Summary level
The system will use a budget edit group to edit the budget. A budget edit group is a group of accounts and optionally accounting units grouped together for budget editing purposes. To learn how to create the budget edit group, see Defining budget edit groups. The edit will occur upon release of the transaction.
Example
LGE Corporation has an annual budget of $60,000 for the budget edit group called Equipment. This includes computer, printer, and desk accounts 55110 through 55130. Year to date, there are actual amounts totaling $50,000, leaving a remaining budget balance of $10,000.
| Company | 4321 |
| Accounting unit | 201 |
|
Budget edit group= equipment: Computer Printer Desk |
Account: 55110 55120 55130 |
|
Computer Budget Printer Budget Desk BudgetTotal annual budget |
$10,000 5,000 45,000 $60,000 |
|
Computer Actuals Printer Actuals Desk ActualComputer actuals |
$10,000 2,000 38,000 $50,000 |
| Budget edit group balance | $10,000 |
On May 1st, a purchasing agent at LGE Corporation enters a requisition for one computer at a cost of $2,000.
With the total budget of $60,000 and a new commitment of $2,000, the system calculates that the new requisition added to the $50,000 in actuals is within the budget. The system allows the requisition because the total budget for the budget edit group has not been exceeded, but the computer budget has been.
|
Computer Budget Printer Budget Desk BudgetTotal annual budget |
$10,000 5,000 45,000 $60,000 |
|
Computer Actuals Printer Actuals Desk ActualComputer actuals |
$10,000 2,000 38,000 $50,000 |
| Commitment/Encumbrance | 2,000 |
| Budget balance | $8,000 |