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Hi IFS Community,

 

I am trying learn on IFS Application functionality on Budgeting.

I see that budget can be maintained in two ways :Budget Process & Budget Version. And also Budget Version can be updated from Budget Process. I am not clear about the practical usage of this.

Does any of you has a good example how these are used real business

What would be best practice to use these two options?

And also can we handle forecasting from this functionality?

Hello,

If I understood it right, budget process is a workflow dedicated to a budget preparation (with multi-level approval) and leading to a final approved budget version, which is just a set of values to be compared with actual figures.

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