Create Account Budget – A summary of the activity
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This activity allows you to set the budget amount for an account.
Budgets are defined for exercising control actions on the balances in the account currency without taking the opening balance into account. Account limits are defined for open financial year or period.
Financial Period – If the budget amount is set each open financial period in a given open financial year, the control action will be exercised only on the expenses account type on the balance of the account arising from transactions occurring within that period.
Financial Year – The budget amount is set for each open financial year.
You can also set the seasonal adaptation pattern for the financial period.
Getting familiar with the pages inside
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Create Account Budget |
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Seasonal Adaptation Pattern |
Creating seasonal adaptation pattern for the financial period |
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Attach Notes |
What you can do in this activity
Set the adaptation pattern for the financial period
Apply seasonal adaptation pattern for the financial year
The budget from one financial period can be carried forward to another financial period. The financial period must be closed while transferring the budget amount to the subsequent period. This is not applicable for the last financial period of the financial year.
Go to “Create Account Budget” page.
Specify the search criteria and enable the “Carry Forward Budget” option to transfer the budget amount from financial period to another with in that financial year.
Set the adaptation pattern for the financial period
The budget amount can be determined for the open financial period based on the seasonal condition. The budget amount can be distributed for the financial period based on the pattern set – ratio set for each of the financial periods.
Go to “Seasonal Adaptation Pattern” page.
For the financial year, set the ratios for all the open financial period.
Apply seasonal adaptation pattern for the financial year
The seasonal adaptation pattern set for the financial period can be applied to the financial year to which they belong.
Go to “Create Account Budget” page.
Apply the seasonal adaptation pattern for the financial year.