#You need a budget activation code update

The ways that budgets are created and recorded in the budget register help determine the time span that is selected when available budget funds are evaluated. However, the default values can be changed for individual groups or rules. The values in these fields will be used as default values in any new budget control rule or budget group that is created. You can also specify a default budget manager and the threshold that is used to notify users when the threshold has been reached. Define parametersД«ased on the financial dimensions that are enabled for the budget, you can use all the financial dimensions for budget control or a subset of them.ДЄlso, you can specify the default time interval (for example, Fiscal year, Fiscal year to date, Fiscal period, or Quarterly) that budget control will be run during the time span of the related budget. The next steps in the configuration are completed on tabs that are opened from the Budget control configuration page. Budget cycles often correspond to fiscal calendars but can span fiscal years. Configuring budget control Budget cycle time spanДЄfter basic budgeting is configured, you can define the time, or the starting and ending periods, for budgeting and budget control on the Budget cycle time span page.

A budget manager can also export the budget and actuals into Microsoft Excel to better analyze and forecast as required. Therefore, users can evaluate the budget throughout the budget cycle, and can make any adjustments that are required, in the form of budget revisions or transfers. Budget inquiries and reports are available. Therefore, you can evaluate the available budget for both planned purchases and actual purchases.

Override permission вЂ“ Who has permission to exceed the available budget?Д«udget control is fully integrated with the application.

Funds available calculation вЂ“ Should documents such as purchase requisitions (pre-encumbrances) and purchase orders (encumbrances) be considered in the calculation of available funds? Should documents that are in a draft state be considered in the calculation?.

Source documents вЂ“ What source documents must be evaluated for budget control? Should the documents be evaluated per line or per document?.

Time вЂ“ What time frame (fiscal period, fiscal period to date, and so on) will be used to evaluate available budget funds?.

Financial dimensions вЂ“ What financial dimensions must be used to report budget and actuals, and what financial dimensions are required to control budgets? Are there specific dimension combinations or main accounts that require particular attention? For example, is there a requirement to track budget to actuals by cost center and program? Do travel expenses require special attention?.

You can configure budget control according to several factors: The following chart shows the place of budget control in the stages of a typical budget cycle.

You can configure control of the overall expenditure to meet the organization's policies and requirements by grouping combinations of financial dimensions and main accounts. Alternatively, you can create or import budget register entries from a third-party program instead of using budget planning functionality.Д®xpenditures can be recorded by using main accounts and financial dimensions.

When controls are in place, an organization can plan, measure, manage, and forecast its financial resources throughout its fiscal year.ДЄfter budgets have been approved in the system, you can use budget plans to generate budget register entries to record the expenditure budget for an organization. This article introduces the budget control feature and provides information to help you configure budget control to optimize management of your organization's financial resources.Д«udget control supports the management of an organization's financial resources through the chart of accounts, workflows, user groups, source documents and journals, configurable calculation of available funds, budget cycles, and thresholds.

#You need a budget activation code update

For more information about preview releases, see Service update availability. The content and the functionality are subject to change. Some or all of the functionality noted in this article is available as part of a preview release.