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How to Submit and Approve Budgets in BillQuick

In our BillQuick for Accountants and Bookkeepers series, I have shown you how to set up a budget for a bookkeeping engagement. I showed you what this looks like assuming no approval process was required. Now that we’re in BillQuick 2015, I would like to show you what that process looks like and how you will find this in the workflow (new in BillQuick 2015).

In a larger accounting or bookkeeping firm, you may have one person preparing a budget, while another person needs to approve it. This speaks to a good system of internal controls or checks and balances. The more you can separate duties in any firm, including accounting and bookkeeping practices, the better your system of internal controls. This always has to be balanced with cost and efficiency.

In a perfect world, no one ever reviews their own work. If you made the mistake, it’s likely you won’t find it. How many times have you worked on something for an extended period of time and walked away feeling assured you reviewed it and all was well? Then you come back a day later and find a mistake that now looks like it should have been obvious and easy to find. A fresh and different pair of eyes makes all of the difference.

Once a budget is created in BillQuick, you can submit it, and as you will see in the video, there are options in terms of whom you submit it to. If they are a BillQuick user, then they will be notified via e-mail that the budget has been submitted for their review. That person now has to log in to BillQuick and approve it. With BillQuick 2015, you can also see the whole budget submittal and approval process in the workflow of BillQuick. Watch the video to see what this looks like.