Promote a budget plan

After you review the budget plan and agree to the numbers, you can promote it to a forecast. The forecast becomes a benchmark for the same fiscal period specified by the plan.

Before you begin

Role required: budget_admin
Note: All items must have an account number associated with them before you can promote the budget plan.

Procedure

  1. Open a budget plan.
  2. Click Promote.
    Note: The application creates a forecast and a read-only copy of the project plan that the forecast refers to. This allows you to modify the project plan without changing the forecast.
  3. Navigate to Financial Planning > Budget Planning > Budget Forecasts.
  4. Click the forecast Display Name to open it.
  5. Verify the information on the form and related lists (see table).
  6. If you make any changes, click Update.
    Figure 1. A budget forecast
    Table 1. Budget Forecast fields
    Field Description
    Display Name The name derived from the budget plan
    Budget Key The budget key used by the plan.
    Account Number An account associated with the forecast.
    Budget Owner The budget plan's owner, who also has access to this forecast.
    Budget Plan The budget plan from which the forecast was derived.
    Fiscal period The fiscal period from the budget plan.
    Amount The Budget Amount from the plan. This value populates the Final Amount field unless you use an override.
    Override Amount An amount that can replace the amount in the Final Amount field. Enter an amount if you want to ignore the value in the Amount field.
    Final Amount The final amount that is taken from the Amount field, or, if you are using an override, the Override Amount field.
    Override Category The category for the override.
    Target The target amount for the account code on the budget forecast. The target amount may not be the same as the target on the budget plan because there may be multiple account codes on the budget plan that each generates a budget forecast. This is because the budget forecast is for a fiscal period + account code combination.
    Related Lists
    Breakdown A breakdown of the Amount value into monthly units. Double-click the fields in the list to edit them or click the record icon to open the breakdown.
    Budget Forecast Items The items inherited from the budget plan.