What are Budget Control System and its Benefits

Budget Control System are used for managing income and expenditure.

Budget Control System provides functionality to support full range of activity associated with BCS such as Budgeting and Availability control. Budget Control System functionality is required for JFMIP Requirement, Funds Management function, Agency Requirement and for Agencies have asked for more flexibility and capability.

What are Budgeting Cycle?

Budgeting Cycle includes Budget preparation and Budget execution. Budget preparation is a Planning Process which involves account assignment/summation data oriented budget formulation. Budget execution involves changes documented by entry documents and Revenue Increasing Budget.

What are the Benefits of Budget Control System?

• Organizational changes simplified
• Hierarchical evaluation of data via reporting
• Enhanced usability and clarity of data stored
• Better performance
• Support of dimensions such as Fund, Funds center, Commitment item, Functional area etc.
• Two Budget Categories: payment and commitment budget
• Multiple Budget Versions in parallel
• Concept of process and budget type. Processes are defined and represent the budgeting framework provided such as Enter, Transfer (Send/Receive), Return, Supplement and Carry Over (Send/Receive)
• Budget Types are specified by the customer to refine this framework to the needs of the customer
• Possible uses of Budget Types: Refinement/differentiation of processes (budget type as ‘sub process’) and Keep information of original ‘process’ during transfers/returns (‘budget distribution’)
• Concept of Key Figures for Customer defined views on budget data and Use in multiple contexts
• Powerful Availability Control for Flexibility, Scalability and Encapsulation from budgeting
• Introduction of a Status Management to control for different phases within the budgeting cycle

What are the Benefits of Budget Control System

What is Availability Control Ledger?

An availability control ledger is a specific view on (or aggregation of) a complete budget and the assigned budget consumptions. The user activates one or several availability control ledgers for each budget category.

Availability Control Ledger filters define which values are relevant for Availability Control. Example includes filters for budget values determine which kind of budget values define the consumable budget for postings.