Budget modifications
Making changes to a budget which is in the Open status. Budget modifications can be done with either the Budget change or Budget transfer option. Budget change is for changes on the same budget. Budget transfer is for transferring amounts from one budget to another.
The change or transfer should be approved by authorized personnel. After the approval, the budget is updated automatically.
Budget modifications can have the following statuses: Initial, Approval requested or Approved/Rejected statuses.
• Budget amounts can be modified only in the Initial status.
• A budget modification can be approved only when the involved budget(s) is in the Open status.
• For a budget transfer, both source budget and destination budget should be in the Active status.
• There can only be one change or transfer at a time for a budget.
• Deleting budget changes/transfers is not possible once the change moves out of the Initial status.
• Any changes on budget modifications can be registered as budget modification history.