Automatic Funding AdjustmentAn important feature in Project Billing is the need to ensure your revenue budget agrees with funding assigned to the project.
This can make the revenue budgeting process labor intensive and time-consuming.
Budget Wizard has a facility to check the funding level on your revenue budget, and to adjust it if necessary.
At this stage the feature only works for project level funding. If you have task level funding, then you will have to manually alter the funding before the budget can be baselined. If this feature enhancement is desired – please do not hesitate to contact us at https://community.more4apps.com/s/ebs-contact-support/.
The normal constraints to funding adjustments apply:
· You may only increase the funding if funds in the agreement are available.
· You may not decrease the funding to below existing revenue or invoicing level.
The feature is optional, and the default is to NOT use this feature. It can only be enabled by changing the profile option setting in Oracle Applications. Refer to the Profile Options section of this document for details on setting the profile option.
To check the settings in Oracle, select the ‘Control Settings’ icon from the ribbon and select the ‘User Settings’ button. For more details refer to the Control Settings section of this document.
The only Budget Type that uses the Funding mechanism is the seeded ‘Approved Revenue Budget’ therefore Budget Wizard does not attempt the funding adjustment on other revenue budget types.
If, and only if the Budget Wizard feature is enabled, the upload process continues normally up to the point where the draft budget is updated. Before the baseline is attempted the existing funding of the project is checked to see if the amount matches the total of the new draft budget. If it matches, then there is nothing to be done and the baseline is performed. If not, then a funding adjustment is necessary.
Budget Wizard tries to make the process as simple as possible and will perform the adjustment in certain circumstances without the user having to state the agreement number in the ‘Agree. Num’ column.
There are two scenarios:
Scenario 1
User has NOT put an agreement number in the ‘Agree. Num’ column:
• If there is existing funding from ONE agreement only, then Budget Wizard will try and do the funding adjustment using that agreement.
• If there is no funding at all, then Budget Wizard checks to see if there is a SINGLE agreement possible to fund the project from (this is not likely). If this situation exists, then Budget Wizard will proceed with that agreement.
Scenario 2
User has entered an agreement number in the ‘Agree. Num’ column:
• Agreement is validated. Only this agreement will be used for the funding adjustment.
What happens if:
• The Agreement Number supplied is invalid?
• There are insufficient funds in the supplied agreement?
• Budget Wizard has found an agreement itself but there are insufficient funds?
In any of the above fail, Budget Wizard offers the user a chance to review all possible agreements in a form and select funds from multiple agreements. Running totals are kept to indicate progress of the allocations. When the required amount is met by the user allocations, then the funding adjustments and baseline can continue.
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