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SIMG_OHCMP_2520 - Define Budget Types

SIMG_OHCMP_2520 - Define Budget Types

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In this step, you define your budget types and whether the budget type deals with a currency, an amount or a quantity. The budget type determines what sort of budget you are planning. Examples of budget types would be:

  • Budget for salary increases
  • Budget for bonuses
  • Budget for distributing stocks/shares

The system contains sample budget types that you can copy or use as a basis for creating your own.

  1. Determine which budget types you need in your organization
  2. Choose New entries or Copy
  3. Enter a four-character code and a text for each budget type
  4. For each budget type, specify the following:
    1. Whether the budget type is a monetary budget, if so, select the field Mon.budget
    2. Whether the budget type is a non-monetary budget, if so, enter a unit of measurement.
    3. If you want to be able to use the budget type in the Compensation Administration component, select the field Allocat.
  5. Repeat steps 2 to 4 until you have entered all the budget types you need.
  6. Save your entries.






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