Defining activity life only budgets

You can define activity budgets for three time frames: life only, annual, or period. A life only budget designates the total budgeted amount and units for the duration of the activity. Use this procedure to define a new life only budget for a specific activity and account category.

You can copy and modify existing activity budgets to save time. See Copying an activity budget

Before you begin, you must define an activity budget header before you can define the activity budget.

Follow these steps to define a life only budget:

  1. Access Life Only Budget (AC20.1).
  2. Define budget data. Use these guidelines to specify the field values:
    Activity Group

    You can leave this field blank when defining activity budgets. This field will automatically complete after you enter the activity in the next field.

    Activity

    Select the posting activity for which you want to define a budget.

    Account Category

    Select the account category for which you want to define a budget. You must assign the account category to the activity you selected in the Activity field.

    Budget Number

    Select the budget number you defined in the header for this budget. See Defining activity budget headers.

    Note: When defining budgets for multiple activities, be consistent with budget numbers. For example, if you are defining approved project budgets, and you have determined that budget 100 identifies the approved project budget, then use budget 100 for all activities.
    Action, Compute, and Parameter

    These fields are used only when you define a life only budget using a compute statement. See Defining computed budgets.

    Amount

    Specify the budget amount for the activity and account category. As an option, you can define a factor and units or a rate and units and the application will automatically calculate the amount.

    Note: Define activity budget amounts in the budget currency identified on the activity budget header.
    Factor

    Select a factor to calculate the budget amount using budget units and a standard rate. The system multiples the budget units times the rate defined in the factor. Factors are defined on Global Factors (FB00.1).

    Rate

    Specify a rate to calculate the budget amount based on budget units times the rate. If you use a rate, then define it in the budget currency identified on the activity budget header.

    Units

    Specify the budget units for the activity and account category. As an option, you can define a factor and units or a rate and units to automatically calculate the budget amount.

Related reports and inquiries

To Use
List budget information defined using the AC20.x budget forms Budget Listing (AC220)
Report on the variance between activity budgets and actuals or between two budgets Budget Variance Report (AC420)
Related topics