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Budgets that are used for budgetary control cannot be upgraded into financial plan.
However, you may have separate budget types for the same projects, and those would be upgraded into Financial Plans.
You can also upgrade the projects themselves into Project Management, without upgrading any of their budgets.
You will be able to generate new financial plans when you are on Project Management, while keeping the old budgets for the same projects, if you still need the functionality of budgetary control.
Hi Dina/ Dean
First of all thanks so much for responding to my question and ur contribution to this forums.
For Ur Info = When customer insisted much on this to oracle about upgrade of budget, oracle has provided one patch which helped us upgrading bdget to fin pln which has budgetary controls enable on them. ..
The patch is nothing doing great but disabling the flag from the table which in turns enabling the budget types to be upgraded to financial plans very smoothly. Once updgraded, the budgets values are easily available in financial plans for reporting and further processing.
In this org, Customer is not using budgetory control functionality but in another org they are using it.
What I have learn in this situation is had it been all the budget types been upgraded first and later use in budgetory control, this situation would not have been arrived.