Adding Budget

Owned by Enterprise IT
Last updated: Apr 23, 2024 by Mayuresh Balaji Kamble (Unlicensed)Version comment
2 min read
 SummitAI Procurement
Procurement


You can set a Budget for your Organization.

To add a new Budget:

  1. Select Procurement > Configuration > Budget.
  2. On the BUDGET LIST page, click ADD NEW on the ACTIONS panel. The BUDGET page is displayed.
  3. Fill in the details, and then click SUBMIT. For more information about the fields on the BUDGET page, see Field Description.

    BUDGET page
    Figure: BUDGET page

  4. The Budget is saved and sent for approval.

Field Description

The following table describes the fields on the BUDGET page:

Field

Description

Tenant

Select the Tenant from the drop-down list for which you want to create a new Budget.

Budget Code

Specify the Budget Code for the Budget that is created.

Budget Period

Select the Budget Period from the drop-down list. To configure a new Budget Period, see Configuring Budget Period.

Budget Type

Select the Budget type from the drop-down list.

Vertical

Select the Cost Center from the drop-down list. The Cost Centers are configured on the MASTER CONFIGURATION page, see Adding Master Configurations.

Project

Select the Sub Cost Center from the drop-down list. The Sub Cost Centers are configured on the MASTER CONFIGURATION page, see Adding Master Configurations.

Amount

Specify the allocated amount for the Budget.

Currency

Select the currency of the allocated amount for the Budget.

Product

Specify the Product for which the Budget is created.

Active

If selected, the Budget configuration becomes active.

ACTIONS

This section explains all the icons displayed on the ACTIONS panel of the BUDGET page.

SHOW LIST

Click SHOWLIST to display the LIST table showing the Budgets that are configured for a selected Procurement Department.

LIST section of BUDGET page
Figure: LIST section of BUDGET page