Create a budget period Budget period controls the promotion of the budget plans. Budget plans created for a fiscal year can be promoted only if the budget period is open. Before you beginRole required: budget_admin About this task Budget periods can be created for the available fiscal years. Procedure Navigate to Financial Planning > Administration > Budget Periods. Click New in the Budget Periods list view. Enter a Budget period from the choice list. Select the Open check box. Enabling the check box sets the value as true and opens the budget period for you to promote the budget plans created for a fiscal year. Click Submit.