Overview
With the Budget Planner you can:
Set your total budget for the fiscal year
Allocate funds across different months or categories
Adjust your budget anytime based on real-time data
Getting Started
Step 1: Accessing the Budget Planner
Navigate to Tightly and log in.
In the left-hand menu, click on Budget Planner.
Step 2: Set Your Fiscal Year
Locate the Set Fiscal Year section.
Choose the Start Month and End Month from the dropdown menus.
Example: January - December (for a standard calendar year).
Step 3: Select Your Budgeting Approach
You can choose between two budgeting approaches:
Revenue-Based: Plan your budget based on projected revenue.
Cost-Based: Allocate funds based on estimated expenses.
Under Select Budgeting Approach, choose either Revenue Based or Cost Based.
Step 4: Set Your Target Revenue
The Set Your Target Revenue section allows you to define your revenue goal for the year.
Review Last Year's Revenue (automatically pulled from historical data).
Choose between two options:
Set Custom Target Revenue: Manually enter a revenue target.
Increase Last Year's Revenue by X%: Automatically calculate a new target based on a percentage increase.
Click to confirm your choice.
Step 5: Finalize Your Budget
Once all selections are made, your budget plan is set up and ready for allocation across months or categories. You can revisit this section anytime to adjust as needed.
Reviewing Your Budget
Step 1: Select Your Period
You can choose between two period:
This Month: Review performance for this calendar month.
This Year: Review performance for this calendar year.
Budget Plan Details
The Budget Plan Details section provides an overview of your budget allocations, actual revenue, and spending. It helps you track performance against targets and make necessary adjustments.
Step 1: Understanding the Budget Plan Table
The table consists of multiple columns representing months and key financial metrics including:
Actual Revenue – The revenue generated for each month.
Target Revenue – Your predefined revenue goal for the month.
Allocated Budget – The planned budget allocation.
Continuity Budget – The upper spending limit for ongoing, predictable expenses.
OTB (Open-To-Buy) Budget – The upper spending limit for new inventory purchases.
Budget Spent – The actual amount spent within the month.
Step 2: Editing Your Budget Plan
Toggle Edit Mode (top right corner) to enable changes.
Click on a cell under Target Revenue, Allocated Budget, Continuity Budget, or OTB Budget to manually adjust values.
Changes are saved automatically.
Step 3: Filtering and Selecting Categories
Click Select Categories to view or filter budget details by specific product groups.
Use Select Rows to customize the displayed financial metrics.
Step 4: Reviewing Performance
Compare Actual Revenue against Target Revenue to assess whether you are on track.
Monitor Budget Spent against the Allocated Budget to ensure financial discipline.
Adjust future budgets based on performance insights.