Creating a New Annual Budget

The annual budget is typically created during the fourth quarter before the following year begins, and it is reviewed in Q1 of the following year when more current numbers are available. An external system prepares corporate budgets by location and by period (week). These budgets are then imported into the Budget Management module to solicit feedback from different employees in a company.

After a new corporate budget has been imported successfully:

  • The root location is in Pending state. All other child locations are in Initial state. They can be accessed only by the root budget manager for viewing and updating.
  • By default, the system automatically sends a notification via Workmail to the budget manager for each location involved in the budget solicitation process, but only root budget managers can see and edit the numbers. You can use the IMPORT_NOTIFICATION registry parameter to configure whether this notification is sent to the root budget manager only or to all locations, depending on the budget status (Initial, Locked or No Change) and the defined locations (ROOT_ONLY or ALL). See the Infor WFM Registry Parameter Reference Guide.