Preparing and Monitoring Budgets
A budget links yearly targets to accounts, months, and responsibility centers.
Build the budget
Choose the year and type, then add lines per account and cost center with monthly distribution.
- Monthly amounts should sum to the annual amount.
- A budget may be estimated, revised, or approved.
Approval
Review and adjust draft lines, then approve the budget to stop changes.
- Only a draft can be edited or deleted.
- An approved budget is read-only.
Plan versus actual
Compare each line with posted movements and calculate annual and monthly variance.
- Draft or cancelled entries do not count as actuals.
- Results can be analyzed by account and cost center.
