Budget Process Flow
Creating the Budget
After Forecasting is done, finance executives use Budget Builder to create a new Budget and enter their global assumptions. Department managers can then enter Budget requirements against those assumptions.
Updating Exchange Rates for the Budget
Exchange rates for Budget automatically carry over from the NetSuite environment. Finance executives can update the Budget's exchange rates, as needed, to evaluate the impact of the Budget changes in the foreign exchange market.
Adjusting the Budget
The budget owner uses the Budget as is, or they can perform additional adjustments to Budget values by using the Budget adjustment forms. After making adjustments within the forms, budget owners aggregate the application to populate top-level members with the adjusted data.
Reviewing the Budget Income Statement
After all Budget forms are updated, finance executives use the Income Statement -Budget form to analyze income statement Accounts.