A client is using the budget planning process in Dynamics 365 Finance.
Your client requires the ability to plan for a one-year, three-year, and five year-budget.
You need to configure the various year length options to be used in the budgeting module.
What should you do?
Click on the arrows to vote for the correct answer
A. B. C. D.B.
To enable the ability to plan for different year-length budgets, we need to configure the budget cycles in Dynamics 365 Finance. Therefore, the correct answer is C. Configure budget cycles.
Budget cycles in Dynamics 365 Finance are used to define the period for which a budget plan will be created. By default, Dynamics 365 Finance provides a 12-month budget cycle. However, you can create additional budget cycles to meet specific business needs, including the ability to plan for a one-year, three-year, and five-year budget.
To configure budget cycles, follow these steps:
Go to General ledger > Budgeting > Budget cycles.
Click on New to create a new budget cycle.
Enter a unique identifier and name for the budget cycle.
Select the start and end dates for the budget cycle.
Choose the frequency of the budget cycle, either monthly or yearly.
Enter the number of periods for the budget cycle. For example, if creating a three-year budget, you would enter 36 for monthly frequency or 3 for yearly frequency.
Save the budget cycle.
Once the budget cycle has been created, it can be used in the budget planning process to create a budget plan for the desired year length. By creating multiple budget cycles with different start and end dates and frequencies, you can enable the ability to plan for a variety of year-length budgets.