There are two options to track budgeting information for an activity – track it manually or allow ACTIVE Net to perform the calculations for you. Regardless of which method you choose, you must access each activity record you want to track. For complete descriptions of the options on this page, click here.
Go to Administration > Registration Settings > Activities.
Search for and select the activity that you want to view the budget for.
Under the Financial Information section, click Change Budgeting Information.
To manually track the budget, select the Override automatically calculated budget amount? checkbox. This will allow you to enter the values in the fields manually.
If you prefer ACTIVE Net to automate the calculations, ensure the Override automatically calculated budget amount? checkbox is disabled.
Budgeted Income: Calculated by adding up all the activity fees that have the Primary Fee checkbox checked, multiplied by the Minimum Enrollment specified for the selected activity. You must attach at least one fee that has the Primary Fee checkbox checked, and one Minimum Enrollment in the activity details.
Budgeted Wages: Calculated by adding up the expected amount owed to the instructor using the normal calculations for instructor pay. If the instructor is being paid by the student, use the value in the Minimum Enrollment field. You must attach at least one instructor to the activity record using the Change Instructors function in order to complete the associated fields.
Budgeted Expenses: This is always entered manually and does not involve calculations.
Budgeted Net Revenue: This is always calculated by ACTIVE Net and is the result of Budgeted Income, minus Budgeted Wages and Budgeted Expenses.
After entering the requisite information, you can create the following reports:
Budgeted Profit/Loss report: Shows the entered budgeted amounts to compare against expected budgeted revenue.
Actual Profit/Loss report: Shows the actual profit/loss amounts.
Actual vs. Budgeted Profit/Loss report: Shows the budgeted amounts compared to the actual amounts.