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Budget management
Published On Jun 13, 2024 - 12:12 PM

Budget management

Learn about the Budget services feature, which is intended to assist financial analysts and billing analysts in creating budgetary units and their associated budgets in Kyndryl Modern Operations Applications.
In the Kyndryl Modern Operations Applications, budgets are the amount that you set aside during a specific period for service offerings and allow you to have greater control of your costs across the entire application. These budgets help you track how much money you have spent, and how much is pending.
Budgets are organized into groups, called Budgetary Units, and help you keep track of financial outlays and maintain financial control of the services that your customers provision.

Budget management access

To access Budget management, you must have either budget administrator or budget viewer roles, which allow you to perform the following:
  • Budget administrator:
     has default read and write access on all budget components.
  • Budget viewer:
     has read only access on budget operations
Budgetary Units are used to associate budgets with specific departments, environments and teams using access groups or access tags. You can have multiple active budgets at a time, but they should not overlap into budget periods.
Budgets in Budgetary Units provide you greater control of your costs across the entire application.
Budget Management involves a large number of budget terms, therefore, a glossary of budget related terms is provided so you have a point of reference when a need to clarify a term arises.
The Budget Management dashboard in the Kyndryl Modern Operations Applications includes the following two tabs:
Budgetary Units
 and
Budget Policies
.

Budgetary units

The Budgetary Units tab allows you to add new budgetary units, view the current status of your budgetary units, and filter your budgetary units by status whether active or inactive.
The budgetary units tab shows a table that includes the following items:
  • Name:
     The name of the budgetary unit.
  • Budgetary unit identifier:
    Insert here the budget identifier.
  • External Reference ID:
    Insert here any external budget reference ID you may have.
  • Budget Term:
    The budget term can be monthly, quarterly, semi-annual, annual, biennial or custom.
  • Status:
    The status of the budgetary unit, either Active or Inactive.
To toggle between ascending and descending alphanumeric order for all columns, click the sort icon next to the column name header.
You can filter Budgetary units by using Filter by, which provides the following two options:
  • Budget Term:
     The budget term can be monthly, quarterly, semi-annual, annual, biennial or custom.
  • Status:
     Either active or inactive.
The
Filter by
 option allows you to select one or all of the budgetary units by clicking the checkbox(es) next to the name of the budgetary unit(s). By selecting the unit(s), you can delete it or them. Click
Cancel
 if you selected but do not want to delete the unit(s).
At the bottom of the table, you can select the amount of items to view per page: 10, 20, 30, 40 or 50. You can also click the right and left arrows to look at different pages.
The table also includes a search bar at the top and a configuration button that allows you to select the columns you would like the table to display. This configuration button is called
Add New Budgetary Unit
, which allows you to create new budgetary units, and provides the following options:
  • Name:
     Enter here the name for the new budgetary unit.
  • Budgetary Unit Identifier:
     Insert here the budget identifier.
  • Description (Optional):
     Enter any description for the budgetary unit.
  • External Reference ID (optional):
     Insert here any external budget reference ID you may have.
  • Budget Term:
     The term of the budget: monthly, quarterly, semi-annual, annual, biennial and custom.
  • Status:
    The status of the budgetary unit, whether Active or Inactive.

Associate access tags

The option to
Associate access tags
 allows you to restrict the operations on budget with respect to specified access tags.
You have two drop-down menus to make your selections, as follows:
  • Access tag name:
     Select the tag name to be associated.
  • Access tag value:
     Select the tag value to be associated.
Next to these drop-down menus, there is a
Reset
 button that you can click to clear your selections.
Below these drop-down menus, you can also click the
Add access tag
 button to add another key end value.
After you have made your selections, you must click
Save & Close
 or
Save & Define
Budgets
. If you want to clear your selections, click
Cancel.
To view the details of each budgetary unit created, click the
overflow menu
 to the right side of each line and then select
View Details
. The application responds by opening a new window that displays the following two tabs:
  • Details
  • Budgets

Details tab

The details tab shows the general information of the budgetary unit, including the business entities it is associated with, the name, budgetary unit identifier, description, budget term and status. You can also
Edit
or
Delete
 the budgetary unit.
The Budgetary unit can be edited or deleted, yet the Edit option is not available if Budget is in Active status.

