Handle Budget Process—Key Exercises

Basic Data Setup

Prerequisites: The purpose of this exercise is to set up the data required for the handle budget process exercises.

Budget Process—Basic Data and Requirements Exercises

Required Data


Create Budget Process

Purpose: The purpose of this exercise is to create a budget structure to be used in the handle budget process exercises.

Create Budget Process—Key Exercises

Main Exercises

Budget Template Entry

Purpose: The purpose of this lesson is to handle the budget entry part of a budget process.

Prerequisites: You need to be logged on as DAVID, i.e. Budget User Role = Responsible, to be able to work with budget entry.

Windows:
Budget Template

  1. Open the Budget Template window, and query for the Budget Template connected to code part value 1.
  2. Enter values for all periods in the Details tab/section for the existing Account /Items.
  3. Save your changes.
  4. Place the cursor in the header part of Budget Template, right-click and select  Show Column Totals to view Total Revenue, Total Costs, Income and Margin% in the Details tab.
  5. Select View Fixed Code Parts and code part value defined for the template should appear as a column in the Details tab.
  6. Create a new record in the Details tab/section of Budget Template and enter the following record:
Item/Category Account/Item
Finance An already used Revenue Account
  1. Enter 555 for 2006-06.
  2. Save your changes.
  3. A question “Do you want to create details for Account/Item..” should appear, press Yes
  4. Details Exists will automatically be selected.
  5. Highlight the row, right-click and select Display Budget Transactions.
  6. Enter a Row Comments to separate the 555 transaction from the previous.

Note: It is recommended to use the Row Comment to separate the transactions. This could be useful when there is a need to go beyond the accounting dimensions, i.e. for travel costs it might be good to plan major traveling separately, to support planning as well as analysis when comparing with actuals. The Budget Transaction window is also the place to enter amounts in other currencies. The amount/s in Budget Template will be in accounting currency. The currency code will indicate the transaction currency.

  1. Now we are finished with the Budget Entry and would try our luck with the Budget Approver. Place the cursor in the header part of Budget Template, right-click and select Complete.
  2. Status will be set to Awaiting Approval.

 

Reject Budget Template

Purpose: The purpose of this lesson is to handle the approval part of a budget process.

Prerequisites: You need to be logged on as ALAIN, i.e. Budget User Role = Approver, to be able to work with budget approval.

Windows:
Budget Template

  1. Open the Budget Template

    window, and query for the Budget Template connected to code part value 1.
  2. Lets assume that the budgeted values doesn’t make ALAIN happy, Place the cursor in the header part of Budget Template, right-click and select Reject.
  3. Budget Template Notes will be opened, lets enter a note to cut 5% more on costs and press OK to save.
  4. Status will be set to Rejected.

 

Re-entering Budget Template Details after Rejection

Prerequisites: You need to be logged on as DAVID, i.e. Budget User Role = Responsible, to be able to work with budget entry.

Windows:
Budget Template

  1. Open the Budget Template window, and query for the Budget Template connected to code part value 1.
  2. Increase the value for revenue accounts in the Details tab/section for all periods.
  3. Save your changes.
  4. Place the cursor in the header part of Budget Template, right-click and select Complete.
  5. Status will be set to Awaiting Approval.

 

Approve Budget Template

Prerequisites: You need to be logged on as ALAIN, i.e. Budget User Role = Approver, to be able to work with budget approval.

Windows:
Budget Template

  1. Open the Budget Template window, and query for the Budget Template connected to code part value 1.
  2. Place the cursor in the header part of Budget Template, right-click and select History Log. To view when and by whom the status has been updated.
  3. Let’s assume that the budgeted values make ALAIN happy, Right-click and select Approve.
  4. Status will be set to Approved.

Note: The Work flow and process is the same for Budget Nodes in the Budget Structure. The Complete, Reject and Approve operations are reached from right-clicking when a Budget Node is highlighted in Budget Structure. The only difference is that all budget entry takes place on the template level. But Budget Templates can be connected to any node at any level in the structure. To see aggregated values for a node it is possible to use the Budget Node Values window opened fro, the Navigator or from Budget Structure.

 

Update Budget Version

Note: The Load Budget Process operation is reached from right-clicking when the appropriate Budget Version is highlighted in Budget Versions.