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Setting up Budgets

Setting up Budget helps track Salary Expenditure by Department, in-line with the Budget for that Department.
Budgets Link to Departments and have Start Date and End Dates. Budgets contain 3 main items. Current Budget Expenditure (Addition of all Salaries for people in that Department + Bonuses for the period). Budget Amount. Remainder (Difference between the Budget Amount and Current Budget Expenditure. This information is used in Remuneration Modelling to show Increase and Decreases in data inline with Budgets.

Adding Budgets

  1. After logging into the Subscribe-HR HCM Platform, select "HUMAN RESOURCES" on the left hand side from the navigation area.
  2. Click on the Budget folder.
  3. Select the "Create New" button.
  4. Enter the Start Date for the Budget
  5. Enter the End Date of the Budget if this Benefit is only offered for a limited period of time.
  6. Enter the Budget Amount for the Period. This Amount will be compared to the Current Budget Expenditure (All Salaries and Bonuses + Training Spend for Attendees based on their Department. This cost is based on the Attendee Cost which is outlined for an Event.)
  7. Current Budget Expenditure. This amount would be shown, as a Sum of all Salary and Bonus costs for that period. Auto Calculation.
  8. Remainder will show if there is any data relating to the Budget Amount and Expenditure.

Field Name Description
Budget Name Name of the Budget in text
Start Date Period for the Budget for that Department
End Date End Date of the Period for the Budget for that Department
Department Select a single Department which this budget belongs to. Import for the Remuneration Modelling Tool, so it can allocate budget to people who are in the Department.
Budget Amount Amount allocated to the Budget for that Department
Current Budget Expenditure Auto calculated field which shows addition of all Salaries and Bonuses for the people in the Department for that period. Also shown in the Remuneration Modelling Tool.
Remainder Different between the Budget Amount and the Expenditure - Based on All Salaries and Bonuses
Attachments Link Documents

Fields marked in bold are mandatory and must be filled in before the benefit can be saved

To see information relating to the Remuneration Modelling Tool: Remuneration Modelling

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