In AX 2012 R3 CU10, Project Management and Accounting allows the creation of Funding Limits and Funding Rules under the Project Contract. With these Limits and Rules, the system will try to allocate to these rules.
Project Budgets require workflow to be able to create new budgets. With some businesses, this is not necessary to have each budget reviewed before allowing them to be approved. Especially if those with the responsibility to put in the Project Budget has the final say on the Budget regardless.
