Budget Configuration

Budget Configuration: Budget Configuration refers to the process of setting up, defining, and managing the financial limits or budgetary rules within a system or organization.

Create budget:

Upon clicking on Create Budget, the system will redirect you to the page shown below.

Requester ID: The system will automatically display the user ID of the requester.

Requester Name: The name of the user creating the budget will be shown here.

Creation Date: This field reflects the date on which the budget is created.

Currency: The default currency displayed will be INR.

All these fields are automatically fetched by the system.

Budget Type

There are two types of budgets available in the system:

Consolidated:

This type can be used for any item.

Item-wise:

This type is restricted to the specific item selected in the budget.

Budget Details

Once the Budget Type and Group are selected, the Sub-group field will be enabled.

Department, Plant, and Company Code are dropdown fields that the user must select.

Budget Amount: Enter the amount you want to allocate for the budget to be used further.

Validity Period

Start Date: The date from which the budget becomes active.

End Date: The date until which the budget can be used.

Attachments

Users can attach relevant files to the budget.

Accepted Formats:

.pdf, .xls, .txt, .jpeg, .png, .jpg, .doc, .docx. Maximum Attachment Size: 6 MB.

If the user selects the Budget Type as Item-wise, an additional field—Material Description—will become visible. The user can enter the item description here, after which a dropdown list will appear to select the specific material.

Please note that Item-wise budgets can be used only for a single item.

Once the budget is created, the user will have the option to either save it as a draft or submit it. 

If the user submits the budget, a workflow will be triggered and routed to the respective approvers assigned in that workflow.