Reviewing the Budget Glossary

This is a group of expense types used to manage budgets.

This is the currency for a budget item. Budget Items are always displayed in their budget currency, which takes precedence over the currency setting in Profile Settings.

Spending items are converted to the budget currency based on the submission date of the invoice/expense date. The currencies of actual invoices, purchase requests, expense reports, or authorization requests are not converted.

This is the annual budget, including the fiscal year, budget owner, budget name, and description.

This is part of the Budget Item. The budget periods can be set as monthly, quarterly, or custom-set periods. Based on the Period Type, the Budget Item can have one or more budget periods.

Each budget period is associated with a fiscal period, and has a budget amount for that fiscal period and budget item.

Budget tracking fields are copies of the custom fields defined in Product Settings. If a new budget tracking field is required, an administrator can add a custom field in Product Settings, which will automatically create a corresponding budget tracking field with the same name in Budget Configuration.

The budget tracking fields appear in the Budget Tracking Fields (Optional) tab in Budget Items, where you can specify a value to associate with a budget item.

A manager hierarchy consists of the managers users report to, either directly or indirectly. If a user or an admin has assigned a budget manager to a budget item, then spending items will be matched to the Budget Item if the submitter of the spending items reports to one of the managers listed in the Filter by Managers (optional) tab of the Budget Item.

Managers listed in the Filter by Managers (optional) tab must have the Budget Approver/Manager role.

Expense reports, invoices, purchase requests, and requests can be matched to one or more budget items. The matching criteria are as follows:

• When an expense type of a line item or allocation matches a budget category of a budget item.

• When the submitter of the invoice, purchase request, expense report, or authorization request reports to one of the budget approvers listed in a manager hierarchy of a budget item.
• When an Expense Report Transaction Date, Purchase Request Date, Payment Request Invoice Date, or Authorization Request End Date falls into a fiscal period that is associated with a budget period.

Each budget item has a period type. The period type determines the level of control of a budget item. Admins can select yearly, quarterly, or monthly.

This is a specific item that consumes a portion of a budget, such as an expense allocation, expense item, invoice allocation, invoice line item, purchase request allocation, purchase request line item, request expected expense, or request segment.

A spending item can reference one or more budget items.