A budget is an estimation of revenue and expenses over a specified future period used to manage your expenses. A budget expresses intended expenditures along with proposals for how to meet them with resources. You can define analytical budget information on X3 by company or financial site. You can create a budget for amount or quantity. This document will focus on the Budget by quantity.
Setup the budget that you will be using by navigating to:
Setup > Financials> Budgets> Budgets
Budgets must apply to an analytical account that can be budgeted (or to the account group of an analytical accounts pyramid) with at least one dimension (or one dimension pyramid) and up to nine dimensions (or nine dimension pyramids).
If the Budget is created for quantity the Quantity entry must be ticked.
Operating budget: Select if the budget code is only used for operating budgets and cannot be used for standard budget entry/modification functions.
Control type: Determines the budgetary control applied to the budget.
Budgets must be linked to one chart of accounts with dimensions.
Ensure that the version is linked and final is set to Yes.
Link the Budget on Parameter values by navigating to:
Setup> General parameters> BUD Budgeting> Company.
Link the budget created to BUP1
Ensure that the dimensions are linked to the following:
• GL Accounts
• Default dimension types
• Ledger on company setup
• Entry transactions for orders and invoices.
For GL Accounts navigate to:
Common data> General accounting Tables> General > Accounts.
On the Analytical tab ensure budget tracking and Nonfinancial Unit Entry and Nonfinancial unit is entered.
Ensure the dimensions used for the budget are linked on the account.
To add dimensions on Default dimension types, navigate to:
Setup> organizational structure, Default dimension types.
Link the dimensions for product, customer, and supplier.
To add dimensions on Ledger on company setup, navigate to:
Setup> Organizational structure> Ledger
To add dimensions on Entry transactions for orders and invoices, navigate to:
Setup> Purchasing> Entry transactions> Purchasing> Orders
Entry transactions> Invoice/Credit Memo
Now you can create the budget entry by navigating to:
Financial> Budgets> Budget entry.
Click OK and enter the budget details.
Notice that we have entered both the amount and quantity as this is a quantity budget.
Once the budget entry has been created you can start processing, navigate to:
Purchasing> Orders> Orders.
Ensure you link the dimensions and account used on the budget lines when creating your order.
You can review your budget enquiry on the order by selection the action button on the lines and clicking budget.
You will be able to see the consumed budget and quantity.
If you go back to the budget entry you will be able to see the committed amounts as well.
You can print the budget report to view your budget.
Please be advised that if the Quantity entry is not ticked then the amounts will show on the report instead of quantity, however because the budget created is for quantity the quantity is going to show.
Thank you.