What is the recommended method for adding budgeted figures for different store locations in Xero?

The recommended method for adding budgeted figures for different store locations in Xero is to add a new budget for each store location. This approach allows for a more granular and tailored budgeting process, enabling businesses to track financial performance accurately for each specific location.

When each store location has its own budget, it gives management the ability to monitor individual performance and compare it against expectations. This is particularly useful for businesses with varied operational costs, revenue streams, or market conditions across different locations. Having separate budgets allows for adjustments based on each store's unique circumstances, leading to more effective financial management and decision-making.

Using separate budgets also facilitates more precise reporting and analysis. When generating financial reports, management can easily view the performance of each store individually, which helps identify strengths and weaknesses that may require strategic interventions or support.

In contrast, a combined budget for all locations or a single budget with tracking categories may lack the specificity needed to address issues or opportunities at the individual store level. While it might simplify some processes, it can compromise the clarity and usefulness of financial insights needed for each location's management.