Finalizing Budgets
You can define multiple cost budget plans and revenue budget plans for a project, and designate one cost budget plan and one revenue budget plan as active. After you distribute all summary budget amounts to costing activities, budget items, and periods, you can finalize the active plans.
Finalizing a budget plan sends the budget data to the Project Transaction Interface table and initiates the PC_WRAPPER Application Engine program which calls the Load Third-Party Transactions Application Engine process (PC_INTFEDIT). The Load Third-Party Transactions process triggers the Project Costing to Commitment Control Application Engine process (PC_TO_KK), which determines if the budget transactions must go through Commitment Control before they are posted to the Project Transaction table.
If Commitment Control is not required, the process sends the rows directly to the Project Transaction table. You can modify rows on the finalized budget plan and refinalize the plan, which updates the budget amounts on the Project Transaction table. You can also inactivate the previous finalized plan, and activate and finalize a different plan, which replaces the previous budget transactions with new finalized budget transactions on the Project Transaction table.
If Commitment Control is required, the Project Costing to Commitment Control process sends budget rows and cost transactions that require budget-checking to Commitment Control. With Commitment Control you cannot finalize another plan of the same budget type (cost or revenue) and analysis type. You can, however, add new rows on the Budget Detail page and refinalize the budget plan.
Finalizing a budget plan also triggers the Refresh Budget Summary Application Engine process (PC_BUD_SUM) to summarize budget data in the Summary Budget Data table.
After you finalize a budget you can run a Budgets to Costs Review by Period report (PCY1050.RPT) to perform budget versus cost analysis, or use the Budget vs. Actual interactive report to compare budgeted amounts with actual costs.