How to use Budget Roll-Ups
One of the great things about MonkeyPod is the ability to have a near real-time connection between spending and budgets. From basic budgets to budget roll ups, being able to track your actuals against your budgeted amounts makes life a lot easier.
Want to learn how to make a budget before you learn a roll-up? Check out this article for an Overview of...budgets
What is a budget roll-up?
A budget roll-up shows you multiple budgets rolled up into one. For example: if you are a performing arts organization that runs multiple performances a year, you can create a budget for each performance, then roll up those individual budgets into one budget for all performances.
What is a budget scope?
First and foremost, you should be aware of some nuances with budget roll-ups. Because you are rolling things up, there is the potential for overlapping expenses. Because rollups always include budgets with the same scope, the biggest risk is with overlapping time frames. If one budget in the rollup starts before another one ends, you can easily end up with transactions in that overlapping period that would be counted twice in your rollup report.
How do I create a roll-up in my MonkeyPod?
To create a Budget Roll-Up click on Finance then Create Budget Roll-up.
From here you are prompted to give your roll-up a name, a scope, and to select the individual budgets that are part of this roll-up
and that's it! you've created your first roll-up! This will "roll-up" any budgets selected into one budget!
Frequently Asked Questions
- Do budget roll-ups include pledges?
- Yes!