BUDGET PLANNING CASE STUDY

Case

Acme Holding wants to make budget expense plans and record forecasts and targets for the Maintenance, Finance, Sales, Marketing, Production, and Management departments. Thus, it aims to provide control and supervision between the planned expense and the actual.

Transactions

Preliminary Transactions

1. Make Process definitions for Budgets. 
2. Define Budget Categories. 
3. Add Budget Items to the system. 
4. If the accounting code you need to associate the Budget Item with is not in the chart of accounts, add it. 
5. Define Cost/Revenue Centers. 
6. Make Activity Type definitions. 
7. Make the Transaction Type definitions for the Planning Receipt. Make Process definitions for Planning Receipt. 

Main Transactions

1. Create the budget record.
2. Design the budget plan for the relevant Department and Expense/Revenue center by adding a Planning Receipt. 

Post-Transactions

1. Check the budget record. 
2. Check Planning Receipts. 
3. Check Planned and Actual Income/Expense in Budget Report. 
   

You can do study, training, developmental testing, and learning activities on your own through the example case above.