What are parent and child budgets, and how do I know if an account is a parent or a child?
Some budgets are used to fund expenses or revenues in multiple accounts; the term used to describe this type of relationship is parent-child. The purpose of the parent-child relationship is to minimize the number of budget transfers required. A parent account is where the budget is recorded, and its child accounts are where the expenses or revenues are recorded. If there is a ^ on an account description, it means the account is a parent account and its budget supports multiple accounts. Budgets are established and adjusted at the parent. Expenses charged and revenues received are recorded at one of the child accounts. The balance available at the parent level will be reduced by the amount of all expenses at the child level. For example, the budget of account 64001 General^ may be spent by charging expenses to about 24 other accounts. An expense charged to the Account 68150 Meetings and Meals will affect the budget of Account 64001 General^. For more information about budget accounts, r
