Budgeting is a forecasting feature that enables you to plan costs for the future. It extends the budgeting functionality of the General ledger, and makes it possible to transfer budgets to and from the General ledger.

The Cost accountingmodule has two separate forecast functions: budgeting, which is standard functionality, and flexible planning, which is an advanced budgeting functionality and requires special licensing.

If you want to plan costs, you must first create a budget model using one of the following budget model types:

• Cost accounting budget

• Ledger budget

• Flexible Budgeting

The Budgetform provides an overview of all budget costs. To receive an overview of budget costs using all budget models, you can aggregate these budget models by linking them to each other as submodels on the Submodeltab.

When you create budgets, you must distinguish between:

• Cost budget: Used to create budgets based on cost categories.

• Service budget: Used to create budgets based on service categories.