Create and Manage Project Budgets
You can set up a Budget for each Project. The Budget is used to plan the Resources that you allocate to a Project. The Budget can be either general with few entries or it can contain more entries that are divided into activity levels. You can then compare the budgeted amounts with the actual usage as recorded in the Project Journal. By monitoring differences between actual usage and budgeted usage, you can control an ongoing Project and improve the quality of future Projects by reducing the risk of underestimating costs. For more information, see: Create a Budget
Budget versions
When creating a Project, the active Budget Version for the Project is defined. You can have an unlimited number of Budget Versions on each Project which allows you to create various scenarios for each Project Budget, however, there can be only one Active Budget Version per Project. The Active Budget Version can be changed at any time. This process adds a new Version available to the highlighted Project.
To use Budget Versions, Budget Versions must first be set up.
Note
Budgets set up in Budget Version are only for use with Projects, not G/L Budgets.
Create new Budget Versions
Budget Versions are created and maintained in the Budget Versions page. All Projects have access to add Budget Versions that are maintained in the Budget Versions page.
- To create a new Budget Version, navigate to the Role Center > Setup > Budget Setup > Budget Versions.
- Select New from the ribbon.
| Field Name | Description |
|---|---|
| Code |
Enter a unique identifier for this Budget Version. |
| Description | Enter information for this Budget Version. |
| In Use | The value in this field is generated by the system to indicate whether this Budget Version is currently used in a Project. If you select the Yes value, a list of all Projects this Budget Version is used in is displayed. |
| Locked | Select the Locked checkbox to restrict access to a Budget Version. This can be helpful to ensure it is not used for entries. |
Used Budget Version
Used Budget Version displays which Budget Versions are active for a specific Project.
Navigate to the Role Center > Projects > Projects >Highlight a Project. From the menu, select Budget > Used Budget Version.
The list of Budget Versions that are used on this Project are displayed. To add additional Budget Versions to use with this Project, see: Add different Budget Versions to a Project using Create/Change Active Budget Version
Field Name Description Budget Version Specifies the Code of the Budget Version used with this Project. Active Budget Version Specifies, if Yes, that the highlighted Budget Version is active. There can be only one Active Budget Version per Project, but the Active Budget Version can be changed at any time. Locked Specifies, if selected (true) that the Budget Version is locked, and it is not possible to edit the Budget. Approval Status Specifies whether the Budget Version is approved or pending approval. If Budget Approval is not required, as determined on the Project Card, then the Approval Status will default to Approved. For more information about Budget Approvals, see: Budget FastTab. Note
There must be Budget Entries created before submitting the new Budget Version for approval.
Once Budget Entries are created for the new Budget Version, to submit for approval, select Submit and click "Yes" to the message "Do you wish to Submit the selected Budget Version for Approval?"
When successfully submitted, you will receive a message "The Budget Version was successfully Submitted".
The Approval Status field displays the current status of the Budget Version, i.e., Approved, 1st Level Pending, 2nd Level Pending, or 3rd Level Pending, depending on how Budget Approvals were configured on the Project Card.
Once the new Budget is approved in Budget Approval, the Approval Status changes to "Approved".
Add Different Budget Versions to a Project using Create/Change Active Budget Version
Budget Versions can be added to Projects from the m Budget Versions list. These Budget Versions are available to all Projects by using Create/Change Active Budget Version. To add or change the Budget Version on a Project:
Navigate to the Role Center > Projects > Projects > Highlight Project No. > Budget > Create/Change Active Budget Version.
Click Yes to the message "Create new budget version?".
Select a Budget Version to add to the Project from the Budget Versions Lookup page.
to create the new Budget Version as a copy of the Active Budget Version, click Yes to the message "Do you want to make a copy of "XXXXX" budget?"
To create a new Budget Version that is blank and can be edited, click "No". By default, the new Budget Version becomes the Active Budget Version for the Project.
To view the new Budget Version, from the Project Card or Project Plan, select Budget > Used Budget Version.
To change the Active Budget, select the Active Budget Version field on the Project Card or Project Plan and make a choice from the list.
