Understanding Budget Periods

A budget period represents a time segment that the system uses to divide budgets. Budget period calendars define the periods to which budgets apply. A budget period detail calendar is similar to a fiscal year detail calendar. However, budget periods may be independent of fiscal periods and may start and stop at any point in a fiscal year or period. Set up as many budget period calendars as necessary. You can apply a budget period calendar to any number of budget definitions for which you want to use the same budget period parameters.

If you're using PeopleSoft Commitment Control, maintain detail calendars in that system in the Financials database. PeopleSoft HCM subscribes to the calendar data in Commitment Control and displays it using the Budget Periods page in PeopleSoft HCM. If you're not using PeopleSoft Commitment Control, you must set up a budget period directly in PeopleSoft HCM using the Budget Periods page.

Use the Budget Period page (BUDGET_PERIODS) to review the number of budget periods and the starting and end dates for each period.

For more information, see “Setting Up Basic Commitment Control Options" in the PeopleSoft Commitment Control product documentation.