Budgets tab

The Budgets tab provides a table view of your budgets where you can see the budgets for all providers listed.
The Budgets table view provides the following information for all your budgets:
  • Name:
    The budget name.
  • Budget Amount:
    Sum of the Monthly Accounted Amount for each of the months in the entire budget period
  • Budget Period:
    Period for which the budget is being defined.
  • Available Amount:
    The remaining available budget amount.
  • Actual Charges:
     Charges applied during the budget term. It is the sum of all the charges for all the months in a budget term for a budget.
  • Committed Amount:
    Budget Amount which has been Committed for the entire budget for a given budget Term.
  • Status:
    The budget status, whether Active or Inactive.
  • Under Approval Amount:
     Budget Amount which is under Under Approval/Authorization for the entire budget for a given budget term.
  • External Reference ID:
    Enter the external reference ID for the budget.
The table view provides a filter at the top of it, which you can use to filter budgets by status, whether Active or Inactive.
To toggle between ascending and descending alphanumeric order for all columns, click the sort icon next to the column name header.
The table view lets you select the amount of pricing policies you want to view at a time, for which purpose you click the
Chevron down
 icon at the bottom of the table, next to
Items per page
.Then, you can filter the table and select to view 10, 20, 30, 40 or 50 items per page.
You can also click the arrows at the bottom of the table to display more pages if there were more than one.
The table view provides a
Search
 bar for you to enter the budget name you want to find. It also provides a
Settings
 icon that you can click to display the list of editable columns. Then, you can click the checkbox(es) of the columns you want to show in the budget table. You can select as many as you want at a time.
The following are the editable columns presented in the
Settings
 option. For a definition of each term, go to the glossary of budget terms, in this document.
  • Name
  • Budget Amount
  • Budget Period
  • Available Amount
  • Actual Charges
  • Committed Amount
  • Status
  • Under Approval Amount
  • External Reference ID
To view the details about each budget, click the overflow menu vertical to the right of each line, and select
View Details
. A new window opens that presents the following two tabs:
  • Details
  • History
The following are the details presented in the
Details
 tab. For a definition of each term, go to the Glossary of budget terms:
  • Name
  • External Reference ID
  • Status
  • Term
  • Currency
  • Budget Amount
  • Available Amount
  • Under Approval Amount
  • Committed Amount
  • Actual Charges
  • Start Period
  • End Period
  • Soft Quota Status
  • Hard Quota Status
To the right side of the screen, there are two buttons:
Edit
and
Delete.
Click
Edit
if you want to make changes to the budget details, or
Delete
, if you want to delete the budget.
To the bottom of the screen, you have
Save
 and
Back
 buttons. Click
Save
 to save all the changes you made, or
Back
 to go back to the previous screen.
The details in the History tab are presented in a table view and are the following:
  • Date:
    The date and time when the budget was created.
  • Type:
    The report type.
  • Description:
    The budget description.
  • Source:
    User who has acted on this budget.
  • Transaction ID:
    The transaction ID.
The History tab table view provides a
Search
 bar for you to enter the budget name you want to find. It also provides a
Settings
 icon that you can click to display the list of editable columns. Then, you can click the checkbox(es) of the columns you want to show in the budget table. You can select as many as you want at a time. The editable columns presented in the
Settings
 option are the following:
  • Date:
     The date of the transaction.
  • Type:
    The transaction type.
  • Description:
    The description of the budget transaction.
  • Source:
    User who has acted on this budget.
  • Transaction ID:
    The transaction ID.
  • Budget Amount:
    Sum of the Monthly Accounted Amount for each of the months in the entire budget period.
  • Available Amount:
    The remaining available budget amount.
  • Actual Charges:
    Charges applied during the budget term. It is the sum of all the charges for all the months in a budget term for a budget.
  • Under Approval Amount:
     Budget Amount which is under Under Approval/Authorization for the entire budget for a given budget term.
  • Committed Amount:
    Budget Amount which has been Committed for the entire budget for a given budget term.
The table table view lets you select the amount of pricing policies you want to view at a time, for which purpose you click the
Chevron down
 icon at the bottom of the table, next to
Items per page
.Then, you can filter the table and select to view 10, 20, 30, 40 or 50 items per page.
You can also click the arrows at the bottom of the table to display more pages if there were more than one.
For details on how to add a budget and a budget set, and all the information related to budget policies, see Budgets, budget policies and budget sets.

Glossary of budget terms

Refer to the following list of terms and definitions related to budgets to have a better understanding of them:
  • Actual Charges:
     Charges applied during the budget term. It is the sum of all the charges for all the months in a budget term for a budget.
  • Budget Amount:
     The amount set for a budget for the given budget term for a budgetary unit.
  • Available Amount-Budget Amount:
     (Sum of the Monthly Accounted Amount for each of the months in the entire budget period).
  • Budgetary Unit:
     A representational business context to define budgets, for example: Defining budget for an environment, or for an organization or for an application or a combination of these.
  • Budgetary Unit Identifier:
     It is the unique identifier for the Budgetary Unit.
  • Budget Period:
     Period for which the Budget is defined for a given budget term.
  • Budget Term:
     Period for which the budget is being defined. The budget term can be monthly, quarterly, semi-annual, annual, biennial, or custom.
  • Commit Amount:
     Budget Amount which has been Committed for the entire budget for a given budget Term.
  • Currency:
     It refers to the corporate currency of the tenant that is used to define budget.
  • End Period:
     The end period for a given budget term.
  • Hard Quota Status:
     Higher watermark indicator of the Available budget, Applications using Budget management can use the indicator to define its business process.
  • Soft Quota Status:
     Lower watermark indicator of the Available budget, Applications using Budget management can use indicator to define its business process.
  • Status:
     The status of the budget, usually Active or Inactive.
  • Start Period:
     Start Period for a given budget term.
  • Under Approval Amount:
     Budget Amount which is under Under Approval/Authorization for the entire budget for a given budget term.
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