Concept: Position Budgets
Position budgets enable you to establish position budgets for budget checking when you implement position control. You can track position budgets at the position level for the fiscal year. You can adjust the fiscal year budget throughout the year to reflect changes such as compensation and staffing modifications.
When setting up position budgets, you can specify the structure dimensions to include in your position budget. The available dimensions are from payroll, and include:
- Cost Center
- Region
- Location
- Pay component
By specifying budget check options, you can compare submitted position budgets against the available budget and determine budget sufficiency. This comparison gives approvers the insight to make decisions and take appropriate actions.
You can also compare position budgets against actuals without using payroll commitments and the corresponding accounting results. This enables you to report on position budgets without performing position control.