1. Administering Planning Modules
  2. Configuring Financials
  3. Setting Up Budget Revisions and Integration with Budgetary Control
  4. Enabling Budget Revisions

Enabling Budget Revisions

To enable Budget Revisions

  1. From the Home page, click Application, and then click Configure.
  2. From the Configure list, select Financials, and then click Enable Features.

  3. Select Budget Revisions to enable the ability to create budget revisions to an approved budget in EPM Planning Financials. Additionally, if you enabled Budgetary Control, additional options are available.

    Note:

    To enable Budget Revisions, you must also enable Expense.

    For details on other Financials features you can enable, see Enabling Financials Features.

    You must use your own chart of accounts in EPM Planning Financials rather than using the provided chart of accounts. To use your own chart of accounts, click only the checkbox next to the feature name (and don't click Accounts or Drivers and Related Accounts). For more information, see About the Financials Chart of Accounts.

    If you select only Budget Revisions, EPM Planning Financials provides metadata required to perform budget revisions. This option allows planners to create, populate, and share revisions.

  4. Select additional options to enable integration with Budgetary Control. You can view current consumption, check that proposed budget changes do not go below what has already been consumed, and update budget changes to impact funds available. After budget changes are reserved and approved, the budget revision details can be viewed in Budgetary Control by drilling down on the current approved budget balances.

    If you enabled Budgetary Control, select the additional options you need:

    • Import Balances from Budgetary Control—Enables integration of encumbrance accounting, allowing you to track encumbrance balance. Creates a scenario member called OEP_Consumed in the Scenario dimension and associated trends for revising budgets. You can use this option to import any encumbrance, obligation, or commitment balances from Budgetary Control into EPM Planning Financials.
    • Update Budget Changes in Budgetary Control—Enables Funds Reserve to Budgetary Control to update budget balances and funds available in Budgetary Control from within EPM Planning Financials.
    • Review Budgetary Control Impact Before Approving Budget Changes—Enables Funds Check to Budgetary Control from within EPM Planning Financials before a budget is approved.

  5. Additionally, specify these options, which don't require integration with Budgetary Control:

    • Number of active revisions—Specify the number of active budget revisions you can have, up to 30 active revisions. (This number is also limited by the total number of members in the Version dimension.) Note that when you reserve funds, the revision is cleared so EPM Planning Financials can reuse it. You can change this number later if you need to increase or decrease it.
    • Revision number prefix—Specify a prefix to add to the system-generated revision numbers. This revision number is the unique identifier of the revision in Budgetary Control.

When you enable Budget Revisions, you have the option in Map/Rename Dimensions to specify whether to associate custom dimensions with the feature and to make one of the dimensions the primary dimension for display, along with the Entity dimension, on forms. See Associating Custom Dimensions with Financials Features. Additionally, use Map/Rename Dimensions to rename dimensions as needed for integration with Budgetary Control.