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How to Create an Excel Budget in Reach Reporting

Learn how to import and manage budgets using Excel in Reach Reporting.

Creating an Excel Budget in Reach Reporting

Reach Reporting provides the flexibility to import budgets directly from Excel, allowing you to work within a familiar spreadsheet environment while maintaining seamless integration with your financial reporting tools.

Getting Started with Excel Budgets

Step 1: Access the Budget Section

To begin creating an Excel budget, select Budgets/Forecasts from the bottom left sidebar of your company workspace. This will open the budget interface, where you can view any existing budgets or create a new one.

Step 2: Create a New Budget

Click Create New to start building your budget. You'll be presented with two options:

  • Build your budget within Reach Reporting
  • Create your budget using Excel

For this guide, select the Excel option.

Configuring Your Budget Template

Step 3: Set Up Budget Parameters

Before downloading your Excel template, you'll need to configure several settings:

  1. Select Statements: Choose which financial statements you'd like to create a budget for (Profit & Loss, Balance Sheet, etc.)
  2. Choose Date Range: Define the time period for your budget
  3. Pre-fill Options: Decide whether to:
    • Pre-fill data from existing actuals
    • Apply a growth rate to historical data
    • Start from scratch with a blank template

Step 4: Download the Excel Template

After configuring your budget settings, download the Excel file. The template will automatically include the chart of accounts that matches your company's data at the time of export.

Working with Your Excel Budget

Step 5: Edit Your Budget in Excel

Open the downloaded Excel file and make your desired edits:

  • Add new columns or data as needed if budgeting by class
  • Input budget amounts for each account
  • Apply formulas or calculations specific to your needs

The Excel spreadsheet can contain several years of budget information, allowing you to create one Excel budget and update the same sheet as needed.

Important Note: If changes are made to your Chart of Accounts in your bookkeeping software after you've downloaded the template, you'll need to download a new template to ensure it reflects those changes.

Step 6: Save Your Completed Budget

Once you've finished making edits to your Excel budget, save the file to your computer.

Uploading Your Budget to Reach Reporting

Step 7: Upload Your Excel File

Return to Reach Reporting and navigate back to the budget creation screen. Upload your newly saved Excel file using the upload button located to the right of the template creator. Give your budget a name in the bottom right corner and then click the create button.

After uploading, your budget will be added to the list of created budgets in your company workspace.

Managing Your Excel Budgets

Once uploaded, you can manage your Excel budgets in several ways:

  • Download: Download your budget at any time for offline review or editing
  • Update: Upload a new file to update an existing budget with revised data
  • Set as Default: Designate a budget as your default budget in company settings for easy access in reports and dashboards

Using Excel Budgets in Reports and Metrics

Adding Budget Data to Metrics and Statements

You can easily incorporate data from your Excel budget into any report or metric:

  1. Open the metric or statement builder where you want to add budget data
  2. Add a new column or edit an existing column
  3. Select Budget/Forecast from the column type dropdown
  4. Choose your uploaded Excel budget from the budget selector
  5. Select the appropriate date range
  6. Save your changes

Your budget data will now be available for comparison with actuals, variance analysis, and other financial reporting needs.

Best Practices for Excel Budgets

  • Maintain Consistency: Keep your Chart of Accounts consistent between your bookkeeping software and budget templates
  • Regular Updates: Re-download templates if your Chart of Accounts changes to ensure accuracy
  • Version Control: Consider naming your Excel budget files with dates or version numbers for easy tracking

Backup: Keep copies of your budget files before making major changes

 

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