Creating a budget is the first step in managing school finances within the system. This process involves defining a financial plan for a specific period, such as a term or academic year.
To create a budget, navigate to the Accounting section and open the Budgeting area. From there, initiate the process of adding a new budget by entering the required details, including the budget name, period, and any relevant financial parameters.
During this stage, administrators can also define a contingency percentage. The system uses this value to automatically calculate additional funds reserved for unexpected expenses.
Once the budget is created and saved, it becomes the foundation for managing all related financial activities within that period.