Entering and processing budgets

Now that we have familiarized ourselves with the necessary configurations to use commitment control, we'll now move on to the next stage. In this section, we'll discuss how we can create, transfer, and process budgets.

Entering budget journals

We already saw that the budget ledger in the commitment control ledger group stores the budget amounts. These budget amounts are entered using budget journals. In Chapter 7, PeopleSoft General Ledger Module, we saw how to create journals and post them to the ledger. The process to enter and post budget journals to commitment control ledgers is more or less similar.

Follow this navigation to enter a budget journal:

Commitment Control | Budget Journals | Enter Budget Journals | Budget Header

The following screenshot shows the Budget Header tab of the budget journal:

• Ledger Group: Select the commitment control ledger group that should record the budget amounts. Recall that we specified the CC_COMBO ledger group to business...