Child budgets are created to allow managers to be assigned portions of a budget - as they may only need to oversee an individual area. These child budgets effect the higher level root budget. Child budgets allow managers to watch their own numbers, while the actual costs collected for projects can be rolled up for budget reporting for higher level decision makers.
The manager assigned to a child budget may run reports on child projects that are beneath his budget.
To set up a child budget
1. Enter the budget area (authorizations are necessary)
2. Select the root budget you would like as a main budget.
3. Select the fourth icon over the left hand margin, the dollar sign with a plus (add child budget icon)
4. This will load the new budget window so a new child budget can be created. The two budgets will be linked after the second budget is created.
If the budget you would like to link as a child budget already exists:
Select the budget to be the parent budget from the budget tree
Select the 6th icon over the budget tree ( Computer to computer with arrow at right angle) This will prompt a message to select the budget or project you would like to be the child budget. By selecting the child budget the two will be linked together.
5. Now you can attach child projects to the child budget. These projects will report either to the child budget, or roll through and up the hierarchy to the root budgets.