How to Configure Budgeting in Microsoft dynamics 365 F&O
Budgeting is the process of creating a plan to spend the money that one has. A plan that is created is called a budget. Budgeting helps in estimating whether the funds available are sufficient to meet the expenses incurred over a period. In short, budgeting is balancing the expenses with the income.
You need to set up basic budgeting before you configure budget control.
In the article, my primary focus was on discussing the configuration process. I recommend referring to the official Microsoft documentation, where you can find comprehensive information about each component.
Create a budget journal.
Setup budget exchange rate type.
Select budget dimensions.
Create a budget model.
Create budget codes.
Define budget cycle.
Setup budget parameters.
Once you setup the basic budgeting next step is to configure budget control.
Enter budget register entries.
Now try to pass an over budget entry in the system.
Actual vs Budget.
Microsoft Dynamics 365 FO| KPMG | Ex-Infosys | Ex-Hitachi |
5 个月Simplified and Informative. Thank you.
--
10 个月Simple and concise thank you
Technical Architect @ OmniHub | Microsoft Dynamics ERP, AX Code, Dynamics 365 F&O Customization
1 年Great post! Budgeting in Microsoft Dynamics 365 F&O is a powerful tool that helps businesses plan and manage their finances effectively. It's important to understand the configuration process to make the most out of this feature. Thanks for sharing!
Sr. Technical Consultant MS Dynamics AX/365 Finance and Operations
1 年Thanks for sharing Talal Ahmed Raza .
Great article with some great insights - thanks for sharing Talal!