¶ Purpose
The Budget is a financial plan for a specific period, usually a year. It includes planned sales, revenues, resource quantities, costs, expenses, assets, liabilities, and cash flows.
¶ Prerequisites
The following transactions must be completed before the Budget transaction.
- The PLBS Format transaction must be completed.
- The Profit Centre master needs to be defined.
- The Location master needs to be defined.
- The user access rights transaction must be completed.
¶ Add Budget Type
The Budget Type link allows the user to add the new budget type.
Navigation: Main – Menu ➔ Transactions ➔ Finance ➔ Finance Entries ➔ Finance ➔ Financial Year Selection ➔ Show List ➔ Planning & Budgeting ➔ Budget ➔ Budget Type
- Click the Budget Type link to add the budget type and the following screen will appear.
- The user can search for added or existing budget type based on the Financial Year.
- The Budget Type screen displays Financial Year, Effective Date and Option.
- The user must click on Budget Type in the left panel of the screen, to add new budget type.
- The user must enter the Type Code and Type Name.
- The user must select a Financial Year and Value in from the dropdown list.
- The user can edit the Effective Date, if required.
- The user must select one Option from the Yearly, Quarterly or Monthly.
- Click Save, the added budget type will appear in the left panel of the screen as shown below.
¶ Add Budget Details
The Budget screen allows the user to add the budget details for the particular year based on the budget type.
Navigation: Main – Menu ➔ Transactions ➔ Finance ➔ Finance Entries ➔ Finance ➔ Financial Year Selection ➔ Show List ➔ Planning & Budgeting ➔ Budget
- The user must select the Type, Profit Centre, Location and PLBS Format from the dropdown list.
- Once the user selects the appropriate details, the Financial Year, Option, Value In and Effective Date will appear automatically as shown below.
- Click Get Data, the following details will appear.
- The Budget screen displays details in the columns such as the Main, Tolerance (+/-), Quarter and Month.
- The user can enter the Tolerance for the respective field.
- The user must enter an amount in Year for the required Sub Categories as shown below.
- When the user enters an amount, the Quarter-wise and Month-wise amounts will appear automatically.
- The user can edit the Quarter-wise and Month-wise amounts if needed.
The total of all quarters and the total of all months must not exceed the annual budget amount.
- Click Save, the Total of all Sub categories will appear in the corresponding Main Category as shown below.
- Click Confirm, the following message will appear.
- Click Yes, to confirm the budget.
¶ Expand All
The Expand All option allows the user to view all sections, rows or details at once. It allows the user to view complete information without opening each item individually.
- The user must select the Type, Profit Centre, Location and PLBS Format from the dropdown list.
- Click Get Data, the budget details will appear.
- Click Expand All, the details will appear as shown below.
¶ Collapse All
The Collapse All option hides all sections, rows, or details and displays only the main headings or summary view.
- The user must select the Type, Profit Centre, Location and PLBS Format from the dropdown list.
- Click Get Data, the budget details will appear.
- Click Collapse All, the details will appear as shown below.
¶ Delete Budget Type
The Delete option allows the user to delete the added or existing budget type if required.
- The user can search for existing budget type based on the Financial Year.
- The user must select the Budget Type from the left panel of the screen.
- Click Delete, the selected budget type will disappear from the left panel of the screen.
¶ View or Print Budget Details
The Preview option allows the user to view and print the added or existing budget details.
- The user must select the Type, Profit Centre, Location and PLBS Format from the dropdown list.
- Click Preview, the following screen will appear.
- The ITSPL Report Viewer screen allows the user to print all selected documents one after another.
- Click Print, to print documents.
- Click Preview, to view details before printing.
- The user can view details in Excel, HTML, XML, Open Office, PDF and Notepad format if required.
- Click Email, the following screen will appear.
- The user must enter the Subject.
- The user can upload multiple attachments if required.
- The user can delete the uploaded attachments if required.
