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Each budget type is defined as either a cost budget type or a revenue budget type. For budgets using cost budget types, you can enter quantities, raw cost, and burdened costs. For budget using revenue budget types, you can enter quantities and revenue amounts.

You can use any budget type for project status tracking.

Oracle Projects predefines four budget types:

• Approved Cost Budget

• Approved Revenue Budget

• Forecast Cost Budget

• Forecast Revenue Budget

Defining Budget Types

   To define a budget type;

1. Navigate to the Budget Types window.

2. Enter a unique name and description for the budget type and whether the budget is a cost or revenue budget type. This affects what amounts you can enter for the budget.

3. Enter effective dates for the budget type. See: Effective Dates.

4. Select Cost Budget or Revenue Budget as the Amount Type.

5. If you want to enable Workflow for the budget type, check the Use Workflow for Budget Status Change check box. See: Integrating with Oracle Workflow.

6. Save your work.