Budget categories are available when the Multiple Budgets feature is enabled. Multiple Budgets are on the Enable Feature page at Setup > Company > Setup Tasks > Enable Features. The feature is on the accounting subtab under Advanced Features. An administrator must enable the feature.
After the Multiple Budgets feature is enabled, each budget you set up must be assigned a category. Budget category values allow differentiation between budgets for which other criteria, such as Item, Customer or Project, Class, Department, or Location, are identical.
In NetSuite OneWorld, with the Multiple Budgets and Multiple Currencies features enabled, each budget category has a budget category type of global or local. This type determines the currency NetSuite uses for a subsidiary’s budget and actual amounts.