- The user must select one of the options from Employees, Customers, Sales Rep, Suppliers, Subcontractors or Others.
- Once the user selects the appropriate option, the corresponding Email IDs will appear in the Email Address section.
- The Add Your Message Here section allows the user to add messages.
- Click Send, to send emails.
- Click Add, to add the new email address.
- Click Delete, to remove the selected mail ids.
- Click Settings, the following screen will appear.
- The user must enter details of the Your Existing Mail Server Name, Port (Existing), Change the above Mail Server Name To and Port (New).
- Click Change.
¶ Functional Use Cases
| SL No. | Use Case | Business Scenario | Functional Outcome in ERP |
|---|---|---|---|
| 1 | Create Budget Type | The user needs to define a budget structure for a specific financial year and planning frequency. | The system creates a new budget type and displays it in the left panel for selection. |
| 2 | Edit Budget Type | The user needs to update the effective date or planning option for an existing budget type. | The system updates the selected budget type details and saves the changes. |
| 3 | Delete Budget Type | The user needs to remove an unused or incorrect budget type. | The system deletes the selected budget type and removes it from the list. |
| 4 | Add Budget Details | The finance team needs to enter budget values for a selected year, location, and profit centre. | The system saves the entered budget values and displays them in the budget grid. |
| 5 | Auto Allocation of Monthly Budget | The user enters a yearly amount and wants automatic monthly distribution. | The system automatically distributes the yearly amount into month-wise values. |
| 6 | Update Budget Tolerance | The user defines tolerance limits for budget variance control. | The system updates and applies tolerance values for the selected budget rows. |
| 7 | Confirm Budget | The user wants to finalize the entered budget once verification is completed. | The system confirms the budget and locks it for further editing. |
| 8 | Expand All Budget View | The user wants to view all budget hierarchy details at once. | The system expands all rows and displays full budget structure. |
| 9 | Collapse All Budget View | The user wants to view only summary budget information. | The system collapses all rows and displays only main headings. |
| 10 | Search Budget Type | The user wants to find budget types for a specific financial year. | The system displays all budget types for the selected financial year. |
¶ Use Case Scenario
- Click here for a detailed use case scenario.
¶ Transaction Checklist
| Steps | Checklist Item | Details / Purpose |
|---|---|---|
| 1 | Confirm PLBS Format Setup | The user verifies that the PLBS format is defined and approved for the required financial structure. |
| 2 | Verify Profit Centre Master | The user confirms that the profit centre master is created and active in the system. |
| 3 | Verify Location Master | The user confirms that the location master is created and active for budget allocation. |
| 4 | Check Financial Year Availability | The user verifies that the required financial year is configured and open. |
| 5 | Confirm User Access Rights | The user ensures that proper access is assigned for Budget and Budget Type transactions. |
| 6 | Validate Budget Type Requirement | The user confirms whether a new budget type is required or an existing one will be used. |
| 7 | Confirm Budget Planning Option | The user decides whether the planning cycle is yearly, quarterly, or monthly. |
| 8 | Confirm Value In Selection | The user confirms whether the budget values are entered in currency, quantity, or another unit. |
| 9 | Verify Profit Centre and Location Mapping | The user ensures correct mapping between profit centre and location for accurate budgeting. |
| 10 | Check Budget Period Validity | The user validates the effective date and period for the budget cycle. |
| 11 | Verify Required Budget Data | The user ensures that all required planning values and assumptions are available before entry. |
| 12 | Check Mail Server Configuration (Optional) | The user verifies that mail server details are configured for budget sharing. |
| 13 | Confirm Tolerance Policy | The user confirms the tolerance policy for budget variance before entering values. |
| 14 | Verify Data Backup Status | The user confirms data backup is available to recover in case of system issues. |
| 15 | Ensure No Duplicate Budget Exists | The user checks that no budget already exists for the same type, year, and configuration. |