Budget

Definition

In the Compensation Management Budgeting component, a budget defines funds used for compensation.

Use

Use a budget to finance an organizational unit, and as a basis for compensation planning and administration.

Structure

A budget includes the following attributes:

 

Attributes

Definition

Plan version

Defines where the information is stored

Budget type group

Identifies the application component to which the budget type belongs

Budget type

Determines the type of budget

Abbreviation

Identifies the budget object

Name

Describes the budget object

Budget period

Defines the period for which the budget is planned

Object ID

Assigned either automatically or manually when the object is created

Status

Determines the stage of the budget process

 

Integration

When the budget object is created, you can enter amounts and quantities. You can create relationships between budget objects – this creates the hierarchical structure with superior and subordinate budgets – and between a budget object and a financed object.