Setup budget for the combination of Division and Budget Category during a period.

  • Procurement Budget created per “Division”, “Budget Category” and “Period”.   If overlap period for the same “Division” and “Budget Category” is not allowed.
  • The person authorized to create and set the Procurement Budget every month / every quarter (depends on company policy).


Follow below step to set Procurement Budget:

1, Click "Procurement Budget" in navigation bar. 

Note: if the link not included in navigation bar, click Search button then enter Items into search box then select the link

2, Click "+New" to create a new Procurement Budget

Note: Click Edit List to Edit existing Budget to add new budget

 

3, Procurement Budget - Must be created BEFORE creating PR. Otherwise, the budget is NOT counted into calculation.

    Enter the budget information

(1) ID - Not required to fill, system filled

(2) Division Code (Linked with Purchase Request Division Code, to count the budget, and decide if it's over-budgeted)

(3) Budget Category Code (The selected Items will be counted according to this code)

(4) Start Date - End Date (Linked with Request Date of Purchase Request, to decide if the PR falls into the budget period)

(5) Budget Enter the budget amount for the Division during the period from Start Date to End Date

     Following fields to be calculated by system

(6) Approval in Progress:

     The amount in local currency calculated from the PR with Request Date is within the budget period and in the following status.

  • Under Review
  • Reviewed
  • Recommended

     (i.e., before final approval and excluded New, Cancelled, Returned, and Rejected) Under Review 1 / Under Review 2 / Reviewed / Recommended

(7) Approved: 

      The amount in local currency calculated from the PR with Request Date is within the budget period and status is Approved and all the status after "Approved" (i.e. Approved, Quotation in Progress, Quotation Under Review, PO in Progress, PO Partially Created, PO Fully Created)

(8) Balance

     Balance = Budget - Approval In Progress - Approved 



Fields

Data Type & Length

Details

ID

Code 20

Auto generate by system

Division Code

Code 20

Select from Division List

Division Name

Text 50

[Read Only]

Display the Division Name according to the Division Code

Budget Category Code

Code 10

Select from Budget Category List

Budget Category

Text 50

Display the Budget Category Name according to the Budget Category Code

Start Date

Date

Fill in the Start Date of the Budget for the Division

End Date

Date

Fill in the End Date of the Budget for the Division

Budget

Decimal

Enter the budget amount for the Division during the period from Start Date to End Date

Approval In

Progress

Decimal

Calculated by system

The amount in local currency calculated from the PR with Request Date is within the budget period and in the following status.

1. Under Review

2. Reviewed

3. Recommended

(i.e., before final approval and excluded New, Cancelled, Returned, and Rejected)

Approved

Decimal

Calculated by system

The amount in local currency calculated from the PR with Request Date is within the budget period and in the following status.

1. Approved

2. All the status after "Approved" (i.e. Approved, Quotation in Progress, Quotation Under Review, PO in Progress, PO Partially Created, PO Fully Created)

Balance

Decimal

Calculated by system

"Balance = Budget - Approval In Progress - Approved "

Validation:

1)       Overlap period for the same “Division and Budget Category” is not allowed

When create the budget, system will check if the date range for the same “division and budget category” is overlapped.