Budget Scenarios

How to Create a Budget Scenario

1. Navigate to Maintenance > Admin > Scenario Setup.

2. Click the Add button.

3. Ensure the General Information tab is selected on the left.

4. Select the Scenario Type . In this case, select Budget.

5. Enter a Scenario Code. This field is mandatory.

6. Enter a Scenario Name. This field is optional.

7. Select the Fiscal Year for which the budget is being created. By default, the current fiscal year is displayed.

8. 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.

9. 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 period which will be used as the base to calculate the MTD value for the first period in cash flow reports.

   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).

   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.

10. Select source scenario and source period details in which to populate your scenario. By default, HistoryPeriod 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.

11. Click the Data Seeding tab on the left. If you want the current budget versions to be pre-populated with prior scenarios, select the Enable Data Seeding checkbox. If you are not seeding the scenario, click Compare Scenarios.
    See: Alternate Approach to Data Seeding

12. Select Seed all from Reference Scenario to select one scenario to seed all templates, notes, and sublines from. See the image below.

Template seeding is available for the following template types; Global Template – Single Copy, Global Template – Entity Copy, and Line Item templates.

13. Another option is to leave the Seed all from Reference Scenario checkbox blank and select a reference scenario. Then, make selections to seed templates, notes, dynamic journals, and sublines as needed from a referenced scenario. In the image below, the 2017 Plan scenario is the Reference scenario data will be seeded from, and, templates and sublines will be seeded, but notes and Dynamic Journals will not be seeded.

If you have the Consolidation application, you can seed Dynamic Journals.

14. The final option is the Seed Data From option. Available selections are:

    • Seed Templates/Notes/Sub-lines from a reference scenario without data seeding- select None.

    • Seed Templates/Notes/Sub-lines from a reference scenario with the data seeded from the reference scenario - select Reference Scenario.

    • Seed Templates/Notes/Sub-lines from a reference scenario with the data seed scenario changed by period - select Varying Scenario and Period Selections.

    • 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. Select Reference Scenario with Overlapping Periods.

15. 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). Click Save. 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.

16. 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.

17. 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.

18. Click Save and return to the Scenario list page.

19. From the Scenario list page, select the three vertical dots and click Forward scenario. Scenarios must be in a forwarded state to make them available to budget users.