Every organizations small or mid sized or large enterprises keep certain budget to manage their businesses or daily activities or simply you keep certain money in mind on how much to spend on every single activities of your business in other words you say budget management. Budget management module is and important module of any ERP system as it helps you in defining and managing your budgets and profits over different activities.
As usual lets take our own GloabTeckz example since we are into projects. When new clients are asking for estimates on OpenERP or Magento implementation. We decide different cost before providing the proposal to the client. Some of them are marketing spending, Project management spending, resources cost, infrastructure cost and so on.
Therefore budget management normally starts when you start planning for the projects. With OpenERP you can easily do effective and efficient planning on how much to spend in a year. Therefore budget management is a another important part of Accounting & financial management. The module or app is integrated with Purchase management, Sales management, timesheets, Project management, Expense.