Create and update budgets on the Budgets form. The budget combines a specific budget structure and term. Set a current amount and a person responsible.
To define budgets:
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Select Operations > Budgets > Budgets.
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Click New Record.
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Specify this information:
Budget Structure - Specify a budget structure. The system automatically populates budget structure description, Organization, Calendar Type, Date Created, and Status.
Budget Term - Specify the budget term.
The budget Calendar Type should be the same as the budget structure Calendar Type.
Date Created - Change the creation date if necessary. Date Created can be in the past or future.
Status - Choose one of the following options:
Options
Description
In Process
Select for budgets not yet approved.
Temporary value
Select for budgets not yet approved.
Final value
Select for budgets not yet approved.
Approved/frozen
Select to approve or freeze the budget. You must create the Budget Details before you can select this status. See Defining budget details.
If you select Approved/frozen, the system automatically populates Original Amount, Approved By, and Date Approved.
If the status changes from Approved/frozen to any other status, the above fields are not affected and updated the next time the Budget is approved.
Temporary value, Final value, and Approved/frozen are available in update mode only.
Current Amount - Specify the current budget amount.
Person Responsible - Specify the name of the person responsible for the budget.
Total Sub-Budget Amount - If budget details exist, this value is the total amount set up for its level one sub-budgets.
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Click Save Record.