Life Only Budget (AC20.1)

Use Life Only Budget (AC20.1) to define and maintain a life only budget. The life only budget designates the total budgeted amount for the duration of the activity group, including the budget for all individual activities included in the activity group. You can define a budget for amounts and units and calculate values using a factor or rate. Activity group budgets are stored in base currency and optionally Report 1 and Report 2 currencies. Activity budges are stored in base currency, Report 1 and Report 2 currencies, and also in the budget currency. Budget amounts are stored in the activity group base currency. You can define the budget by either activity group, which includes all activities in the group; or by activity group, specific activity, and account category.

You can define as many budgets as necessary, but can only have one active budget.

You can define budget edits, make changes to this budget, or lock this budget to prevent it from being changed. List budget information defined using the AC20 budget forms using Budget Listing (AC220). Report on the variance between activity budgets and actuals or between two budgets using Budget Variance Report (AC420).

Use AC21 (Budget Change Orders) to change a budget and provide an audit trail of your changes.