Tip of the Day: In Microsoft D365 Finance and Supply Change (D365 F&SC), there are so many hidden gems in Budget Control. Over the next few days, I’ll be posting about how to set up and use the Budget Control features.
Budget Control Overview
D365FO has budgetary control features including two levels of budgetary control. These include basic budgeting and detailed budgeting control. With budgetary control, you can configure rules that will prevent budget overruns or provide warnings when budget thresholds are met. You can also perform budget checks on source documents and accounting journals that have been enabled in the budget control configuration.
What is Budget Control?
Budget control is a method of ensuring that sufficient budget funds are available for planned or actual purchases. After you set up basic budgeting, you can set up budget control. You can set up basic budgeting and budget control based on the ledger for a legal entity. The ledger provides the chart of accounts, accounting and reporting currencies, and fiscal calendar. You can determine which financial dimensions from the chart of accounts will be available for budgeting and budget control.
The objectives of this document are to cover:
· We will discuss the uses of budget control, define rules and specify attributes that will be used with budget control.
· We will configure the budget control parameters including the permissions.
· We will define the available budget funds.
· We will review the source documents and accounting journals that can be used with budget control.
· We will create budget cycles and models, and then I will describe how budget groups work with budget control.
· When we are finished with the setup, I will show you how you can use budget control on a purchase order.