Multiple Budgets and Budget Categories
Budget categories are available when the Multiple Budgets feature is enabled. Multiple Budgets are on the Enable Feature page at Setup > Company > Setup Tasks > Enable Features (Administrator). The feature is on the Accounting subtab under Advanced Features. An administrator must enable the feature.
After the Multiple Budgets feature is enabled, each budget you set up must be assigned a category. Budget category values allow differentiation between budgets for which other criteria, such as Item, Customer or Project, Class, Department, or Location, are identical.
On each budget record, the Budget Category list includes the following values:
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– New – – Select this option to create a new budget category.
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Legacy - Select this option as the budget category assigned to any budgets you created prior to enabling the Multiple Budgets feature.
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Any budget categories that have been created in your account.
For instructions to create budget categories, see Creating Budget Categories for Local Subsidiary Budgeting.
To view an income statement with a budget income statement for the same set of criteria, see Budget vs. Actual Report.
In NetSuite OneWorld, with the Multiple Budgets and Multiple Currencies features enabled, each budget category has a budget category type of global or local. This type determines the currency NetSuite uses for a subsidiary's budget and actual amounts. For more information, see Subsidiary Budgets in OneWorld.