| # Budget Control New in Infor10 ERP Enterprise This topic describes the functionality of the Budget Control module. The Budget Control module is included in Infor10 ERP Enterprise. Budget Control is an integrated information system that tracks and controls budget-related business transactions. The module enables the financial managers to define precisely how and when budgets are controlled. The system facilitates real-time budget checking and thereby, prevents unauthorized deficits. The Budget Control module in the Financials package is designed to integrate accounting and budgeting functions into the underlying business processes. Accounting distributions are retrieved from the appropriate policy levels, such as requisition entities, vendors, or purchased commodities. Financial health is continuously monitored by capturing sources and uses of budgets as they are committed and realized. The Budget Control module automatically determines the relationship between accounting and budgeted funds through roll up structures. When an exception occurs, the associated conditional workflow ensures that the exception is dealt with appropriately. The Budget Control module supports the following budgeting activities: Budget policy management The module enables the budget managers to set up finance company-wide policy for budget control. The settings in the Budget Control Policy (tfbgc0110m000) session determine how budgets are controlled for the various document types. Budget structure You can define the budget roll-up structures and budgetary levels including budget amounts. Budget Manager Dashboard The budget manager dashboard is a complete monitoring tool to manage the budgets, budget transactions and budget exceptions for a manager. To-do List The list of exceptions for the document user and budget manager, which can be handled one by one sequentially. Budget authorizations The module supports authorizations for users or roles and budget accounts. Exception handling The module provides a powerful and flexible means for analyzing and resolving budget exceptions. Budget balances The budget balances are displayed for each amount, class, by period or budget account. The types of budget balances are allotments, commitments, encumbrances, receipt expenses, expenses and other available amounts. Import and Export budget data Budget manager can import the budget data which is maintained in an external file. The new data can imported and processed. You can export data to an external file. Reorganize/Rebuild budget The budgets can be reorganized or rebuilt. Budget Control enables budget managers to transform the existing budget structures into a new budget structure while retaining existing budget accounts and General Ledger account mapping. Budget Amendments Budget managers can make changes or amend the budget at any time of the fiscal year. Budget Transfers Budget Control enables the budget manager to enter the budgetary transfers from one budget account to the other. Budget Adjustments Budget managers can make direct adjustments to the budget control balances. Budget adjustments can be entered to correct a budget control balance if they are incorrect or the managers can reserve the budgets in anticipation of a future transaction. Reconciliation There can be differences between the budget transactions and general ledger transactions. The budget transactions can be reconciled with the general ledger transactions. Year end processing In the year end procedure, the budget amounts and the related budget transactions are moved to a new budget in the new fiscal year. The budget manager must define a new budget or copy old budget transactions and amounts to a new budget. The new budget accounts can be linked to the old budget accounts using budget account relations in the year end process. Reports The reports to compare budgets, policies, transactions and budget accounts balances can be generated. You can also print reports to generate the list of budget exceptions and reconciliation transactions. Inquiries You can make comparisons between budget balances, budget accounts and compare budget amounts across multiple years. You also compare between budget amounts and actuals in General Ledger. You can use Budget Accounts by GL Account (tfbgc1130m100) session to view the budget accounts that are used for a specific General Ledger account. |