IFS/Budget Management contains functions for entering budget versions, allocations
keys, recalculation rules, and budget values. The budget values can be used
for comparison with outcomes in analysis and reports.
IFS/Business Reporter
can be used to create and analyze information based on the budget period amounts
available in IFS Cloud. For more information refer About Information Sources
in IFS Business Reporter.
You are required to do the following before entering a new budget version:
Budget Version and Budget Values
Following methods can be used to enter budget version values.
First, a budget version should be entered in the
Budget Versions page
If the budget version you want to enter resembles an existing version, this
existing version can be copied either entirely or partially in order to create
an initial budget. The copied budget values can either replace existing budget
values or be added to existing budget values.
A user can export a budget
version and its values to a file in order to edit them in a PC-tool, e.g., Microsoft
Excel. Once the exported values have been edited, they can then be imported
back into the budget version.
The user can initiate the start values
from year or period balances in the general ledger or a combination of balances
and budget values.
There are two different ways of entering the budget
values manually. You can enter them in the
Budget Year Amount
page, then allocate the entered annual values to the period budget. You can
also enter the values directly in the
Budget Period Amount
page. These two methods can be combined. When entering budget values manually,
you can use the Fixed Code String command to facilitate the entry. This
can be used in both Budget
Year Amount and
Budget Period Amount
pages.
User can allocate the year budget values by entering information
about the allocation key in the
Budget Allocation Keys
page if appropriate. If no allocation key is entered, the annual values are
allocated evenly to the periods defined for the accounting year or to specific
periods that are defined in the Period From and Period To fields.
A recalculation of existing budget values can be done by using recalculation
rules. The rules are specified per code string with a percentage for increase/reduction.