setup of oracle financial budget in release 12

1. 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.

2.  We will click on Budgets > Define > Organization.

3.  Enter Organization,Description,Display Sequence

4.  Click on Ranges Button.

5.  In this screen you can add ranges one line or multiple line.
 Here we can define ranges from high to low.

7.  We can set password click on SET PASSWORD.

8.  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.

9.  Click Budget > Define > Budget

10.  BUDGET CYCLE
 Budget cycle
1. Open Year.
2. Enter/Modify Budget amount.
3. Postamount.

11.  We can open next year by clicking on OPEN NEXT YEAR.
o Note: Wait for the REQUEST to complete.
Budget Sources

12.  Entering Amount
1. Budgets amount Directly to system.
2. Enter them through budget journals.

13.  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$.

14.  This screen is used to enter budget amounts Budgets > Enter >
Amounts

15.  Budget amount Screen

16.  We can enter value directly or can enter in the SINGLE ROW
MODE.

17.  We can click on BUDGET RULES to define how amount divides.

18. 3.PostAmount
 Click on Inquiry > Amount.

19.  Two types of balances
1) Primary Balance Type (actual by default).
2) SecondaryBalance Type (budget by default).

20.  Click On SHOW VARIANCE BUTTON

21.  To compare actual numbers with budget numbers we will posta
journal entry for which we have to open a period.
 Setup > Open/Close

23.  After period is open we will go to Journal.
 Journal > Enter

24.  Click on Postbutton.
 We Will Go Back To Inquiry >Amount .

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