Create forecast models for project budgets
Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
A project that is subject to budget control uses two types of budgets: the original budget and the remaining budget. When you create a project budget, you must specify the original and remaining budget forecast models that were created in the Forecast models form. Project budgets based on the specified models are created when you commit the project budget.
A forecast model that is used for budget control cannot have a submodel, and it cannot be used as a submodel.
Click Project management and accounting > Setup > Forecasts > Forecast models.
In the Forecast models form, click New to create a new forecast model, and then enter a model ID number and a name for it.
To prevent changes from being made to the forecast lines that the forecast model is associated with, select the Stopped check box.
If the forecast lines that the model is associated with should generate cash flow forecasts in the general ledger, select the Cash flow forecasts check box.
In the Budget type field, select one of the following options:
Original budget – Use this model type for the original budget amounts that are committed when the initial budget is created and approved.
Remaining budget – Use this model type for the remaining budget amounts during the life of the project. The balances in this forecast model are reduced by actual transactions and increased or decreased by budget revisions.
Carry-forward – Use this model type for carry-forward budget amounts for the project. Carry-forward is an optional process that can be run to transfer unused budget amounts from one fiscal year to another.
Optional: On the Project FastTab, select the options that you want to use for the invoice date or for forecasting WIP.
After the record is saved, the budget type cannot be changed.