Budgets and budget vs. actual

You can now plan the year in LedgerIt and see each month how the books compare with the plan. Budgets keeps your plans month by month, in versions and scenarios, and Budget vs. actual reads one beside your ledger.

Budgets

Budgets is on the left rail, under Reporting. Select New budget, name the fiscal year, pick a scenario (Base, Upside or Downside) and start from nothing, from another budget, or from last year's actuals. A budget's page is a grid of months with a row for each income or expense account, and a row for each department where you want to plan one on its own. Fill row spreads a total across the year or grows a first month by a percentage.

New version copies a plan into a draft, and Make current promotes it. The version it replaces is superseded and never changes again, so a figure you showed the board stays as you showed it.

Budget vs. actual shows each account's budget, its actual from the ledger, the variance and the variance as a percentage, through the month you pick. Every variance says Favorable or Unfavorable in words, and a month that has not happened yet counts on neither side.

Fixed assets, equity awards and notes at every close

Three more things now post themselves when you close a month:

• Fixed assets keeps a register of the equipment the company owns. Each close posts every asset's depreciation, and selling or disposing of one posts the gain or loss.
• Equity awards records the options and stock you grant. Each close expenses them as stock-based compensation, split by department.
• A convertible note or venture debt carries a rate, and each close accrues its interest. A payment splits principal and interest, and a note converts its principal and accrued interest into shares.

Webhooks

Settings, Developers can now send what happens in your books to an address you run, such as an entry posted or a month closed. Each set of books sends to up to 10 https addresses, every request is signed so you can check it came from LedgerIt, and a failed delivery is retried.

Several accounts, eight languages

Add account in the account menu signs in to another account without logging out of the first, and the menu switches between them with one click. LedgerIt is also available in Chinese, Hindi, Spanish, Arabic, French, Bengali and Portuguese, with Arabic laid out right to left.

Fixes and improvements

• Intercompany records what one set of books of your group owes another once, and posts it in both. Consolidation reads each set of books on its own, translates it, and eliminates what the companies owe each other.
• 1099s, under Reports, lists what each contractor was paid in a calendar year and who is over the threshold without a W-9. You can ask a vendor for their W-9 by email.
• Each set of books has a bills address: email a bill to it and it appears under Bills to enter.
• An issued invoice can get a Stripe payment link from your own Stripe account, and reminders go to the customer before and after the due date. Both are off until you turn them on.
• Notifications go where each member chooses, in the app and by email, one choice per kind of notice. Notices can also reach you as a Slack direct message.
• A month's close is a versioned run, and a close task can wait on others. A close also reviews each balance-sheet account against its support, and keeps its trial balance, balance sheet and income statement.
• A bank account or card can be remapped from a day, and a remap keeps locked months.
• A rule can name a department and learns it, and a rule's department reaches what it already filed.
• A counterparty can be a customer, a vendor, an investor and more, and its roles are set on its page.
• Activity shows a member's profile picture, says what a change did and links what it touched.
• Hide amounts now masks every figure, including foreign amounts and chart readouts.
• Amounts roll into place instead of flashing, and toasts come from the top on a phone, clear of the buttons.
• The transactions list pages past its first page again.
• A kept report still reproduces after an account is renamed.
• Guides now live at ledgerit.ai/docs, each drawing how its feature works.