SECTIONSBudgets
Budgets allow you to plan the budget of a separate structural unit in the Planning and Analysis application. A structural unit contains a set of unique characteristics that distinguish it from other units.
For example, the budget allows you to build their annual budgets, and budgets for projects. Each budget contains a set of income and or expense lines. Usually, an expense line matches an account, but also it can have its analytics.
Depending on the needs and requirements, you can decide how you want to break down the structure.
The budget consists of a budget header, a list of budget line items, and related headcount by resource lines information generated for each headcount budget. To create attributes for any budget app and budget line items, ensure that you first complete all setup and configuration. The variable pay target percentage, salary increment, and the salary increment percentage to the annual base salary of the headcount by resource lines are also configurable.
In the future, the administrator can use the budget header and budget lines for reporting. In addition to lookups, a line contains a large number of text and numeric fields for reference.
For your planning, you can customize the budget structure. The obligatory attributes or dimensions in the budgets are as follows:
- Budget Name
- Budget Template
- Budget Year
The rest of the attributes are customizable and entirely depend on the requirements.
Budgets are grouped into a tree structure with a consolidated budget and underlying budgets. You can nest budgets up to the maximum five-level nesting. The bulk amounts are stored in the lowest-level budgets.
Consolidated budgets act as a storehouse for lower-level budgets and are convenient for calculating totals. Consolidated budgets may not have any additional dimensions. They do not take part in the reporting system.
Using budgets, you can plan a budget for both twelve months.