The Budgeting Process

Purpose

You can use this process to create one or several budgets that can be used by the Compensation Management component for compensation planning and administration.

Prerequisites

Before you start the budgeting process, you must create budget objects. If you want to create links between budgets and financed objects, you must create an organizational structure.

Process Flow

When you have created your budgets and, if required, your organizational structure, you can begin budget planning:

  1. You create a budget. The budget has the status "planned"
  2. Define budget to budget relationships (optional)
  3. Define budget to financed object relationships (optional)
  4. Revalue budgets
  5. Roll up budget amounts (optional)
  6. Check budgets
  7. Clear error log
  8. When you are happy with the figures, you can release the budget.

The budget now has the status active and cannot be changed.

Budgeting Process Functions

Choose

If you want to

Create

Create budget objects

Change

Revalue budget amounts and quantities

Roll up budgets

Define budget to budget and budget to financed object relationships (existing or new)

Delete budgets

Check budgets

Release budgets

Copy

Copy an existing budget for a different budget type or period

Display

Display your budget hierarchy together with amounts and quantities and status

 

See also:

The Change Budget Process