This overview introduces you to the budgeting functionality that is available for public sector. This includes budget analysis, preliminary budgets and apportionments, and posting definitions.
What are the prerequisites to setting up Budgeting in the public sector?
To use budget control, you must set up basic budgeting. In the public sector configuration, you set it up at the same time as you set up basic budgeting. You should also do the following:
- Set up a numbering system
- Set up General Ledger
- Set up accounts
- Create financial dimensions
- Create date intervals
What do I do next?
You may be required to set up the following Budgeting features:
- Budget analysis in the public sector View revenues and expenditures by financial dimension, by using a combination of general ledger and budget control data. View summarized amounts and transaction details for revised budgets, actual expenditures, encumbrances, and pre-encumbrances.
- Preliminary budgets and apportionments in the public sector Create a temporary, preliminary budget while the actual budget is being reviewed and approved. Apportionments are the portion of the original budget that have been approved for spending.
- Public sector posting definitions Use posting definitions to create subledger journal lines for originating transactions that meet selected criteria.
Note This also applies to General ledger, Accounts payable, and Accounts receivable.