What Are Time Sets?

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.