Basic budgeting is the essential setup for the budgeting module, and it consists of budget models, budget codes, dimensions for budgeting, and budget allocation terms. There are some things that should be considered from the start of the implementation if the company is going to utilize budgeting functions.
The following main points should be discussed during the analysis and design phases with the company's CFO and controller:
- Profit and loss accounts—the budget control feature works with profit and loss (P&L) accounts only.
- Account structure for P&L accounts—the budget control has only one attached account structure, so it is recommended to have one account structure for the P&L account if the company going to use budget ...
