Time Sets

When you add templates, you have the option to select the Default Time Set or define a Custom Time Set. So, its important to set the Default Time Set prior to adding templates.

Time Sets allow budget input at a selected time period frequency in a budget template for each budget input year. This flexibility allows you to create templates with accurate operational plans and provide a means for long term strategic planning.

Time period frequencies include Year, Quarter and Month. A time set definition (i.e. Month, Quarter, Quarter, Year, Year, Year) determines the template column structure for allowed budget input periods.

Let’s say you have 6 Budget input years. The template is defined with the following time set definition:

• Year 1 - Month = 12 periods
• Year 2 - Year = 1 period
• Year 3 - Quarter = 4 periods
• Year 4 - Quarter = 4 period
• Year 5 - Year = 1 period
• Year 6 - Year = 1 period

The template will have 23 Budget input periods (assuming 12-month periods in a fiscal year). Or you can have the template defined for any number of years such as 1, 2 or 4 and up to 6 fiscal years with any granularity (Month/Quarter/Year) for budget data input.

How to Configure Time Sets?

Configuration of time sets starts with the Configuration Task called Define Budget Parameters. Access the Configuration Task List page by navigating to Maintenance > Admin > Configuration Tasks. Then, select the Define Budget Parameters task.

The number of years selected for Budget Input Years determines the number of applicable years for the time set definition.

Let’s say you select 5 Budget Input Years. You could then select to have a time set defined to budget at the month level, which leaves you with 60 periods for budget input in all templates with the All Months time set. Or, perhaps you want to have the first 2 years at the month level and the remaining years at the quarter, which leaves you with 36 periods (24 input periods for the first 2 years and 12 input periods for the remaining 3 years at the quarterly time set).

The time sets you create may have varying frequencies. Once created, you may map the time set to a template.

How to Define Time Sets?

1. Navigate to Maintenance > Templates > Template Setup.
2. Click the More list box.
3. Select Define Time Sets.
   
   
4. Click the Add button on the Define Time Sets page.
   
   
5. Enter a name and code to identify the time set.
6. Select the number of years and the time period frequency for each year.
7. Click Save.
   

How to Set the Default Time Set?

1. Navigate to Maintenance > Templates > Template Setup.
2. Click the More list-box.
3. Select Define Time Sets.
4. On the Define Time Set page, select the time set that you want to be the default. This means that when you add a template and select the Default Time Set option (shown below), it is applied unless you select Custom Time Set.
   
   
5. Click Set Default. It is displayed in a red color.