Defining activity budget headers

You must define a header for each activity budget that you will create. All budget types require a header. It contains general information about the budget such as the activity, the budget number, date ranges for the budget, the status, and currency information. Use this procedure to define budget header information before defining an activity budget.

Note: Define the activity budgets by activity and account category, but do this on one budget header for the entire activity.

Follow these steps to define an activity budget header:

  1. Access Activity Budget Header (AC20.7).
  2. Define the activity budget. Use these guidelines to specify the field values:
    Activity

    Select the activity for which you are defining budget headers.

    Budget

    Specify a budget number and description. You can have only one active budget per activity, but you can define multiple budgets.

    Note: Be consistent with budget numbers across activities. For example, if budget 100 is the approved budget, then you must create a separate header for budget 100 for each activity.

    See About managing multiple budgets.

    Date Range

    Specify the beginning and ending dates for the activity budget. The dates must fall within the activity's date range. If you leave these fields blank, then the default setting is the activity's date range.

    Note: Budget periods and years are determined by the calendar assigned to the activity group associated with the activity.
    Amount Round Type

    Select how you want to round budget amounts:

    • 2 Decimals (2) (Default)

    • Whole (W)

    • Hundred (H)

    • Thousand (T)

    Unit Round Type

    Select how you want to round budget units:

    • 2 Decimals (2) (Default)

    • 1 Decimal (1)

    • Whole (W)

    • Hundred (H)

    • Thousand (T)

    Life Only

    Select Yes to identify the activity budget as life only. If you select Yes, then the annual and period budget data is not stored. The default setting is No.

    Active Budget

    Select Yes to make the activity budget active. Active budgets are used for budget edits and report defaults. When you set a budget to active, all other budgets for the activity are automatically made inactive. The default setting is No.

    Currency (Budget)

    You can define activity budgets in any currency, provided that you have established these relationships and exchange rates in the Currency application:

    • Base Currency to Budget Currency and vice versa

    • Budget Currency to Report One Currency and vice versa

    • Budget Currency to Report Two Currency and vice versa

    Currency (Report One) and Currency (Report Two)

    Select the report currencies. Report currencies are defined in the activity group associated with the activity.

    Calculate (Report One) and Calculate (Report Two)

    Select Yes to store the activity budgets in either Report One currency, Report Two currency, or both. The default setting is Yes if the report currency exists and No if the report currency does not exist.

    Exchange Rate (Report One) and Exchange Rate (Report Two)

    Specify the exchange rate to be used to convert the activity budget amount from budget currency to the report currencies. To use the exchange rate defined for the report currency in Exchange Rates (CU10.1) for the budget begin date, then leave this field blank.

    Note: Exchange rates are applied at the time activity budgets are created. You cannot modify the exchange rate once budgets are established. Fluctuations in exchange rates defined in the Currency application are not automatically reflected in the budget.
    Multiply or Divide (Report One and Report Two)

    Multiply (M) or Divide (D) displays to select whether the budget amount will be multiplied or divided by the exchange rate. You can define this value on Currency Relationship (CU02.1).

Follow-up tasks

After defining the activity budget header, you must define the activity budget. See: