Maaz Rasheed Malik

Oracle Functional
Consultant

 WHAT IS BUDGET

An estimate of costs, revenues, and resources over a specified period,

reflecting a reading of future financial conditions and goals.

 Steps of Implementation.
1. Creation of organization.
2. Budget of budget.
 We will click on Budgets > Define > Organization.
 Enter Organization,Description,Display Sequence
 Click on Ranges Button.
 In this screen you can add ranges one line or multiple line.

 Here we can define ranges from high to low.

 We can set password click on SET PASSWORD.
 Creating Budget version
A project can have more than one budget. Budget types distinguish the
different budgets that you enter for a project. For example, one budget
type may identify the approved cost budget and another type may be the
forecast cost budget. You must classify every project budget you enter by
a budget type.
 Click Budget > Define > Budget
 BUDGET CYCLE

 Budget cycle
1. Open Year.
2. Enter/Modify Budget amount.
3. Post amount.
  We can open next year by clicking on OPEN NEXT YEAR.

o Note: Wait for the REQUEST to complete.

Budget Sources
 Entering Amount
1. Budgets amount Directly to system.
2. Enter them through budget journals.
  Amount Method
In amount method we will simply go to budget amount screen and enter
100$ or if want to enter 150$ we will just over write it.

 Journal Method
It work differently you have to enter increment or the difference between the
previous value and the new value e.g. the previous balance is 100$ and you
want this balance to change from 100 $ to 150 $ in order to do that you will
enter a debit of 50 $ and that will change the balance from 100 $ to 150 $.
Similarly if you want to reduce balance from 100$ to 50$ you will enter a
credit amount of 50$.
 This screen is used to enter budget amounts Budgets > Enter >
Amounts
 Budget amount Screen
 We can enter value directly or can enter in the SINGLE ROW
MODE.
 We can click on BUDGET RULES to define how amount divides.
3.Post Amount

 Click on Inquiry > Amount.

  Two types of balances
1) Primary Balance Type (actual by default).
2) Secondary Balance Type (budget by default).
 Click On SHOW VARIANCE BUTTON
 To compare actual numbers with budget numbers we will post a
journal entry for which we have to open a period.

 Setup > Open/Close

 After period is open we will go to Journal.

 Journal > Enter

 Click on Post button.

 We Will Go Back To Inquiry >Amount .

From this we can see the actual is 100 and Corporate is 100 but the Variance
is 0. Variance is comparing with actual with the budgets.