Budget Revision

A Budget Revision allows you to update an existing budget when plans change during the fiscal year.

Instead of editing a submitted Budget, revisions help maintain:

• Audit history
• Clear tracking of changes
• Accurate budget vs actual analysis

1. How can you revise an existing budget

• Open the Budget you want to revise.
• Click Revise Budget from the Actions menu.

• A confirmation message is shown: click Yes to continue.

• A new Budget draft is created automatically.
• Update the Budget Amount and modify the Budget Distribution as required.
• Save and Submit the revised Budget.

The previous Budget is cancelled, The revised Budget becomes active.

2. When to Use a Budget Revision

Use a Budget Revision when:

• Budget amounts need to be increased or reduced
• Budget distribution needs to be adjusted
• Business priorities change mid-year
• Additional funds are approved for an account or dimension