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By: Peter Poletti

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Budgeting Functions & Features

Budgeting involves budgetary controls, budget accounting, budget development, and budget allocation. The software should provide sufficient tools to enable detailed budget development and analysis. Additional functionality should be available to integrate with project management software applications either natively or with external interfaces.. Budgeting Functions & Features are an important module of the comprehensive ERP RFP Template for Discrete Manufacturing.

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The Budgeting Functions & Features comprise the following elements:

  • Allocation of Budgets

    Functionality below includes Defines budget level financial allocations;Upper-level budgets are distributed among appropriate division-level or detail budgets, by accounting groups, organization units or departments, product lines, or projects.;Budgets are proportionally distributed to other accounts or groups;. Allocation of Budgets, Budgeting Functions & Features

  • Budget Accounting

    Modules include Establishes mandatory budgets for selected balance sheets, accounts, and profit and loss accounts;Income, expense, liability, assets, and equity accounts can be used in the budgeting process;Multiple budgets can be created from a single account to create what-if scenarios and for forecasting;Annual, quarterly, monthly, or customized budget periods;Creates financial statements in conjunction with budgets;Pro rata distribution of annual budgets over different periods, including quarterly, monthly, or other, customized periods;. Budget Accounting, Budgeting Functions & Features

  • Budget Control

    Main modules covered Budget control logic can be defined at any area of the account structure or for any number of levels;Budget control logic defined by document source or type, or by user;Budget tolerances and budget and field overrides can be defined by user;User-defined period intervals;. Budget Control, Budgeting Functions & Features

  • Budget Development

    Functionality includes Worksheet tools for developing budgets;Integrated budget tools;Generates budget using historical budget and actual budget;Generates a new budget by using data from historical budgets, and changes in historical actuals and percentages;Budget report summaries for executive or management review;Uses historical budgets and actuals to create reports predicting trends;. Budget Development, Budgeting Functions & Features

  • Budgets

    Functionality includes Multiple budgets for current and previous years;Many versions of the budget can be created for the current year;Stores multiple budgets of prior year;Online reports of budgets to actual;Compares budget versus actual dollar activity;Budget versus forecast comparison;. Budgets, Budgeting Functions & Features

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Functions and Features