In this guide, you'll learn how to use StatBun's Budgeting tool's matching feature to refine your current year's budget forecast based on accounting data. Matching allows you to compare the realized expenses and income from the beginning of the year to the budget, helping you create a more accurate forecast for the rest of the year.
Imagine your business has experienced unexpected expenses or revenue streams early in the year—by matching these data points to your budget, you can generate a more precise forecast for the remainder of the year. This, in turn, helps you make more confident, data-driven decisions. Matching empowers you to respond proactively and adapt to financial changes.
Let’s hop in and see how the matching feature works!
Matching
1. Go to the Plan tab and click on Budgeting.
2. Open the budget you have created. If you haven’t created a new budget yet, first follow this guide and then continue with the steps in this article.
3. When the budget opens, click on the settings icon in the top-right corner.
4. Adjust the comparison column settings by clicking the "Comparison columns" button to align the data with your needs.
5. Ensure the comparison columns are active by selecting the "Enabled" checkbox.
From the dropdown menu, choose "Accounting" as the comparison model.
By default, the budget pulls data from the previous fiscal year for comparison, which will be reflected in the comparison columns. As a result, the starting month offset is automatically set to -12 (months). Change the starting month offset to 0 (months) to base the comparison on the current fiscal year's data instead of past fiscal years.
Finally, click "Save" and confirm by selecting "OK" in the Settings menu.
6. Activate the input mode by clicking the "Input mode" button, and then press "Generate".
7. Select the period for which the matching should be performed.
Choose "Matching" as the generation method from the dropdown menu.
Select the accounts to be matched. You can also select all accounts at once by clicking "Select all."
Finally, press "Save".
8. The matching between actuals and the budget is now complete. Great job! Remember to perform matches regularly to stay up-to-date with your financial management and react to any discrepancies in time.
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