Budget management in Microsoft Dynamics Marketing (MDM)

To create a budget, go to Budgeting > Budget Workbooks. Here, you can create the budget for your organization. Click on the '+' symbol to create a new budget workbook.

• Budget could be set-up for a time period or interval - day, month, quarter, week or year. Whatever you select in the 'interval' field would be your default view, if it's a month, you will have to enter the budget amounts month-wise.
• Start and end date: Any expense that falls between the start and end dates (subjects to other conditions like Campaigns, Programs, Company etc.) will reflect in this budget
• The calendar could be a standard Jan-Dec calendar or you could have a fiscal year selected depending on how your organization operates
• You can have multiple worksheets within a Budget workbook. i.e. Budget Workbook > Budget worksheets
• A budget worksheet could also be linked specifically to a Company, Division, Department, Program, Campaign, Event, Job, etc. This will be quite useful for reporting purposes to correctly allocate the relevant expenses to the right budgets.

A budget workbook along with its worksheets could look like this:

Once you set up the budget, we could go ahead and run the campaigns, incur and track expenses, which would in turn get linked to the relevant budget worksheet. I will talk about managing and tracking expenses in my next blog post.