Define multiple Budgets

 Dear Team,

We have three type of budgets in the business and going to define same in the system for the new year.

Two reporting budget - budget period status as ''Open''

One Actual budget which status as ''Current'' 

Please advise,

1- Define multiple budgets in the system will have any issue on budgetary control  and encumbrances.

2- Is it possible to check variance through FSG 

Thanks

Mushtaq