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Version: 1.0.0
Last Updated: 2026-01-28

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Overview

The Budget Creation Wizard guides you through creating an annual budget in 4 simple steps. You can create budgets from scratch or copy from prior approved budgets with automatic growth adjustments.

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Prerequisites

Before using the wizard, ensure:
  • Permission: You have the fa.budget.create permission
  • Fiscal Year: A fiscal year is configured in FA-01 Settings
  • Chart of Accounts: Accounts are set up in FA-01

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Accessing the Wizard

  1. Navigate to Finance & Accounting → Budgets
  2. Click Create Budget or navigate directly to /fa/budgets/wizard

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Step-by-Step Workflow

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Step 1: Budget Header

Enter the basic budget information:
FieldDescriptionRequired
Fiscal YearSelect the fiscal year for this budget✅ Yes
Version NameUnique name (e.g., “FY2026 Baseline”, “Q2 Revised”)✅ Yes
Version TypeBudget category - Baseline, Revised, Worst Case, Best Case, or Custom✅ Yes
DescriptionOptional notes about this budget versionNo
Tips:
  • Use descriptive version names that include the fiscal year
  • Choose “Baseline” for initial budgets, “Revised” for updates
  • Use “Worst Case” and “Best Case” for scenario planning

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Step 2: Copy Template (Optional)

Optionally copy budget lines from a prior approved budget:
  1. Check “Copy from prior budget” to enable template copying
  2. Select Source Budget from the dropdown (only approved budgets appear)
  3. Apply Growth Percentage (-50% to +100%):
    • Positive values increase all amounts (e.g., 5% for inflation)
    • Negative values decrease all amounts (e.g., -10% for cost reduction)
    • Leave at 0 to copy amounts unchanged
When to use:
  • Annual budget planning where costs increase predictably
  • Creating scenario variations from a base budget
  • Rolling forward prior year budgets
Skipping this step:
  • Leave the checkbox unchecked to enter lines manually in Step 3

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Step 3: Enter Budget Lines

Add, edit, and remove budget line items:
ColumnDescriptionRequired
AccountGL account to budget against✅ Yes
FundFund restriction (for fund accounting)No
DepartmentDepartment allocationNo
Period StartBudget period start date✅ Yes
Period EndBudget period end date✅ Yes
AmountBudgeted amount in dollars✅ Yes
Actions:
  • Click Add Line to add a new budget line
  • Click the trash icon to remove a line
  • The running total displays at the top
Tips:
  • Period dates should fall within the selected fiscal year
  • Use funds and departments for segment-level budget tracking
  • Group similar expenses under the same account

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Step 4: Review & Submit

Review your budget before submission:
  1. Verify Header Information
    • Check version name and type are correct
    • Confirm fiscal year selection
  2. Check Totals
    • Review total budget amount
    • Verify line count matches expectations
  3. Submission Options
    • Submit for approval immediately: Budget goes directly to approval workflow
    • Save as draft: Budget is saved but not submitted (default)
  4. Click Create Budget to complete the wizard

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Common Tasks

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Creating a Budget from Scratch

  1. In Step 2, leave the template checkbox unchecked
  2. In Step 3, manually add all budget lines
  3. Review and submit

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Copying a Prior Year Budget with Growth

  1. In Step 2, check “Copy from prior budget”
  2. Select the source budget
  3. Enter growth percentage (e.g., 5% for 5% increase)
  4. In Step 3, review copied lines and adjust as needed
  5. Submit

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Saving Progress for Later

  1. Complete any steps you can
  2. Click Save and Exit
  3. Return to /fa/budgets/wizard to resume
  4. Your draft will be preserved for 30 days

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Creating Multiple Budget Scenarios

  1. Create your baseline budget first
  2. Copy the baseline using different growth percentages:
    • “FY2026 Best Case” with +10% growth
    • “FY2026 Worst Case” with -15% growth
  3. Submit each scenario for comparison

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Troubleshooting

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Budget Not Saving

Symptoms: Changes aren’t persisted after refresh Solutions:
  1. Check your internet connection
  2. Verify you have fa.budget.create permission
  3. Try clicking “Save and Exit” explicitly

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Template Not Available

Symptoms: No budgets appear in the template dropdown Causes:
  • Only approved budgets can be used as templates
  • Budgets in draft or pending status don’t appear
Solution: Contact your finance admin to approve the needed budget

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Validation Errors

Symptoms: Red error messages appear Common errors:
  • “At least one budget line required” → Add lines in Step 3
  • “Account is required” → Select an account for each line
  • “Amount must be greater than 0” → Enter a positive budget amount

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Growth Percentage Not Applied

Symptoms: Copied lines have original amounts Solution:
  1. Return to Step 2
  2. Verify growth percentage is entered
  3. Re-advance to Step 3

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FAQ

Q: Can I edit a budget after creation? A: Yes, navigate to the budget detail page and click “Edit” (if the budget is not locked). Q: What happens if I submit for approval? A: The budget enters the FW-03 approval workflow. Approvers will receive notifications. Q: Can I delete a submitted budget? A: Only draft budgets can be deleted. Submitted budgets must be rejected or withdrawn first. Q: How long are drafts saved? A: Wizard drafts are saved for 30 days in the PF-41 wizard infrastructure.