I intend to budget this way:
- Salaries - 4%
- Working Capital - 10%
- Maintenance - 10%
- Other …
Now, there will be multiple accounts under these categories. For instance, we could have two accounts, Vehicle Maintenance and Plant Maintenance under the Maintenance category.
We do not have to break it up further for each account, but we want it to enforce the budget per category such that, if Plant Maintenance expenses exceed/reach the set budget, it will not matter if we have booked Vehicle maintenance expenses or not since we would have exhausted the budget for their category.
Our budget should change everytime we receive cash, so for example, if we get $10,000 (cash) we would split it up according to the “budget” percentages and update the amounts for the category.
This is however not possible currently in ERPNext because it requires budget amounts per Account, not group accounts.
I understand some of this will not be possible out of the box, so there will be need for customizations; which I am ready to make.
For those that have setup budgets before, how much of this can be setup in ERPNext out of the box, and if none or not all of it, can you please give me your thoughts on how best I can approach this?