Advance Budgeting for Finance and Supply Chain is a comprehensive module developed within the framework of Microsoft Dynamics 365 Finance and Supply Chain ERP. This application covers all aspects of departmental budget submission, consolidation of the budget, MIS report forecasting, modification with proper approval, and conversion to budget control and reporting.

Departmental Budget Submission:

Facilitates individual departments in submitting their budget proposals.

Ensures all necessary details and justifications are included.

Consolidation of the Budget:

Aggregates all departmental budgets into a unified organizational budget.

Helps in identifying overlaps, redundancies, and ensuring resource allocation aligns with strategic goals.

MIS Report Forecasting:

Creates Trial Balance, Income Statement and Balance Sheet reports as per the submitted budget

Provides insights into financial trends and potential future expenditures.

Modification with Proper Approval:

Allows for modifications in the budget with a structured approval workflow.

Ensures changes are tracked and authorized by relevant stakeholders.

Conversion to Budget Control:

Transforms approved budgets into actionable budget controls.

Monitors and manages expenditures against the budget in real-time.

Reporting:

Generates comprehensive reports on budget status, variances, and financial performance.

Provides stakeholders with up-to-date information for informed decision-making.

Moreover, the application allows users to easily submit their budgets by referencing the previous year's budget. For any new budget related to a project, the application facilitates project-wise budget allocation. It also provides a consolidated view for the Budget Manager to review and make any necessary amendments. The Budget Manager can check the Trial Balance, Balance Sheet, and Income Statement according to the submitted budgets, aiding in making informed decisions. Once finalized, the Budget Manager can firm the budget into a Budget Register, thereby creating the budget in the system with minimal steps and full automation.

Additionally, after the submission deadline has passed for all departments, the system will automatically block further submissions. Only the Budget Manager will have the authority to make amendments or extend the submission timeline.

The Application Features Includes:

Budget period open for Department submission
Departmental Budget Submission
Consolidated budget review
Amendment in Budget
Impact Analysis of Submitted budget on TB, IS & BS
Auto Budget register creation on the amendment value
Blocking Budget Submission after submission expiry

Advance Budgeting for D365 Finance & Supply Chain

by The Solution Consulting FZCO