Revisions to Budget Entries in SAP Business ByDesign
Budget Control in SAP Business ByDesign is a solution that enables users to manage their budgets in a timely and efficient manner within the system. Along with the functionalities that have been previously documented, this add-on comes with the versatility to enable users to make changes and revisions to their budget as they become necessary.
How can we support changes to Budget Control? This question can be answered with the introduction of Budget Revision Requests functionality.
The Budget Control solution allows the user to modify and revise a budget in real-time by utilizing one of three different change types:
- Budget Extension/Revision: to add new funds to a particular budget or remove existing funds
Click New > Revision Request > Select Extension or Revision > Select Budget > Enter Reason
- Fund Transfer Between Budgets: to transfer balances between two different budgets
Select Revision type > Select Source Budget > Select Target Budget > Enter Reason and Amount
- Fund Transfer Between G/L Accounts: to transfer balances from one G/L Account to another
Select Revision Type > Select Budget > Add row to add G/L account and type (Transfer in/out)
This is a versatile process that allows users to revise their entry in real-time. When budges are edited, the add-on automatically creates a trail for audit purposes. With this functionality, optimal compliance functionality is achieved by providing auditors with the necessary information to analyze changes (increases/decreases) to the budget.
- Ensure audit compliance
- Change your budget control procedure in real-time
- Versatility in how the change occurs via 3 change types
The Budget Control add-on solution in SAP Business ByDesign has been created as a cost-effective solution to achieve the process shown above. This solution ultimately ties together the need for time efficient control of spending in everyday business leading to large ROI for the SAP clientele.
For any questions, please comment below or contact Sandip Sidhu.