2010 income and expense report...should I do anything with those expenditure numbers?

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Quicky
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2010 income and expense report...should I do anything with those expenditure numbers?

Postby Quicky » Sat Jan 22, 2011 11:06 am

Should I use a transfer function to zero-out the 2010 expenditures? (Transfer money from Budget:Allocation to bring to zero the year-end expenditures). Thanks, KQ

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aebrown
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Postby aebrown » Sat Jan 22, 2011 11:38 am

Quicky wrote:Should I use a transfer function to zero-out the 2010 expenditures? (Transfer money from Budget:Allocation to bring to zero the year-end expenditures). Thanks, KQ


That's up to you. If you are going to be focused on the Budget Report going forward (and once MLS 3.3.1 is released, it appears that this will be the preferred method), the balances in subcategories of Budget won't matter much. But still, it seems like carrying forward ever-increasing balances is a bit sloppy.

So I have created transfers like this. I would note three things:

  1. When you do this, date the transfers 31 Dec 2010. That will make your 2011 reports look much cleaner, but still allow you to go back and run reports through 30 Dec 2010 (assuming you didn't have income expenses on 31 Dec 2010) and see what happened in 2010.
  2. It's still possible to get adjustments sent down from CHQ that affect those 2010 numbers, so you might have to make some more adjustments in the future.
  3. Depending on whether a subcategory has a positive or negative balance at the end of 2010, the transfer may need to go from Budget Allocations to the subcategory (if negative), or from the subcategory to Budget Allocations (if positive), in order to get all the balances to zero.
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