Organizations demand a system to budget and report their expenses by accounts and segments. After the budget approval, all expenses will require validation against the budget to prevent over-spending. According to the issue, SuiteApp introduces The Expense Commitments and Budget Validation which enables users to:

• Create budgets for specific account, segment, and period combinations.
• Validate the purchase orders, purchase request, and vendor bills against the budget.

What’s on the plate?

The SuiteApp Expense Commitments and Budget Validation provides the following features:

• Provision to budget for accounting periods. Such provision is useful in cases such as multiyear grant budgeting.
• Maintain multiple versions of a budget for the same period.
• Ability to set warnings when budgets exceed the account and segment combination.

Requirements and Setup for Expense Commitments and Budget Validation

The Expense Commitments and Budget Validation SuiteApp is developed and tested for use primarily with NetSuite OneWorld. For more information about NetSuite OneWorld, read Introduction to NetSuite OneWorld. You can install the Expense Commitments and Budget Validation SuiteApp from the SuiteApp Marketplace.

The SuiteApp requires the Advanced Financials module enabled in your account. However, after the fulfilment of the Pre-Installation requirements, Expense Commitments and Budget Validation is originally a managed SuiteApp that automatically updates whenever enhancements or new features are added, so the future manual updates checking will not be needed.

Roles and Permissions

To use the Expense Commitments and Budget Validation SuiteApp, your account must have the following permissions:

Set up the SuiteApp in the following order:

• Create saved search for budget validation.
• Add user-defined custom segments to transaction columns and custom budget.
• Create saved search for budget control.
• Create a budget control.
• Set budget preferences.