Overview

Flowtly Editorial Team2 min

The Budgets module in Flowtly Business Management System (BMS) is designed to provide organizations with a flexible way to plan, monitor, and manage their financial resources effectively. It ensures better allocation of funds, improved transparency, and a higher level of financial control across various departments or projects. This module enables organizations to set financial targets, track expenditures against those targets in real-time, and generate comprehensive reports for informed decision-making.

Example use cases

  • Planning and tracking departmental spending throughout the fiscal year.
  • Allocating funds to specific projects and monitoring their financial progress.
  • Setting revenue targets and comparing actual income against projections.
  • Managing grants or funding for non-profit organizations.

Connection map

Refers toUses upPart ofDerived from
Documented hereDocumented elsewhere
invoice billed to counterparty. invoice taxed by tax-group. cost spends against budget. cost owed to counterparty. bank-transaction reconciled to invoice. contract schedules payment-schedule-line. contract attached to budget. budget covers project. invoice billed from project. project linked to budget. lead becomes counterparty. deal sold to counterparty.billed totaxed byspends againstowed toreconciled toschedulesattached tocoversbilled fromlinked tobecomessold toIInvoice — A sales document issued to a client: line items, dates, tax. It is created, reviewed, previewed and then sent.InvoiceCCounterparty — The other side of a financial document — a client billed, or a supplier owed.CounterpartyTTax group — The tax treatment applied to a line, so rates are set once rather than per document.Tax groupCCost — Money the organisation owes or has spent, tracked against a budget.CostBBudget — The financial envelope an engagement is measured against — what was planned, versus what has actually been spent.BudgetBBank transaction — A movement on a connected bank account. Matching it to an invoice or a cost is what makes the books agree with the bank.Bank transactionCContract — The financial terms of an engagement: a structured set of payment schedule lines, in one direction or the other.ContractPPayment schedule line — One dated amount on a contract, in a direction — money owed to a supplier, or due from a client.Payment schedule linePProject — The core organizational unit for a business initiative, client engagement or internal work. Everything tracked — time, cost, invoicing, profitability — hangs off one.ProjectPProspect — A company you are working but that is not a customer yet. It sits at New, Contacted or Qualified, and everything done to it is logged against it.ProspectDDeal — A sale in progress: a customer, an amount, and the stage it has reached. It cannot exist without a customer, and its stage is never blank.Deal

Related terms