You can create a new budget with the status ‘Current Baseline’. When you create this, a Working budget version will NOT be created. If it is the first baseline version created then the status will be ‘Current and Original Baseline’.
Moving the Original Baseline flag to another Baselined version
Updating baselined versions is restricted, except for altering the Status. You can only transfer the Original Baseline flag from one version to another using the 'Original Baseline' status. Refer to the example below for clarification.
Baseline Current Working
You can transition a budget from its 'Current Working' version to its 'Current Baseline' version by updating its status to 'Baseline'. See example below. In the example, there's an existing version 12 with a status of 'Current Working'. When its status is changed to 'Baseline', version 12 becomes the 'Current Baseline'. Additionally, a new version, version 13, is generated with the status 'Current Working'.
