Amending budget details

This page allows you to amend the details of a budget. You can amend a budget that has been authorized and is in the “Active” status. You amend details like the amount allocated as budget, the percentage and amount that have been set as variance. You can also remove the type of variance that has been set for the asset class. The system generates a unique number identifying every amendment made. The login ID of the user and the system date is stored along with the amended details.

Select the “Budget” link at the bottom of the “Select Budget” page.

The “Amend Budget” page appears.

The system displays the following:

Budget No	A unique number identifying the budget.
Amendment No	A unique number identifying the amendment that has been made to the budget.
Status	The status of the budget. It must be “Active”.
	Active – indicates that the budget has been authorized.
Budget Date	The date on which the budget has been allocated.
Financial Year	The financial year for which the budget has been created.
Total Base
Requirement Amount	The total budget requirement amount in the base currency of the company.
Total Allocated Amount	The total amount allocated as budget.
Total Base Utilized Amount	The total amount for which proposals have been created in ‘’active’’ status for the asset class till date.
Total Base Variance Amount	The total amount till which the actual amount can vary from the budget. This amount is in the base currency of the company.
Total Base Balance Amount	The balance budget amount that is yet to be used. This amount is also in the base currency of the company.

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

Finance Book

The code identifying the finance book for which the budget has been allocated.

Modify the following field in the “Budget Information” multiline if required:

Asset Class Code

Use the drop-down list box to select the code identifying the asset class for which the budget is being allocated. The “Asset Class” must have been defined in the “Create Asset Class” activity of the “Asset Type Definition” business component and must be in “Active” status. All the asset classes that have been defined for the company will be available for selection.

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

Asset Class Description	The textual description of the asset class.
Amount Required	The amount that has been defined as the budget requirement for the asset class.
Currency	The currency in which the budget requirement amount has been entered.
Exchange Rate	The exchange rate of the currency in which the budget requirement has been entered. This exchange rate will be defined if the currency is different from the base currency of the company. It both the currencies are the same, “1” is displayed by default.
Base Amount	The budget requirement amount in the base currency of the company.

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

Allocated Amount	The amount that has been allocated as budget for the asset class (Decimal). Mandatory.
Allow Variance	Use the drop-down list box to set whether you would allow a variance in the budget amount that has been allocated. You can select from “Yes”, “No” and “Unlimited”.
	Yes – indicates that a variance of the budget will be permitted till the percentage or the amount specified.
	No – indicates that there must be no variance in the amount allocated as the budget.
	Unlimited – indicates that there could be an unlimited variance in the amount budgeted and the expenditure incurred.
Variance %	The percentage the actual amount can vary from the budget (Integer). This field must not be left blank if there is no value entered in the “Variance Amount” field.

Note: This field must be left blank if “No” or “Unlimited” has been selected in the “Allow Variance” field.

Variance Amount

A flat amount till which the actual amount can vary from the budget (Decimal).

Note: This field must not be left blank if there is no value entered in the “Variance %” field.

The system displays the following:

Base Allocated Amount	The amount allocated as budget in the base currency of the company.
Base Variance Amount	The amount that could be the budget variance in the base currency of the company.
Amount Utilized	The total amount for which proposals have been created in ‘’active’’ status for the asset class till date.
Base Utilized Amount	The total amount for which proposals have been created in ‘’active’’ status for the asset class till date.
Balance Amount	The allocated budget amount that is not yet used.
Base Balance Amount	The allocated budget amount that is not yet used in the base currency of the company.

Modify the following in the “Budget Information” multiline if required:

Remarks

Any comments on the reason for the budget allocated with reference to the required amount (Alphanumeric, 255).

Click the “Recompute Allocated Amount” pushbutton to calculate the amount allocated as budget

The system calculates and displays the total budget requirement amount, amount allocated as budget and the variance amount in the base currency of the company.

Click the “Amend Budget” pushbutton to amend the budget details.

The modifications made to the budget are saved. The system generates an amendment number for the budget.

Click the “Print Budget ” pushbutton to print the budget.

The system updates the login ID of the user to the “Last Modified By” field and the system date to the “Last Modified Date” field.

The system displays the following:

Created By	The login ID of the user who has allocated the budget.
Created Date	The date on which the budget was allocated.
Last Modified By	The login ID of the user who has last modified the budget.
Last Modified Date	The date on which the budget was last modified.

To proceed, carry out the following:

Select the "Attach Notes" link at the bottom of the page for attaching notes.

What you can do in this page

Set Budget Variance

Calculate the allocated amount

Amend Budget

Set Budget Variance

You can set whether there can be a variance in the budget that has been allocated.

Set the “Allow Variance” field to “No” if you do not want to allow a variance in the budget.
Set the “Allow Variance” field to “Yes” if you want to allow a variance in the budget.
Enter a percentage in the “Variance %” field or an amount in the “Variance Amount” field.
Set the “Allow Variance” field to “Unlimited” if you want to allow an unlimited variance in the budget.

Calculate the allocated amount

You can calculate the sum total of the budget amounts that have been allocated. You can also calculate the sum total of the requirement amount and the variance amount.

Click the “Compute Allocated Amount” pushbutton to calculate the sum total of the allocated budget amount.

The system calculates and displays the “Base Allocated Amount”, “Base Variance Amount”, “Total Base Requirement Amount”, “Total Base Allocated Amount” and the “Total Base Variance Amount”.

Amend Budget

You can amend the details of the budget if required during the amendment process.

Make the required changes.
Click the “Amend Budget” pushbutton to save the modifications made and amend the budget.

A unique amendment number is generated for the amendment made to the budget.