When the Financial Hierarchy has been formed, this will now allow for the Budgets to be set-up according to this Financial Hierarchy.
To create a Budget, go to Administration > Modules > Budgets
Clicking on Create will navigate to a page with a the budget configuration requirements.
| Field Name | Description | Example |
Name | The name of the Budget | Sales Team Budget March Week - 4 |
| Budget Period | Choose one from
| Weekly |
| Number of Periods | This defaults to a year's worth of the Budget Period, i.e. 12 for Monthly, or 52 for Weekly. This can be overriden to any number | 1 |
| Starting Period | When the Budget will start. For Weekly, this will be any date, but for the other options it must be a first of a quarter or a month. This will reference the Number of Periods to calculate an End date. | 30/03/2026 |
| Account | Account Code format to be used | Test GL Account Code |
| Allocate Budget | The part in the Account Code where the budget values will be loaded. This can also be thought as the 'Budget Center' | Team |
Once the Financial Hierarchy is in place and the Budget established, the next step is upload budget amounts against each specific allocated Budget Center.