Budgets Functionality

Modified on: Fri, 23 Aug, 2024 at 12:55 PM

Applies to:          Stayntouch PMS          

Budgets Functionality


Below please find an overview of the budgets functionality in Stayntouch PMS. Before we dive into the full functionality, here's a brief overview of what budgets support:

  • Enter budgets by market and by charge code
  • Import budgets from a CSV file
  • Budget reporting via the Comparison to Budget Report


TABLE OF CONTENTS

Budgets on Charge Codes and Market Codes for Calendar Year

 

We support the ability to add budget numbers by year/month for each market code and/or charge code that is marked as revenue. From Settings > Financials > Financial Settings, you’ll notice a BUDGETS toggle that can be turned ON/OFF as desired. 

 

 

When the BUDGETS toggle is turned ON, and the Financials Budgets permission is assigned from Settings > Hotel & Staff > Permissions, a menu item will appear in Financials called Budgets.



 

From Financials > Budgets, users have the ability to select the year they want to add budgets for charges codes and markets. Budgets for the current year +/- 2 years will be displayed. Whereas budgets for the current year +/- 2 years will be displayed, only future dates can be updated. So, for example, if the current year is 2021, you will see budgets for 2019, 2020, 2021, 2022, and 2023. You can then enter a budget by month and charge code/market.







Furthermore, you can add numbers per month and charge code/market or apply a budget to multiple months and charge codes/markets by selecting the green ADD BUDGET button. If applying a budget to multiple months and charge codes/markets, you can click SAVE REVENUE BUDGET once complete, or you can click SAVE AND ADD ANOTHER to add another budget.














 

Once the budgets are entered on a month by month basis, you’ll be able to view the budget per day by clicking on the month. You can modify the budget per month or per day, as long as the budget day is the current business day +1. Past day budgets and current day budgets cannot be modified.

 







Furthermore, if you select the SHOW NIGHTS checkbox at the top of the screen, you can set budgets for projected nights for each market/charge code.

 







Import Budgets Per Market Code and Charge Code Using CSV File

 

In addition to adding budgets manually per market code and charge code, you can also import budgets via CSV file per market code and charge code either per month or per day. To do so, navigate to Financials > Budgets, where you’ll see an IMPORT CSV button. Please note, to upload a budget by day, the user must select the month to expand the budgets module, and then select IMPORT CSV. Upon clicking the IMPORT CSV button, you will be able to import a CSV file. Budgets can only be imported for a date starting business date +1. Any records that have a date range prior to the business date +1 will not be imported.

 

 

In the screenshot below, you’ll find a sample template of a budgets CSV file that can be uploaded. Please note, you can upload 4 different types of budgets via 4 separate CSV files: one for charge code by month, one for charge code by day, one for market by month, and one for market by day. Furthermore, you can upload more than one row at a time, which would look something like below:


Market Code by Month:



Charge Code by Month:



Market Code by Day:



Charge Code by Day:



Please find a sample file template for each header type attached to the bottom of this article.


Additional Notes:

  • If working in Excel on a Mac, you must save the file as a Specialty Format, .csv—not the Common Format version.
  • Generally, you will run into trouble if you attempt to upload a file that is missing column or row headers OR has extraneous column or row headers OR has extra commas at the end of the rows on the CSV file.
  • Column A should always be labeled "Type", and the row labels should be "Revenue" and "Nights".
    • You should generally have 2 rows per Charge Code or Market Code that you are importing data for.
    • You can import more than 1 Charge Code or Market Code at a time, but you should not have extra rows that you do not have complete data for (e.g., if you were importing data for 4 Market Codes, you'd have 9 rows in your file—one for the column headers and 2 for each of the 4 Market Codes).
  • Column B should always be labeled "Hotel Code"; you can find the value to paste into all of the rows for this column in Settings > Hotel & Staff > Hotel Details > Hotel Code.
  • Column C will always be labeled either "Charge Code" or "Market Code" depending on what type of budget you are importing.
    • The values for Charge Code are the "code" and not the description or group. These can be found in Settings > Financials > Charge Codes > CODE column.
    • The values for Market Code can be found in Settings > Reservations > Markets.
  • Column D should always be labeled "Year" and list the 4 digit year (e.g., 2024, 2025, 2026)
  • Columns E through the end should have the by day or by month column headers listed below. If you are not importing the full year, you should only have column headers for the months or days you are importing.
  • By Day column headers should appear as d-mmm (e.g., "June 1st" would appear as "1-Jun").
  • By Month column headers should appear as the full month name (e.g., June, July, August, September)

Budgets Totals

 

We display totals by charge code, market code, month, year, and day from Financials > Budgets. Totals also display when the SHOW NIGHTS checkbox is selected.

 

Totals by Year by Market Code




Totals by Year by Charge Code



Totals by Month by Market Code




Totals by Month by Charge Code


Budgets: Scroll Bar

 

You’ll notice a scroll bar from within Financials > Budgets, so you can easily scroll through budget information. This applies to all screens where scrolling is required within the Budgets module.

 




Budgets Do Not Accept Negative Values

 

Users cannot add a negative budget value from Financials > Budgets.

