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  • 1.  Tracking Deposits in Budget Tool

    Posted 06-05-2020 08:28
    Does anyone have a best practice for tracking deposits in the Budget tool?
    #Miscellaneous

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    Matt Garbacz
    Specialist, Meeting and Event Management
    Nationwide Mutual Insurance
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  • 2.  RE: Tracking Deposits in Budget Tool

    Posted 06-09-2020 15:50
    Hey Matt - are you putting them in to your payments tab for the line item cost? I don't have many expenses these days that require multiple deposits, but that's been a good way for me to see all the contributions toward one payment (with payment date, invoice numbers, etc.).

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    Stacy Wright
    Event Manager, Commercial Excellence
    Galderma Laboratories, L.P..
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  • 3.  RE: Tracking Deposits in Budget Tool

    Posted 06-10-2020 09:46
    Hi Stacy,

    Thanks for the suggestion! After looking into it a little further though, I'm struggling with having to designate it to one budget item (for example, the entire hotel deposit might only be attached to one budget item that is listed as "ROH Rooms") and not being able to see a formula with it to see how much was spent compared to actual expenses.

    I could always create subcategories that say "Deposit" and maybe adjust one of my columns to only house the deposits. At least then, I can easily identify where they are housed in each category and get the formula.

    If you have any additional thoughts, I would appreciate it. Thanks again!

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    Matt Garbacz
    Specialist, Meeting and Event Management
    Nationwide Mutual Insurance
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  • 4.  RE: Tracking Deposits in Budget Tool

    Posted 10-24-2023 09:16

    Hi Matt,

    There isn't an easy way to do this.  If you do your overall budget first - you could see what percentage of each hotel category (ROH, F&B, AV, etc) is represented in the total then enter the deposit (subcategory) in each category as a percentage of the overall budget.  For example: If your deposit is $10K and room rental is 15%, F&B is 50% and AV is 35% - then split the deposit as Room rental - $1,500; F&B 5K and AV as 3500.  When the detailed invoice comes in, you'd enter the actuals in and it would give you a better idea of spend against your estimate.



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    Heather Payne
    Director, Conference & Event Marketing
    RBC Dominion Securities, Inc.Canada
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