Plans and cost centers

Start a plan for one organization and one planning term. Enter each cost center as a plan line with its spend category, quantity and unit rate. The line amount and plan total give the planner a common basis for review. Actual amount on the line keeps the later comparison tied to the same cost center.

A plan has a named owner, organization, type, version and dated term. Its cost center lines carry spend category, quantity, unit rate and recorded actual amount. Keep the plan number with every line during import so the rolled-up plan amount and actual amount can be checked against the intended budget or forecast.

• Plan owner. FP&A Planner sets the organization, term, type and version on the plan.
• Line detail. The planner records each cost center, category, quantity, rate and actual amount.
• Review point. Finance Leader reads the lines and totals for the exact version submitted.

The planner chooses Budget or Forecast, a fiscal year, period start and end, and a version. Before the first review, agree how cost centers and GL accounts are named, who owns each plan, and which actual amounts are available for the pilot.

Agree one spelling for each cost center and GL account before loading plan lines. Keep the original plan number and version when importing. The planner should compare the line amount with quantity and rate, then check the plan totals against its lines. Finance Leader needs the same period and version when reviewing the submitted plan.

Use a Software line for one cost center. Compare its quantity and rate with the amount shown on the line. Add an actual amount, inspect the resulting variance, and then open the plan total. The Finance Leader should be able to see which line needs an explanation before deciding on the plan.

Have FP&A Planner open the same plan through My Plans and check its line amount, actual amount and variance. Finance Leader should find that plan by its number and version, inspect the Software line and explain the difference before the approval decision. If totals differ, correct the line or its plan reference before submitting the plan.

• My Plans — Shows plans assigned to the planner with their period and status.
• Plan Period Schedule — Places each plan start and end date beside its owner and status.

See the related process for the operating sequence. Use the data model to check references before importing records and roles to agree who can act.