Upgrade the legacy budget model to the new task-based financial planning application

Upgrade your budget and forecast plans of the legacy budget model to the new budget definition based plans manually. The upgrade option copies your budget and forecast plans to the new multi-year planning data model introduced in Kingston.

Before you begin

Role required: cost_transparency_admin, cost_transparency_analyst

This upgrade is not applicable for Project Portfolio Budget Model. Project Portfolio Budget Model is automatically upgraded when your system is upgraded to Kingston.

About this task

To upgrade to the new budget definition-based financial planning, you have to manually trigger upgrade action from the legacy financial planning application. Click the Upgrade button available in the Budget Models form.

Before you trigger the upgrade action, create budget definition and identify the template columns.

Clicking the Upgrade button opens the Copy Plans pop up. Select the budget model and its equivalent budget definition under which the budget plans are to be copied. The budget model hierarchy segments should be mapped to the template columns so that the copy plan action creates the budget keys and budget owners. Copy Plans button triggers the ITFM: FinancialPlanningUpgrade job to transport the budget plans to the new multi-year plan table.

Procedure

  1. Navigate to Financial Planning (Old) > Budget Models > All.
    Figure 1. Copy plans pop-up
    Financial planning copy plans pop-up
  2. Click Upgrade.
  3. Select the legacy budget model in the Budget Model choice list of the Copy Plans pop-up.
  4. Select the new plan definition in the Plan Definition choice list where you want the legacy data model to be copied.
  5. Map the budget model hierarchy Segment with the Template Column in the choice list.
  6. Click Copy Plans button.

    If plans are not copied as expected or if the template columns are not mapped correctly, then you can retrigger upgrade option. Retriggering update option deletes the existing plans in the system and recopies the plans.

What to do next

Understand how finance initiates budget planning and uses the planning workbench to initiate a plan.