Create Budget Entry from Revenue Process
The Create Budget Entry from Revenue process automates the budget entry creation from revenue for expense control budgets.
This table lists the process parameters:
| Parameter | Description |
|---|---|
| Ledger | The ledger of the control budgets to add budget from revenue. |
| Accounting Period |
The accounting period used to derive the year to date revenue
balance.
Note: Ifrevenue estimate is designated
as a maximum funding limit or minimum revenue threshold, the
entire year’s revenue estimate is derived. |
| Budget Usage | Indicates if budget is updated in both Budgetary Control and General Ledger or only budgetary control. |
| Budget Entry Classification |
Indicates if budget is initial budget or a budget revision.
Note: Budget revision updates the control budget’s
budget adjustment balance. |
| Budget Scenario | The expense budget scenario to update when the Budget Usage selected is Budgetary Control and General Ledger. |
The Create Budget Entry process considers control budgets with these criteria:
- Allow funding for revenue is enabled for the control budget
- Revenue funding rules are enabled for the control budget
- Ledger of the control budget matches the ledger selected
- Period range of the control budget includes the last day of the accounting period selected
It’s recommended to schedule the Create Budget Entry from Revenue process on a periodic basis for all ledgers to ensure the budget balance includes up to date revenue amounts.
Budget Entry
A budget entry is created for a revenue funding rule when the following conditions
are met:
- the revenue balance is greater than the minimum revenue threshold.
- the revenue balance has changed since the last time the Create Budget Entry from Revenue process was run.
- the maximum funding limit hasn't been met.Note: Only GL balances for account combinations designated as revenue are considered by the process.
Budget Entry from Revenue Example
This table shows the budget entry created for a specified revenue balance when
revenue funding rules are defined with different minimum threshold and maximum
funding limit values. The examples assume the Create Budget Entry from Revenue
process is run for the first time.
| Budget Entries Created | |||||
|---|---|---|---|---|---|
| Minimum Threshold | Maximum Funding Limit | Revenue Balance 5,000 | Revenue Balance 27,000 | Revenue Balance 53,000 | Revenue Balance 68,000 |
| No minimum | Unlimited | 5,000 | 27,000 | 53,000 | 68,000 |
| No minimum | 50,000 | 5,000 | 27,000 | 50,000 | 50,000 |
| 12,000 | Unlimited | No budget entry | 15,000 | 41,000 | 56,000 |
| 12,000 | 50,000 | No budget entry | 15,000 | 41,000 | 50,000 |
Note: Only the revenue balance over the minimum threshold is added to the
expense budget.
The budget entry includes:
- The request submission process id in the Justification field. This id can be used to rerun the Expense Budget Entry from Revenue Report.
- The name of the revenue rule in the Comment field of the budget entry
line.Note: The budget period of the budget entry is derived from the last day of the accounting period selected in the process.
Budget Import Results Report
The Budget Import Results Report is run automatically when the Create Budget Entry from Revenue process is complete.
Use the Budget Import Results Report or the Review Budget Entries page from the Budgetary Control Dashboard to verify the budget entry and it’s details.