Here is a short tutorial on budget.
The best way to create a budget using Xero is to go to Account – Reports.
The next step is to find a Budget Manager. You can use the search button for instant results.
This is what the default look looks like:
However, you can change the period. For example, if you want to create a budget from October 2025, enter Start October 2025. Use 9 months of Actuals and Period of however many months you like.
At the bottom of the report, there is the Import and Export button. Export it as an Excel file or Google Sheets file. That way, you can enter and import the information into Xero. If you prefer, you can type your budget directly into Xero. One of the nice features of Xero is once you enter a number, a green button will appear. This can help you save so much time. Click on a green arrow.
A pop-up will appear where you can adjust the following months just by clicking on one of the offered options. If none apply, the estimated number must be typed for each. If you use a formula other than the ones in the Pop-up window, I recommend exporting the budget to Excel instead of using the budget manager.
The full budget can be previewed by pulling a report Budget Summary. If you create your budget in Excel, make sure you use the template (export) and then import the budget back into Xero. Once the budget is in, you can pull a Budget Variance report to monitor your differences.
As far as tips and tricks on how to go about creating a budget, check out our blog on budgeting here.
If you find yourself struggling with budgeting, feel free to reach out. Our team can help.