Transferring Budget

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Last updated: Apr 22, 2024 by Shilpa K (Deactivated)Version comment
2 min read
 SummitAI Procurement
Procurement


You can transfer a Budget amount from one cost center to another cost center.

To transfer a Budget:

  1. Select Procurement > Configuration > Budget. The BUDGET page is displayed.
  2. Select the Budget from which you want to transfer the amount.

    BUDGET page
    Figure: BUDGET page

  3. On the ACTIONS panel, click TRANSFER. The TRANSFER BUDGET page is displayed.


    Figure: BUDGET page: List page

  4. On the TRANSFER BUDGET page, fill in all the required details. For more information about the fields on the TRANSFER BUDGET page, see Field Description.
  5. Click SUBMIT.

Field Description

The following table describes the fields on the TRANSFER BUDGET page:

Field

Description

From Department

Name of the Department that transfers the Budget amount.

Recipient Department

Select the name of the Department from the drop-down list that receives the Budget amount after transfer.

Recipient Group

Select the name of the Group from the drop-down list that receives the Budget amount after transfer.

To Budget Code

Type in the recipient Budget code.

Note: Budget transfer is discarded only when the Recipient Budget is in Pending for Approval state or the Budget amount is less than 1.


If there is no Budget available for the selected Department and Group with the same configuration, system creates a new Budget with the entered Budget Code. If the To Budget Code field is empty and disabled, the application auto populates the To Budget Code field when entered for Budget with same configuration.

Transfer Amount

Type in the amount that you want to transfer.