This module described several key components of setting up basic budgeting. You learned how to analyze a compilation of necessary information that your organization needs before you set up basic budgeting. That information includes financial dimensions, main accounts, currency exchange rates, budget codes, budget models, budget cycles, allocation methods, recurring amounts, and cash flow forecasts.
You also learned about:
- Two budgeting methods: zero-based budgeting and historical budgeting.
- Creating and managing budget register entries, including how to enter original budget amounts, create recurring amounts, and allocate amounts across dimensions or periods.
- Setting up a budget register workflow for the approval process and that the budget register entry workflow process follows the standard workflow framework.
- Configuration options for defining approvers, assigning workflow elements, and activating workflows.
- Using workspaces and inquiry pages to monitor budget performance.
- Reports for budgeting and how to use inquiries and reports for budget analysis.