Creating Budget Scenario

This scenario is designed for budgeting purposes and cannot incorporate actual data. The Budget Scenario can be seeded from a previous budget or forecast scenario or created as a Zero-based scenario. This scenario offers the option to show historical data to guide through budget inputs.

To create a Budget Scenario, follow the steps below:

1. Navigate to Maintenance > Administration > Scenario Setup.
2. Click the Add button. The Add Scenario page appears.
3. On the General Information tab, select Budget from the Scenario Type drop-down list.
4. Enter a Scenario Code. 
5. Enter a Scenario Name. This field is optional.
6. Select the Fiscal Year for which the budget is being created. By default, the current fiscal year is displayed.
7. Enter a History Column Name, which is generally a description for the historical periods. When Budgets are prepared, history data may or may not be available. To address this, configure history periods from other scenarios to populate history data.
8. When the data becomes available for history periods, you might want to generate cash flow calculations based on the new data. To allow this, select Enable History Scenario for Cash Flow. This setting allows you to select a scenario and periodwhich will be used as the base to calculate the MTD value for the first period in cash flow reports.
   1. History Scenario -Indicate the source to display comparative data from two (or more different) scenarios. Typically, a full year of prior actuals are not available, you may "plug in" data against open months from other scenarios (i.e. the latest forecast).
   2. History Period - Select the months from which the historical actuals need to be displayed in the template and the months in which data needs to be displayed from other scenarios.
9. Select source scenario and source period details in which to populate your scenario. By default, History Period selections show data from the Actual scenario's prior fiscal year. However, You may select a Source Period to seed actuals from the desired Source Scenario if you want to overwrite the default source periods.
10. Click the Data Seeding tab on the left,  if you want the current budget versions to be pre-populated with prior scenarios or seed data from Predict projections. If you are not seeding the Scenario, click the Compare Scenarios tab. The data can be seeded from any of the following methods:
    1. Seed from Predict Projections: To seed scenarios in templates from the Predict Projections Engine, copy the reference scenario in Scenario Setup to fill the copied template with history-mapped projections.
    2. Seed all from Reference Scenario: To seed a scenario from the source to target with all templates, notes, dynamic journals, and sublines.
    3. Reference Scenario: This option helps to copy data from source to target. The source data might have both open and closed periods. When you have data for closed periods, you can choose whether to include them in the target scenario.
    4. Varying Scenario and Period Selection: Use this seeding option to seed multiple scenarios and different periods to the target scenario.
    5. Reference Scenario with Overlapping Periods: This seed option can be used when seed templates/Notes/Sub-lines from a reference scenario to a target scenario where overlapping template periods and mismatched template structures exist in the source to target scenarios.
       To learn more about Data Seeding, click here.
       See: Alternate Approach to Data Seeding.
       
       
       Notes: 

       • Template seeding is available for the following template types; Global Template – Single Copy, Global Template – Entity Copy, and Line Item templates
       • If you have the Consolidation application, you can seed Dynamic Journals
11. Select the Compare Scenarios tab. Compare scenarios are used to display comparative data from other scenarios such as: historical actuals, latest budget data, data from the prior budget cycle, and plans with budget targets. Click Enable Compare Scenarios and select scenarios. The number of Compare Scenarios is determined during application configuration (Define Budget Parameters task on the Configuration Task List page).
12. Select the Data Trend Setup tab if you are a MyPlan user. Data Trends allow users to use prior, present or future data points to help them complete a budget or forecast, by looking at data from any given scenario and time period, in order to analyze and benchmark against their working scenario. Users can use this feature to make actionable decisions by knowing how and what should be Planned, knowing where they are going to ultimately Land, and most importantly have a clear picture of where they currently Stand. For more information, see the MyPlan guide.
13. Select the Workflow Setup tab. Click the Enable Workflow for this Scenario checkbox to enable workflow actions like forward and approve. Workflow tasks are generated for roll up members and not all artifacts (templates and entities) associated with the rollup. For example, if Joe has access to the Budget Hierarchy and Denver HQ roll ups, the workflow task is generated only for Budget Hierarchy. If Joe has access to Denver HQ only, Denver HQ becomes the roll up for him and the workflow task is generated only for Denver HQ. To generate tasks for all the artifacts associated with a roll up, select the Generate Tasks for all Artifacts check box on the General tab of the My Settings page. By default, this check box is not selected. Access is based on Approval Role Setup.
14. Click Save and return to the Scenario list page. Now that you have created a Budget Scenario, you can lock the scenario so that budget users can't modify it, attach documents to the scenario, create a copy of the scenario, add templates, and so on.
    
    Note:

    Click the Reload icon to retrieve up-to-date scenario list.

Scenarios must be in a forwarded state to make them available to budget users. To forward the scenario to budget users, follow the steps below:

1. Navigate to Maintenance > Administration > Scenario Setup.
2. Select the Scenario created, select the three vertical dots, and click Forward Scenario.