Raju's Dynamics AX / Dynamics 365 Finance and Operations Blog

Here are 20 lab scenarios to practice the Budgeting module in Microsoft Dynamics 365 for Finance and Operations (D365FO). Each scenario includes step-by-step instructions:

Lab Scenario 1: Creating a Basic Budget

1. Go to “Budgeting” in the D365FO navigation menu.
2. Click “New Budget” to create a new budget.
3. Name the budget and choose the fiscal year.
4. Define budget amounts for various accounts.
5. Save the budget.

Lab Scenario 2: Copying a Budget

1. Select an existing budget you want to copy.
2. Choose the “Copy” option.
3. Specify a new budget name and fiscal year.
4. Review and modify budget amounts if necessary.
5. Save the copied budget.

Lab Scenario 3: Budget Versions

1. Access an existing budget.
2. Create a new version of the budget (e.g., Original Budget, Revised Budget).
3. Adjust budget amounts in the new version.
4. Compare budget versions to track changes.

Lab Scenario 4: Budget Transfers

1. Open a budget version.
2. Initiate a budget transfer to move funds between accounts.
3. Specify source and target accounts and transfer amounts.
4. Save the budget transfer.

Lab Scenario 5: Budget Workflow

1. Start a budget approval workflow.
2. Choose a budget version for approval.
3. Define approval steps, approvers, and notifications.
4. Monitor the approval progress and complete the workflow.

Lab Scenario 6: Budget Allocations

1. Select a budget version.
2. Create a budget allocation rule.
3. Define allocation criteria (e.g., percentage, fixed amount).
4. Apply the allocation rule to distribute budget amounts across accounts.

Lab Scenario 7: Budget Revisions

1. Access a budget version that needs revision.
2. Make necessary adjustments to account budget amounts.
3. Save the revised budget version.

Lab Scenario 8: Budget Control

1. Activate budget control for a budget version.
2. Configure budget control settings, such as budget thresholds.
3. Perform transactions and monitor budget consumption.
4. Prevent transactions that exceed budget limits.

Lab Scenario 9: Budget Reporting

1. Go to “Budget Reports” in the Budgeting module.
2. Select a budget report template (e.g., Budget vs. Actual).
3. Set report parameters (e.g., budget version and date range).
4. Generate and analyze the budget report.

Lab Scenario 10: Budget Consolidation

1. Work with multiple budgets across different legal entities or departments.
2. Consolidate budgets to view a comprehensive financial plan.
3. Adjust consolidation methods and rules as needed.

Lab Scenario 11: Zero-Based Budgeting

1. Create a zero-based budget.
2. Define a budget version with all amounts initially set to zero.
3. Build the budget from scratch by allocating funds to accounts.

Lab Scenario 12: Budgeting for Multiple Departments

1. Manage budgets for multiple departments or cost centers.
2. Set up department-specific budgets within a single budget version.
3. Monitor and track departmental budget performance.

Lab Scenario 13: Capital Budgeting

1. Create a separate capital budget for long-term investments.
2. Allocate budget amounts for capital projects and acquisitions.
3. Track and report on capital budget expenditures.

Lab Scenario 14: Budget Amendments

1. Amend an existing budget version to accommodate unexpected changes.
2. Make adjustments to account budget amounts.
3. Save the amended budget version for approval.

Lab Scenario 15: Budget Carryforward

1. Carry forward an approved budget from one fiscal year to the next.
2. Ensure that existing budget amounts are retained for the new fiscal year.

Lab Scenario 16: Budget Forecasting

1. Create a forecast budget version for future periods.
2. Project anticipated revenue and expenses based on historical data and trends.

Lab Scenario 17: Budget Variance Analysis

1. Compare actual financial data to the approved budget.
2. Identify budget variances and investigate the causes.
3. Create reports or dashboards to visualize variances.

Lab Scenario 18: Budgeting for Grant Management

1. Manage budgets for grant-funded projects or programs.
2. Allocate budget amounts to specific grant accounts and track grant expenses.

Lab Scenario 19: Budgeting for Non-Profit Organizations

1. Configure D365FO to support budgeting for non-profit organizations.
2. Set up program-specific budgets and monitor financial performance.

Lab Scenario 20: Budgeting for Cost Centers

1. Allocate budget amounts to different cost centers or profit centers.
2. Create departmental or business unit budgets within a single budget version.

These lab scenarios provide a comprehensive understanding of the Budgeting module in D365FO. Practicing these scenarios will help you become proficient in budget planning and control within the application.