The Change Budget Process

Purpose

This process includes all you must do to perform budget planning. At the end of the process, release the budget so the data can be used by other components.

Process Flow

  1. You must create a budget hierarchy to define which budgets are subordinate and which are superior. The budget hierarchy determines which budgets finance the other budgets.
  2. Enter either amounts or quantities for each budget, or amounts or quantities for subordinate budgets, and roll up. If you roll up, that is, use the bottom-up process for your budget planning, the system determines the budget amounts or quantities required by superior budgets.
  3. You can change the amounts by an amount, a percentage, or both. For information on changing a budget amount, see Revalue Budget
  4. When you are happy with the figures and the budget planning, run a consistency check. The system checks that the amount for the superior budget is covers the amounts for subordinate budgets.
  5. If there are deficits, the system creates an error log. Use the error log to correct the errors.
  6. When you have corrected errors, and run another check, release your budget.

Change Budget Functions

Choose

If you want to

Create

Create a budget with relationships in hierarchy

Revalue

Enter the budget amount or quantity for the first time

Change the budget amount or quantity

Assign

Assign a budget or financed object

Delete

Delete a budget, a budget relationship, a financing relationship

Overwrite

Overwrite the budget amount

Roll up

Add budget amounts from the bottom up

Check

Check that the superior budget covers subordinate budgets

Release

Release the budget and change the status from planned to active

 

Result

The change budget process is now complete. You cannot make changes to these budgets because they have the status active. You can only display and copy these budgets.

If you have the necessary authorization, you can change the status of a budget to planned.

The Compensation Management Administration component can use the budget values.