 


Comparison to Budget Report

 

To complete our Budgets functionality, we’ve added a Comparison to Budget Report to show statistical and forecasted comparison to budget data by date range. 

 

Items to Note

  • This report only pulls budget data for markets, not charge codes.
  • You need to be using the Budgets functionality from Financials > Budgets. (Enable the BUDGETS toggle from Settings > Financials > Financial Settings and assign necessary user roles the Financials Budgets permission from Settings > Hotel & Staff > Permissions.)

 

Report Filters

  • DATE RANGE (TO/FROM): Select a date range.
  • MARKETS: Select from the markets configured for your hotel. By default, all are selected.

 



Report Output

 

The Comparison to Budget Report can be printed, and it will appear in the Reports Inbox as pictured below. 

 


 

You will see the following fields on the report:

  • Variance Toggle: The variance toggle is labeled % / ACTUAL and allows the user to view the variance in either percentage to budget or the actual amount to budget. Positive variances will always be green, and negative variances will always be red. By default, the variance toggle will be by percentage to budget (%).
  • View Toggle: The view toggle is labeled SUMMARY / DETAILS. The SUMMARY view shows the user the variance to budget for each category. The DETAILS view expands the report, and the user is able to view each category’s variance, actuals, and budgeted numbers.
  • Header: Total nights, total nights variance to budget, average occupancy, average occupancy variance to budget, total revenue, total revenue variance to budget, average ADR, average ADR variance to budget.
  • Report with variance toggle set to DETAILS:
    • First column titled Markets
      • Each market selected in the report configuration will be listed in the Markets column.
      • The next columns in the report are tilted NIGHTS, OCCUPANCY, REVENUE, and ADR. Each of these columns are subdivided into three columns: DIFF. (variance), ACTUAL, and BUDGET for each market.
      • Each row in the Markets column displays data related to NIGHTS, OCCUPANCY, REVENUE, and ADR for that corresponding market for the date range selected. Each of those columns is subdivided into three columns: DIFF. (variance), ACTUAL, and BUDGET for each market.
      • NIGHTS
        • ACTUAL: The number of rooms occupied for the given date(s).
        • BUDGET: The number of rooms budgeted for the date(s).
        • DIFF. (as a currency amount): Actual room nights minus budgeted room nights for the date(s).
        • DIFF. (as percentage): Actual room nights minus budgeted room nights divided by budgeted room nights multiplied by 100 (rounded to the nearest 10th of a percent) for the date(s).
      • OCCUPANCY
        • ACTUAL: The number of rooms occupied for the given date(s) divided by the total number of rooms for the date(s) (rounded to the nearest 10th of a percent).
        • BUDGET: The number of rooms budgeted for the given date(s) divided by the total number of rooms for the date(s) (rounded to the nearest 10th of a percent).
        • DIFF. (as a $): Actual occupancy minus budget occupancy for the date(s).
        • DIFF. (as a % ): Actual occupancy minus budget occupancy divided by budgeted occupancy multiplied by 100 (rounded to the nearest 10th of a percent) for the date(s).
      • REVENUE
        • ACTUAL: The room revenue for the given date(s).
        • BUDGET: The budgeted room revenue for the date(s).
        • DIFF. (as a $ ): Actual room revenue minus budgeted room revenue for the date(s).
        • DIFF. (as % ): Actual room revenue minus budgeted room revenue divided by budgeted room revenue multiplied by 100 (rounded to the nearest 10th of a percent) for the date(s).
      • ADR
        • ACTUAL: Room revenue divided by rooms occupied.
        • BUDGET: Budgeted room revenue divided by budgeted rooms occupied.
        • DIFF. (as a $ ): Actual ADR minus budgeted ADR for the date(s).
        • DIFF. (as % ): Actual ADR minus budgeted ADR divided by budgeted ADR multiplied by 100 (rounded to the nearest 10th of a percent) for the date(s).
  • If the report range is 14 days or less, the daily summary of the report will be shown. If the report range is 15 days or greater, the daily summary will not display.
  • The daily summary will have the same layout and calculations as the market segment, except instead of each row displaying calculations based on a market’s data, each row will display each day’s total figures from all markets selected from the report configuration (including undefined) for each day within the report’s date range.
  • When the view toggle is switched the SUMMARY, the sub-columns for NIGHTS, OCCUPANCY, REVENUE, and ADR will not show, and the data shown will only be the variances.

 




 

Reports Inbox

 

 

Print Report


Budgets: Filter Charge Code By Charge Code Type

 

From Financials > Budgets, you can now filter charge codes by charge code type from the CHARGE CODE TYPE dropdown filter. With this filter, all charge codes associated with a charge code type will be displayed. The budget totals will be updated accordingly to reflect the filtered amounts.

 

Items to Note:

  • Only charge code types in the budget will be displayed in the dropdown filter.
  • When switching from month to day or day to month, the filter will remain and totals will remain accurate
  • The filter only displays when the BUDGETING FOR dropdown is set to Charge Codes.





Budgets: Message Upon CSV Import If Header Names Not Present

 

Upon importing a CSV file from Financials > Budgets, you will receive a “Budget not uploaded” message (see screenshot below) if the header field names are empty.


Budgets Do Not Accept Negative Values

 

Users cannot add a negative budget value from Financials > Budgets.




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