This article summarizes the benefits of budgeting and how to set one up in your account.
What is the budget for?
Your budget is your expected revenue per month. You set it at the beginning of the year, and then you can measure performance against the expectation.
Setting your budget in the RoomPriceGenie app has two main benefits:
- It allows you to compare your performance to the budget within RoomPriceGenie over the course of the year.
- It forms the basis of your Forecast. As new information comes in, the forecast adjusts to your new reservations and updates. But the starting point is your budget.
How do you set up your budget?
- Click on the Set Budget button on the Dashboard.
- You can choose to set it as net or gross tax and include or exclude extra services.
- You can set your budget for this year and the next year.
- Simply type in the total expected revenue for the month each month.