Budget Details page is available for the Budget Process Owner and Budget Contributor (Cost Centre Owner). Here, you can create the budget item at monthly level and see the budget details of a particular budget which is created from the Budget Management screen. You can create budget items by importing a budget file or adding a budget line by line. For information on how to create the budget, refer the Create a Budget page.
This page shows the Cost Center, Account, Vendor and other details associated with the budget. You can turn on the Show Detailed View toggle button to view all the budget data.
Budget and forecast column explanation
Budget
Column name
Description
Group
Shows how the budget table is organized. You can group budget or forecast data using different fields (for example, Cost Center, Account, or Vendor).
By default, the table is grouped by Cost Center.
Account
Displays the account name linked to each budget item.
Vendor
Shows the vendor name associated with the budget item.
Assumption
Used to capture any assumptions made while creating or adjusting the budget item (for example, expected usage changes or contract assumptions).
Notes
Used to add additional comments or explanations related to the budget item.
Baseline
Represents the previous year’s budget when data is loaded from Cost Transparency (CT), allowing you to compare current budget with last year’s budget.
If baseline data is available from CT, it will be displayed in Baseline column.
If not, the value defaults to zero.
Forecast
Represents the previous year’s forecast when data is pulled from CT, allowing you to compare the current budget with the previous forecast.
Shown if the forecast data is available.
Otherwise, the value defaults to zero.
Latest Budget
The total budget amount for the current forecast, calculated by summing the values from January through December that you have entered or updated.
Latest vs Baseline
Shows how the current budget compares to the baseline.
Positive value: Budget has increased compared to the baseline.
Negative value: Budget has decreased compared to the baseline.
Calculation: Latest Budget−Baseline
Latest vs Previous
Shows how the current budget compares to the previous forecast.
Positive value: Budget is higher than the previous forecast.
Negative value: Budget is lower than the previous forecast.
Calculation: Latest Budget − Forecast
Expense Type
Indicates whether the budget item is classified as:
CapEx (Capital Expenditure), or
OpEx (Operational Expenditure)
Forecast
Column name
Description
Group
Shows how the forecast table is organized. You can group forecast data using different fields (for example, Cost Center, Account, or Vendor).
By default, the table is grouped by Cost Center.
Account
Displays the account name linked to each forecast item.
Vendor
Shows the vendor name associated with the forecast item.
Assumption
Used to capture any assumptions made while creating or adjusting the forecast item (for example, expected usage changes or contract assumptions).
Notes
Used to add additional comments or explanations related to the forecast item.
Baseline
When forecast data is loaded from CT:
If an existing forecast has already been moved into CT, that value is used as the baseline.
If no forecast is available, the budget for that year is used as the baseline.
If the forecast is not loaded from CT, the baseline value is zero.
Previous Forecast
Displays the previous forecast amount used for comparison.
When data is loaded from CT:
If an earlier forecast exists and has been moved into CT, that value is shown here.
Otherwise, the budget for that year is used.
If not loaded from CT, the value defaults to zero.
YTD Spend
Shows the Year-to-Date spend, calculated as the sum of CT spend for locked months.
Locked months automatically reflect actual spend pulled from CT.
Locked months cannot be edited.
Remaining Forecast
Represents the portion of the previous forecast that is remaining after accounting for YTD spend.
Calculation: Previous Forecast − YTD Spend
Latest Forecast
The total forecast amount for the current cycle, calculated as the sum of the January through December values that you have updated.
Latest vs Baseline
Shows how the current forecast compares to the baseline.
Positive value: Forecast has increased compared to the baseline.
Negative value: Forecast has decreased compared to the baseline.
Calculation: Latest Forecast−Baseline
Latest vs Previous
Shows how the latest forecast compares to the previous forecast.
Positive value: Forecast is higher than the previous forecast.
Negative value: Forecast is lower than the previous forecast.
Calculation: Latest Forecast − Previous Forecast
Access to the Budget Details page
Depending on the role, both Budget Process Owner and Budget Contributor have different views on the Budget Details page.
Budget Process Owner View
The Budget Process Owner role can create the new budget on this page. Initially, the user can see the empty page with a message Start Creating Your Budget Now.
Click on the IMPORT FILE button to import all the budget data at once or click on the + NEW BUDGET ITEM button to add individual line items.
After creating the budget items, edit or delete the budget. The page also provides a commenting feature on the budget. After finalizing the budget details, you can submit and send it to the Budget Contributor (Cost Center Owner) for the approval. For more information on budget workflow, refer the Manage the Budget Workflow page. You can also cancel or reset the budget by clicking on the three dots menu.
Once the budget got approved by the Budget Process Owner, it can be published to into YäRKEN Cost Transparency dashboard. For more information on how to publish the budget, refer the Publish the Budget page.
Note: You cannot reset the budget once it is submitted.
Budget Contributor View
The Budget Contributor can access the budget details page via Planning > Cost Center Budgets after the budget has been generated and submitted by the Budget Process Owner. By clicking the budget name on the Budget Management page, users can see the budget items based on the Cost Center assigned to them.
The Budget Contributors can add budget items, edit, delete, or reset the budget. They may also import, extract, and submit the completed budget item to the Budget Process Owner. For more information on budget collaboration, refer the Collaborate to finalize the Budget page.
Once the Budget Contributor updates and submits the budget, the Budget Process Owner can either reject or approve it.
