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Administrator Guide
Last Updated: 2024-09-20
Maintain Budget in AP&C

Maintain Budget in AP&C

  • Create plan periods for each combination of plan structure and company or company hierarchy.
  • To plan by company hierarchies, configure the Default Reporting Currency on the
    Edit Consolidation Details
     task.
  • Security:
    Process: Budget
     domain in Budgets functional area.
You can enter or update data to define plans or budgets and forecasts for each period in your plan or budget duration in Adaptive Planning and Consolidation (AP&C). You can then use this data as the basis for comparative reporting. If the plan or budget requires approval, you can update details for each period until you submit the plan or budget.
  1. Access the
    Maintain Budget
     task.
  2. As you complete the first part of the task, consider:
    Option Description
    Company
    You can only enter details for 1 currency and 1 company or company hierarchy at a time.
    Organizing Dimension
    The organizing dimension type applies to all plan details for the period, summary period, or duration.
    Plan Currency
    Workday converts plan credit and debit amounts from this currency into the company base currency according to the conversion rate that you set up.
    For multicurrency financial plans, you can add plan lines with identical ledger accounts and worktags if you use different currencies on each plan line.
  3. As you complete the second part of the task, consider:
    Option Description
    Ledger Account/Summary
    For each plan line, select a unique combination of ledger account and worktags.
    With structured dimensions, you can select the specified ledger account summaries. Without structured dimensions, you can only select the accounts in the specified ledger account summary.
    Worktags
    For plans or budgets with structured dimensions, you can only select worktags specified in the plan structure. These structured dimensions also determine which worktags are optional or required. If you don't configure structured dimensions, you can select any worktag enabled for plans or budgets.
For a financial plan, you could set a travel plan with 10,000 USD for cost center 10001. You could configure this plan in 2 ways:
  • Set a plan for travel expense to 10,000 USD for cost center 10001. With this configuration, workers in region A can consume the entire travel plan for the cost center without any allocated expenses used by another region.
  • Set a plan for travel expenses to 4,000 USD for cost center 10001, region A, and 6,000 USD for cost center 10001, region B. With this configuration, you allocate the plan by region within this cost center.
  • Generate financial statements that compare actuals ledgers to plans or budgets across years or periods.
  • Use the
    View Plan
     report to view the plan details by period.