Budget Management is a feature available for all Premium users within the Finance Management module.
Budget Management in AGRIVI offers various possibilities, depending on the needs and scope of crop production. It has three main sections in which farmers can set, plan and analyze their budget. These are as follows;
- budget list
- budget summary
- budget vs. actual analysis
How to create a budget within your AGRIVI account?
When creating a single budget, there should be entered the name of the budget and budgeted period. It is also needed to choose the crops as budgeting centers which will be included in a particular budget. Additionally, status of the particular budget also needs to be set.
Budget period is a period during which you plan the budget for the upcoming season for a particular crop production. This period can vary from only one day to several months, depending on how long is the budget period.
Budget centers are actually crop productions which have already been created in an AGRIVI account and for which you are tracking input usages as well as productivity and profitability.
Great thing is that one budget can have the unlimited number of cost centers i.e. crop productions. That way, if you want to create a budget for all the crops, you will be able to choose all of the crop productions from the drop-down menu.
When creating a budget, there is also an option to include a general center as one of the budgeted centers. What does it mean? If a general center is included in the budget plan, you are able to plan the total amount of all of the entries which won't be assigned to any crop production nor field.