Budget Process Flow
Creating the Budget
After forecasting is done, finance executives use Budget Builder to create a new Budget and enter global assumptions. Department managers can then enter Budget requirements based on those assumptions.
Updating Exchange Rates for the Budget
Exchange rates for the Budget automatically carry over from NetSuite. Finance executives can update the Budget's exchange rates as needed to see how changes affect the Budget changes in the foreign exchange market.
Adjusting the Budget
The budget owner uses the Budget as is, or they can make additional adjustments to values by using the Budget adjustment forms. After making adjustments, budget owners aggregate the application to update top-level members with the adjusted data.
Reviewing the Budget Income Statement
After all Budget forms are updated, finance executives use the Income Statement - Budget form to review income statement Accounts.