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This page allows you to modify the details of the budget. Tell me more.
Select the “Budget” link at the bottom of the “Select Budget” page.
The “Edit Budget” page appears.
The system displays the following:
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Budget No |
A unique number identifying the budget. |
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Status |
The status of the budget. It must be “Fresh”. |
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Modify the following field if required:
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Budget Date |
The date on which the budget is allocated (Date Format). Mandatory. This date must be a valid one for the selected financial year. |
The system displays the following:
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Financial Year |
The financial year for which the budget is being created. |
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Total Base Requirement Amount |
The total budget requirement amount in the base currency of the company. |
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Total Base Allocated Amount |
The total amount allocated as budget in the base currency of the company. |
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Total Base Variance Amount |
The total amount till which the actual amount can vary from the budget. |
The system displays the following in the “Budget Information” multiline:
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Finance Book |
The code identifying the finance book for which the budget is being allocated. |
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Asset Class Code |
The code identifying the asset class for which the budget is being allocated. |
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Asset Class Description |
The textual description of the asset class. |
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Amount Required |
The amount that has been defined as the budget requirement for the asset class. |
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Currency |
The currency in which the budget requirement amount has been entered. |
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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. If both the currencies are the same, “1” is displayed by default. |
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Base Amount |
The budget requirement amount in the base currency of the company. |
Modify the following fields if required in the “Budget Information” multiline:
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Allocated Amount |
The amount that has been allocated as budget for the asset class (Decimal). Mandatory. |
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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”. |
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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.
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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 in the “Budget Information” multiline:
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Base Allocated Amount |
The amount allocated as budget in the base currency of the company. This amount is calculated as the product of the allocated amount and the exchange rate if the currency of the allocated amount is different from the base currency of the company. |
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Base Variance Amount |
The amount that could be the budget variance in the base currency of the company. This amount is calculated as the product of the amount allocated as budget, the percentage of variance specified and the exchange rate of the currency. |
Modify the following field if required in the “Budget Information” multiline:
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Remarks |
Any comments on the reason for the budget allocated with reference to the required amount (Alphanumeric, 255). |
Click the “Re-compute 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 “Edit Budget” pushbutton to save the modifications made.
The system saves the modifications made. 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.
Click the “Edit and Authorize” pushbutton to save the modifications and authorize the budget.
The system updates the status of the budget as “Active”.
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.
Click the “Delete Budget” pushbutton to delete the budget.
The system updates the status of the budget as “Deleted”.
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:
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Created By |
The login ID of the user who has allocated the budget. |
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Created Date |
The date on which the budget was allocated. |
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Last Modified By |
The login ID of the user who has last modified the budget. |
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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.
Modifying budget details – An overview
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You can modify the budget if it is in the “Fresh” status. You can modify the date on which the budget was raised. You can also modify other budget information like the amount allocated, set whether you want to allow variance, the percentage and amount of variance. You can re-calculate the allocated amount in the base currency of the company. The system saves the modified details along with the login ID of the user who modified it and the system date.
This page allows you to authorize the budget while saving the modifications made. The status of the budget is updated as “Active”. The details of this budget can no longer be modified. This page also allows you to delete the budget if it is no longer required. The status of the budget is updated as “Deleted”. This deleted budget cannot be used any longer. The system stores the login ID of the user and the system date along with the modified details.
Calculate the allocated amount
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”.
