Creating budget details

This page allows you to create a comprehensive or a period budget for the selected entity. Tell me more

Select the “Create Budget Details” link at the bottom of the “Create Budget Header” page.

The “Create Budget Details” page appears.

Note: This page can also be invoked from the “Generate Budget and the “Distribute budget” page.

The system displays the following:

Budget No.	The number identifying the budget.
Version No.	The number identifying the version of the budget.
Status	The status of the budget. It must be “Fresh”.
Desc.	The description of the budget.
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Aggregate / Period	Indicates whether a comprehensive budget or a budget for a period has been defined. It could be “Aggregate” or “Period”.
	Aggregate – indicates that the budget is a comprehensive budget defined for a date range.
	Period – indicates that the budget has been defined for the MAC periods that are within the date range during which the budget is effective.
Definition Type	Indicates the entity for which the budget is to be defined. It could be “Cost Center, “Cost Center - Cost Element”, “Cost Center - Product” or “Cost Element – Product”.
	Cost Center – indicates that the budget is being defined for a detail cost center.
	Cost Center – Cost Element – indicates that the budgeted amounts and quantities can be specified at the cost element level for the individual cost centers. This type of budget is used in analysis, comparison and reporting purposes.
	Cost Center – Product – indicates that budget amounts and values for items and item variants can be specified for consumption or product output from a cost center for an accounting period. This type of budget is used to generate material variance reports for cost centers.
	Cost Element – Product – indicates that the output / product budget quantities can be specified for cost elements that have been incurred to produce manufactured items for an accounting period. Quantity and value budgets can be specified. This type of budget is used to generate standard item costs based on the budgeted output of items and their respective input costs.
Budget Type	Indicates the type of the budget. It could be “Quantity”, “Value” or “Both”.
Budget OU	The organization unit for which the budget is being defined.
Item Org. Unit	The organization unit in which the item for which the budget is being defined exists.

Modify the following fields if required in the “Budget Details” multiline:

Cost Center / Unit

The code identifying the cost center / unit (Alphanumeric, 10). The cost center entered in this field must be a valid cost center that has been defined in the “Cost Setup” business component and is in the “Active” status. At least one cost center must be entered in the “Budget Details” multiline if the “Definition Type” has been selected as “Cost Center”, “Cost Center – Cost Element” or “Cost Center – Product”.

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Note: This field must be left blank if “Definition Type” has been selected as “Cost Element – Product”.

Cost Element

The code identifying the cost element (Alphanumeric, 32). The cost element entered in this field must be a valid cost element that has been defined in the “Cost Setup” business component and is in the “Active” status. At least one cost element must be entered in the “Budget Details” multiline if the “Definition Type” has been selected as “Cost Center – Cost Element” or “Cost Element –Product”.

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Note: This field must be left blank if “Definition Type” has been selected as “Cost Center” or “Cost Center – Product”.

Item Code

The code identifying the item (Alphanumeric, 32). The item code entered in this field must be a valid item code that has been defined in the “Item Administration” business component and is in the “Active” status. At least one item must be entered in the “Budget Details” multiline if the “Definition Type” has been selected as “Cost Element –Product” or “Cost Center – Product”.

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Note: This field must be left blank if “Definition Type” has been selected as “Cost Center” or “Cost Center – Cost Element”.

Item Variant

The code identifying the item variant corresponding to the item code entered in the “Item Code” field (Alphanumeric, 36). At least one item must be entered in the “Budget Details” multiline if the “Definition Type” has been selected as “Cost Element –Product” or “Cost Center – Product”.

Note: This field must be left blank if “Definition Type” has been selected as “Cost Center” or “Cost Center – Cost Element”. This field must be left blank if the “Item Code” field is left blank.

The system displays the following in the “Budget Details” multiline:

Budget Span

The date range covered by the budget. The system displays the effective date and the expiry date of the budget.

Note: The date range will be displayed if an “Aggregate” budget is being defined.

Enter the following fields in the “Budget Details” multiline:

Accounting Period	Use the drop-down list box to select the accounting period for which you want to define the period budget. All the MAC periods that fall within the effective date range of the budget will be available for selection in the chronological order. The system displays the start date and the end date of the MAC period.
Qty.	The number of units (Integer).

Note: This field must be left blank if “Budget Type” has been selected as “Value”.

Amount

The budget amount (Decimal).

Note: This field must be left blank if “Budget Type” has been selected as “Quantity”.

Forecast Amount	The forecast amount of the budget.
Variable Rate / % for Flex Budgeting	The flat rate or the percentage of variability of the amounts specified for a cost element used in defining flexible budgets (Integer). The value entered in this field must be greater than zero. If “Variability for Flexible Budgets” has been set as “Percentage” in the “Set Parameters” activity, the value entered in this field must be less than 100.

Note: This field must be left blank if “Provide Flexible Budgeting” has been set to “No” in the “Set Parameters” activity. This field must be entered only if “Provide Flexible Budgeting” has been set to “Yes” in the “Set Parameters” activity, “Definition Type” is selected as “Cost Center – Cost Element” and the “Budget Type” is selected as “Both”.

Variable Proportion for CE – Product

The proportion of the variability of the input costs of cost elements specified in the budget defined for the “Cost Element – Product” (Decimal). The value entered in this field must be less than “1”.

Note: This field must be entered only if “Definition Type” has been selected as “Cost Element – Product”.

Check the box in the “Select” column of the multiline to mark a cost center / cost element for deletion.

Click the “Create” pushbutton to create the budget.

The system saves the details of the budget along with the budget number. If the budget details already exist, the system generates a new version number while saving the budget details. The system stores the budget details in the base currency and the parallel base currencies of all the companies that have been mapped to the business units and the organization units for which the budget has been created. The system also updates the status of the budget as “Fresh”.

Click the “Create and Authorize” pushbutton to create the budget and authorize it.

The system displays the following:

Created By	The login ID of the user who created the budget.
Created Date	The date on which the budget is created.

To proceed, carry out the following

Select the “Attach Notes” link at the bottom of the page to record your observations regarding the budget.
Select the “Collaborate” link at the bottom of the page to record or to view the observations or comments or discussions regarding the document.

Creating budget details – An overview

You can enter the quantity and amount details of the cost center, cost elements and item codes that have been retrieved based on the range specified in the budget header.

You can enter the quantity, the value or both the quantity and value for the entities based on the type of budget that is being created. If you want to create a “Period” budget you can also select the accounting period for which the budget is being created. If “Flexible Budgeting” has been opted for, you can also enter the rate or the percentage of variability of the amounts for each cost element. The system stores the budget details in the base currency and the parallel base currency (if applicable) of the companies that have been defined for the business unit in which the budget is being created. The system also stores the login ID of the user and the system date along with the budget details

This page also allows you to create budget details and authorize the budget immediately. The system updates the status of the budget as “Active”. The system also stores the login ID of the user and the system date along with the budget details.

Note: This page can also be invoked from the “Generate Budget” and the “Distribute budget” page. When this page is invoked from the “Generate Budget” or the “Distribute Budget” page, you can modify the details of the budget that has been generated or distributed and a new version number for the budget is generated.