use this template as your budgeting tool Instead of building it out like we did here but it would still be a little bit difficult to do Because you'd probably start off with your past data But also I could it might be a little bit faster if I take if I was to take my data here And just copy and paste it into the template And then import the template So that's just a method that you might want to keep in mind We're not going to do it that way here because I want to see how to actually put the data input into zero without the template But that could be a useful tool to save some time So I'm going to go back on over I'm going to go back to the budget manager here And we're just going to do the data input down here we've got the import We've got the exporting saving and the cancel This is in like the non wide screen It might be easiest if we go to wide screen once you're ready to do the data input And that gives you just a little bit more space here so that you could see a little bit further out to the right It kind of locks in the screen Alright so let's just try to do this one line of time It's a lot easier if you had like two screens that you could use But we'll just we'll work with what we've got here right so we've got the sales number Now we've got the account number over here that could be a little bit useful Sales number 29226 So I'm going to say alright sales 29226 29226 That's account 4350 right Now I want to count hold on a second I'm going to make this whole thing green I want to count 4000 Yeah 49226 Now if I hit this green button in the middle It gives me my compounding options So I can apply a fixed amount to each month If I want to just copy it across I can adjust by an amount each month Or I can adjust by percentage each month So what I want to do is adjust by that percentage because that's what we did here We've increased it by 10% so 110% So I'm going to say adjust by percent each month And I'm going to say and I'm not sure if I put 110 or just 10% I'm going to say 10% and see what it does there I'm going to say copy it across and so the next month should be 32149 boom looks good The total comes out to 624982 So 624982 624996 Slightly different what happened Now maybe it's just a rounding difference it looks in material Let's keep it rolling I think that's good so we'll go to the next one Service let's go and highlight this one This is account 43004250 So 4300 back to January Data input 4250 Alright and then this one We increased by just a solid amount of $1000 So I'm just going to say let's go to the arrow And I want to adjust by an amount of just $1000 Bring it up by $1000 each time period And apply it out so boom It comes out to a total of 117000 117000 let's see if that is what we have here Yeah looks good moving B to the end Next one all sort of A's we're going to say this one Goes up by 5% rental income Account 430501130 Rental income Hold on a second I put this one in the wrong box I knew it I knew I did something funny there It should that should be the service Item the whole thing the whole thing is Messed up no it's not stay calm stay calm What I'll do is I'll put this one here 4250 And then 4250 was increased by the 1000 Okay I see what I did I see what I did So I'll put the 1000 here and then Apply so I fixed it to this one And then this one needs to be changed To the proper amount of the 1130 And that goes up by 5% so this one needs to be 430 and then this one's going to go up by 5% Each period adjust by percent 5% Looks good so it's compounding so zero's got that nice functionality Allowing us to do those simple kind of Mathematical functions for our formulas so I can go Alright what's next man this is easy Interest expense We're going to go back on over here and say Where's the interest expense There it is So here's the interest expense we're in Jan So that's going to be the 334 334 now this one went down by a percent So this I think this is designed to do An increase but I think I said maybe I can make it a negative It's going to go down by 5% because I took Over here I said that I wanted it to Be 95% so that's a decrease of 5% Let's try that out and see if it works so that would bring Us to okay let's check the total 306 306.7 So I'm going to be okay with that It's a budget so a little bit of As long as it's in the ballpark right as long as it's in the ballpark Alright so this one we didn't do anything for this one And then this one the cost of goods sold 22977 so let's go into the cost Of goods that are sold 22 we need to be back in January 22977 22977 that one goes up by the same amount as the sales line Because it should be relational so that's One goes up by 10% So I'm going to say percentage increase On the increase and that totals up to 491361 so let's just double check That 491361 That's close and so we're going to say bank Service charges Is just going to be the same so these should be easy going forward from here so we're going to say Other income where's my expenses Bank service charges Doneday Where are they Bank charges This is 18 and we can just copy that one across Just do the same thing, apply a fixed amount boom all the way across I'm not even going to check it because that one should be easy We have the insurance this is the one where we said We just applied it weirdly in the middle kind of on a cash basis because that's when We're going to pay it so we're going to say insurance Insurance right here We said 6000 and Feb and 6000 And I think September we said it was For a total of 12,000 on the year that we're going to pay right here And September Wages We're going to put in the good old wages how much we're paying the employees We don't want to have an uprising From the staff because we don't have any money to Pay him or something so 39833 So I'm going to say 69833 now this Hold on a second 6983 That's too much 6983 We changed it in the middle Union contract getting out of control there for a second We need to change it in July so I'm going to first copy it across So I'm going to say copy that across and then in July I'm going to make the change I'm going to say in July we'll just dollar amount the change 7682 right there 7682 and then I'm going to copy it across from here Copy it across from there boom and then that comes out to 87990 and over here we've got 87990 moving B to the NBN Same thing with the payroll taxes The government wants their stuff as well I'm more scared of them than the employees even Payroll tax expense let's say this is going to be 486 same thing It changes like in the middle so I'm going to say 486 Copy that across and then In July they increased it in July they increased it So July 535 I'm more scared of the staff than Disney is scared of their staff for crying out loud and that's saying something They're good staffs dang employees have gotten out of control and okay we're going to say this comes over here at the 66126 Alright and then next we've got the utilities 634 and so utilities we'll say 634 and we just copy that across same amount all the way across poor favor please and then the telephone 385 385 385 I'll just copy that across Just do it all the way across we're almost there we only get to do two more and then we have to stop So enjoy the last two because this is all you get Internet 90 Internet 90 I don't want the 90s internet slow apply it across and then we're going to say supplies expense is going to be 350 we're almost there very close to completion of the project 350 I don't want it to end because it's the good times depreciation 1236 depreciation 1236 copy it across 1236 and one more last one make it last people get full enjoyment from this one this is it miscellaneous 75 75 oh yeah okay so then we can check our totals down below these are the total expenses in the net profit so we can kind of tie out our net profits here notice something looks like it's off in February so I think something is a little off here I'm not going to go through the checking because we're going to continue to do that next time I'll actually generate the reports let's go ahead and save it and then we'll see how we can go back in here and make adjustments if there's any errors but we could check the numbers down here but if we were to save the reports and generate the actual reports and there was an error there we can always go back into it which again we will check out in the following presentation