Horizon360™ User Guide
Budget & Expenses
The budgeting and expense function captures your business from QuickBooks and helps you understand how you are tracking to your budget. Don't have a budget? Horizon 360 will help you create one. You can make this as simple or as detailed as you want during set up.
Note: To get started with budgeting, you will first need to connect Horizon360 to your Quickbooks Online account and then match your expenses from Quickbooks to an expense category for Horizon 360 to track.
Synced Expenses will appear here.
1.
If expense/s do not appear, check the Last Synced date
a.
If sync date is not accurate, click the green arrows to Refresh Sync.
To match/update expenses
3.
Select a category for the expense/s
After clicking save, Expenses will appear in your Overall Expense breakdown (5) and in your Budgeted and Actual Expense tab (6).
Note: Sync and Repeat this process frequently to keep your budget updated with Quickbooks and to maintain accurate data within your budget.
Overall Expense
This tile provides you with a summary of all the expenses you have synced or pulled in from QuickBooks, and graphically breaks them out as a percentage of your total expenses on the overview screen.(1)
Inside the Overall Expense tab you can view:
1.
Active/ Unmatched Expenses
Inside the Mapped view you can view Mapped Expenses and Unmap Expenses. To Unmap expenses:
6.
Click the drop down menu
Budgeted and Actual Expense
This tile shows your budgeted and actual expenses. Also shows the % of your expenses broken down into overhead, direct, or other expense based on how you classified them in the budget section. This is where you can set monthly budgets for each expense you have
Inside the Budgeted and Actual Expense tab you can view,edit, and create your budget. To create your budget:Select the pencil icon (1) in the desired Expense Category (2) and desired month (3). Input your budgeted amount for the month and select the Expense type (4), Overhead, Direct or Other then click save (5). Repeat this process for each expense in your months of operation.
Once your budget is set, the Budget and Actual Expense will show your Overhead Expense (6), your Direct Expense (7) and Other Expenses (8) on a yearly scale, showing the Current year Actual, budgeted, Budgeted YTD, and the Prior year. It also shows the Current Year Actual (9), Current Year Budgeted (10), and the Prior Year Actual (11) for each Expense Category (12). This screen will also show the Actual (13) and Budgeted (14) for each month.
Budgeted and Actual Hours
This tile shows Budgeted and Actual Hours. It will help you align the work that your company will do with the labor needed to perform the work. Horizon will use this information, along with your expenses to calculate your budgeted costs/hour and actual costs/hour.
Note: Actual Hours worked are determined by the tracking devices and do not need to be manually input.
You can input your budgeted hours for each month by selecting the pencil icon (1) and inputting the amount of hours. Do this for each month.
After inputing your hours, view the bottom of the screen. Here is a summarized report, where you can view total Budgeted Hours (2) and total Actual Hours (3) which are created by tracking devices.
The report also displays:
4.
Total Budgeted Overhead per hour
5.
Total Actual Overhead per Hour
6.
Total Budgeted direct per hour
7.
Total actual direct per hour
8.
Total actual other per hour
9.
Total actual other per hour
Each of these is based on the budgeted expenses created in Budgeted and Actual Expense and hours created by tracking devices.
It will also display a summary of expense per hour, which is the actual or planned expense based on the wages of the employees who have worked. This displays in Total Budgeted Expense per Hour (10) and Total Actual Expense per Hour (11).
