Defining Human Resource Budgets
You define human resource budgets in the Budget window.
During the time period of the budget, it may be necessary to adjust the budget values as a result of organizational or financial change. You can create multiple versions of a single budget for comparison purposes.
To define a budget:
1. Enter the name of the budget, and select a measurement type and calendar. Save the budget.
2. Enter a version number and start date for this budget version. Save the new version.
3. Select the components for which you want to produce budget element information, and save your work.
You can enter any combination of organization, job, position, and grade. You must select a value for at least one of the fields.
4. In the Budget Values block, select a specific time period from your calendar. Enter a numeric budget value for your selected budget element for that period.
The system automatically gets the actual values and calculates the Variance as an absolute value and a percentage value.
5. Select other time periods for this budget element, as you require, and enter your budget values. Save your values.
6. Repeat steps 3 and 4 as necessary for other budget elements. Save your work.