What does the term budgeting mean?
Budgeting finds its use to set up, create, and view budgets. Budgeting includes budget control, which one can use so as to monitor the budget funds available for planned and actual purchases and expenditures. Additionally, one can generate budget register entries for the original budget, budget transfers, and revisions. One can also create budget register entries for encumbrances and pre-encumbrances for purchases and planned expenditures. Moreover, budget register entries are automatically generated when budgets are transferred to the general ledger from other modules, like Project management and accounting or Fixed assets.