Overview
This article serves as a step-by-step guide on how to claim available budget adjustment IDs in Task List 3 of Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS).
Prerequisites
Access to Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS) is required to use the Budget Adjustment Module. If EPBCS access is needed, please reference, KB0035018: How to Request Access to Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS) for instructions.
Before you make any budget adjustments, you will need to identify where your available resources are for a transfer. To do this, first open Task 4.1 to locate available Resource Budgets and make note of the relevant Financial Unit, Fund, Function and Account Code. If no resources exist to transfer, then the transfer should not continue as it would result in a deficit budget. For more information, visit KB0035510: How to Use Task 4.1 to View Core Recurring Budget Resources by Account Code.
Essential Information
Oracle Planning and Budgeting Task List 3 is a transactional budget module for entering and processing recurring resource budget adjustments. This module enables continuous adjustments to the open budget year plan, supporting year-round management of the Core Recurring budget. Task 3.1 displays a list of available budget adjustment IDs, and claiming one is the first step to creating a budget adjustment.
Definitions
Budget Adjustment Source: Refers to the chart string elements from which the budget adjustment originates. Typically, the source chart string would transfer resource budget out to another unit (the destination).
Budget Adjustment Destination: Refers to the chart elements that receive the budget adjustments. Typically the destination chart elements will have additional budget resources added to their budget.
Budget Adjustment ID: Unique identifier for each Budget Adjustment record. These are claimed on Task 3.1 according to the corresponding SOURCE point of view selection for Financial Unit, Fund, and Function.
Adjustment Account: A select few resource accounts are relevant for the core recurring budget in EPBCS. The Account Codes available for the transfer of resources are:
- 774960: Recurring Non Compensation Xfr
- 774961: Recurring Staff Salaries Xfr
- 774962: Recurring Staff Benefits Xfr
- 774963: Recurring Faculty Salaries Xfr
- 774964: Recurring Faculty Benefits Xfr
- 774965: Recurring ICR Xfr
Before you make any budget adjustments, you will need to identify where your available resources are for a transfer. To do this, first open Task 4.1 to locate available Resource Budgets and make note of the relevant Financial Unit, Fund, Function and Account Code. If no resources exist to transfer, then the transfer should not continue as it would result in a deficit budget.
Next Steps
1. On the Oracle Planning & Budgeting home screen, click on the Tasks tile
2. Expand caret to see list of tasks under 3 - Create and Manage Core Recurring Budget Adjustments
3. Click on Task 3.1 Claim Budget Adjustment IDs - SELECT SOURCE POV to open the form
4. Confirm that the appropriate planning year is reflected in the POV
5. If necessary, update the Financial Unit, Fund and Function in the POV to correspond with the SOURCE of the budget adjustment
6. If you made changes, click on the Go Arrow that appears to load your updated POV
7. Click in a cell within the column titled Claim Adjustment. In the right side of the selected cell, click the dropdown arrow that appears and select Claim Adjustment ID
8. Ensure the POV selections reflect the source side of your intended budget adjustment and click Save in the upper-right corner of the form
9. A success message appears in a pop-up window. Click OK to close it
Once you have successfully claimed a budget adjustment ID, you can proceed to Task 3.2 Enter Budget Adjustment Details. Please visit KB0035511: Enter Budget Adjustment Details in Task 3.2 for more information.
Additional Guidance
Q: How does a budget adjustment differ from an OFC Journal to transfer resources?
A: A financial journal does not update the budget, and entries in the Budget Adjustment Module do not impact current year resources on the General Ledger. When transferring one-time resources, an OFC journal is sufficient for the current year's financial transactions. However, to impact your recurring budget, a budget adjustment record must also be entered in EPBCS.
Q: How can you claim more than one budget adjustment ID at a time?
A: Before saving, claim multiple IDs (as long as they correspond to the same source chart elements) by dragging down from the initial cell you claimed