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Question

Budget Process & Budget Version

  • June 24, 2020
  • 1 reply
  • 360 views
L
Sidekick (Partner)
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  • LahiruD
  • Sidekick (Partner)
  • 32 replies

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?

    1 reply

    A
    Hero (Customer)
    Forum|alt.badge.img+16
    • Adam Bereda
    • Hero (Customer)
    • 735 replies
    • June 24, 2020

    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.

    Regards, Adam


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