Budget Management

The Budget module in PrismERP provides a structured way to manage financial planning and allocations across branches, departments, and operational activities. It includes the ability to create and organize budgets using budget categories, category templates, and subcategories, ensuring amounts are properly structured.

Users can view and manage budgets in detail, including breakdowns, distributions across accounts, internal transfers, and related attachments or notes. Budgets can be compared side by side using the Budget Comparison feature, and the Budgetary Financial Position report provides the planned financial position for a selected year.

The module also allows users to update budget status as Proposed, Approved, or Closed, with editing permitted only while in Proposed status.

Add Budget Category

Field	Action
L1: Header	Enter the top-level financial classification.
L2: Group	Enter the group under the selected header to organize related accounts.
L3: GL	Enter the General Ledger (GL) name used for posting transactions.
Level Name	Enter the name of the budget category according to the selected level.
GL	Select the related General Ledger.
Expense Category	Select the expense category for budget category.
IFRS Control	Select the applicable IFRS classification for compliance and financial reporting.
Description	Enter additional details to clarify the purpose or usage of the category.
Carry Forward	Select if unused budget amounts should be carried forward to the next financial period. Leave unselected if the budget resets annually.

Budget Category List-Search & Actions

Field	Action
Name	Search budget categories by entering the category name.
Code	Search budget categories using the unique category code.
Add	Add a new budget category by entering its name, code, parent category, and description.
Edit	Edit an existing budget category to update its name, code, parent, or description.
Delete	Delete a budget category if its no longer required from the list.

Add Budget Category Template

Field	Action
Budget Category Template Name	Enter a clear and identifiable name for the template
Code	Enter a unique reference code for the template for easy tracking.
Department	Select the department where this template will be applied
Budget Category	Select the relevant budget category to add into the template.

Budget Category Template List

Add New Budget

Field	Action
Name	Enter a descriptive name for the budget.
Code	Enter a unique reference code for easy identification and tracking.
Branch	Select the branch to which this budget applies.
Department	Select the department responsible for this budget.
View As	Choose the preferred view format (e.g., independent,consolidated,tiered).
Parent Budget	Select a parent budget if this budget is part of a larger consolidated budget.
Sources Type	Select the type of budget source (e.g., Company, Department, Project).
Type	Select the type of budget (e.g., Operational, Capital, Revenue).
Note	Enter additional information or comments about this budget.
Start Month	Select the month when the budget period begins.
End Month	Select the month when the budget period ends.
Start Year	Enter the year when the budget starts.
End Year	Enter the year when the budget ends.
Category Template	Select a predefined budget category template to apply. This automatically structures accounts and expense categories for the budget.

Budget List & Details View

Section	Action
Breakdown	View all major budget categories and subcategories.
Distributions	See how amounts are split into individual accounts or cost centers.
Transfers	Review any internal transfers related to the budget.
Attachments	Access supporting documents like invoices or agreements.
Info	View notes or additional details regarding the budget item and access administrative view.
Budget Status	Users can update the status of the budget. Budgets can be marked as Proposed, Approved, or Closed.
Editing Rules	Editing of the budget is allowed only when the budget is in Proposed status. Once approved or closed, changes are restricted.