Operating Budgets

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The operating budget system is a tightly integrated subsystem within Qbyte Financial that allows the user to create and maintain one or more operating budgets. The budget subsystem is driven from a financial accounting perspective.

The user can build an operating budget as a base budget with incremental budget activities. This allows the user to run different budget scenarios based on the inclusion or exclusion of certain variables. It also allows the user to set up different budget versions based on different product prices or operating expenses per BOE.

An Operating budget is identified by a Budget Reference (a user-defined code for the budget), a Budget Year (the year for the budget) and a Version for the budget (a system-generated number for the budget version). A budget may also span organizations and currencies. A budget version is made up of the budget amounts as well as a set of subordinate rules and definitions. This subordinate data includes budget prices, exchange rates, allocation rules and derivation rules that are considered to be attributes of a budget version.