The following procedure describes how to estimate budgeted costs during planning. For information about recording budgeted versus actual Project Prices and Costs, see: Record Usage for Projects
Create a Budget
Project Budgets can be entered in several different ways:
| Method | Description |
|---|---|
| Budget Journal |
Use the Budget Journal to either import or manually enter budget data line by line. You can also import Budgets using Excel. |
| Budget Matrix | Use Budget Matrix or Budget Matrix with Capacity to enter units/amounts in a matrix with Tasks and Periods. For more information on using Budget Matrix see: Budget Matrix |
| Copy from Another Project | Use Copy from another Project to create a Budget for a new Project or a new Budget Version for the current Project. |
| Budget Repeating | Use Budget Repeating to create recurring Budget Entries for a Resource, Item or Expense with a given interval. |
| Budget Quote | Create a Budget Quote once a Budget is defined. |
Tip
The Project Statistics Fact Box on the Project Card shows the total budgeted Cost and Price, and the actual Cost and Price amounts after invoicing.
For information about recording budgeted versus actual Project Prices and Costs, see Record Usage for Projects
Tip
For more information on Budgets and using the planning process to create Sales and Purchasing Documents from Budget Planning Lines, see the following help pages: Inventory Budget Reservations or Sales Order/Sales Invoice - Create Usage
Budget Journal
With Budget Journal you can manually create Budget Entries or change an existing Budget. Navigate to the Budget Journal from the Role Center > Journals > Budget Journal.
When you open the Budget Journal, the following options are available:
| Field Name | Description |
|---|---|
| Edit in Excel |
Use this option to download a blank template that includes all fields in the Budget Journal. This can then be completed and imported back in to populate a Budget Journal. To use the Edit in Excel feature, it is required to install the Business Central Add-in for Excel. For information on how to set up the Business Central Add-In for Excel, see: Setting up Business Central Add-in for Excel |
| Post | Posts the Budget changes and makes them active. They do not take effect until posted. |
| Change Budget | Opens the Budget so you can make changes. |
Note
The Budget Journal lines must be empty to use the Change Budget option.
Select Change Budget.
Select Yes to question Change Budget?
The Edit - Change Budget Filter page will open.
Project Filter is required. Select the Project Number for the Budget changes.
Type Filter defaults to All to include Resource, Item, Expense, Scheduled Billing and Resource Group. Optionally, the user can choose one Type.
No. Filter allows the user to select one of the specific Types from a list for the Type (i.e., Resource List).
Budget Version Filter is required and will display a list of all Budget Versions.
Optionally, select Show Entries with WIP
Select OK
Make any changes needed in the Project Budget Journal to any or all of the lines.
Select Post to post the changes. The changes are not active in the Budget until posted.
Caution
When selecting Change Budget, if entries exist in the Budget batch, you can delete them without posting. Click on Delete all lines. Select Yes for the question "Do you want to delete all lines in journal name BUDGET batch name BUDGET?" Only the lines on the page will be deleted. The next question determines if the entries are deleted from the Project Budget. "Do you want to delete retrieved budget entry?" If you do not want the Project Budget Entries deleted, select No. The batch lines will now be empty.
Copy Budget from Another Project
Once a Project is created, you may wish to save time and copy the Budget from another Project. To do this:
Select the Project from the Role Center > Projects > Projects > Budget > Copy from other Project.
Under the Options section, select from the following options:
Field Name Description Copy Budget Specifies, if selected (true) that the Budget should be copied from another Project as the Budget for this Project. Copy Usage To Budget Specifies, if selected (true) that the usage should be copied from another Project as the Budget for this Project. Adjust dates with Specifies if the dates of the existing Budget Entries are to be adjusted as the new Budget entries are created. Enter the formula for the beginning date. The formula is either plus (+) or minus (-) number of time units and unit code (D, WD, W, M, Q or Y) i.e., +6M would add 6 months to the dates of the copy from Budget. - Copy to Budget Version: Specifies the Budget Version in the Project to which the Budget will be copied. - Force copy also when task code is the same: Specifies if the Task is the same as the copied Budget the existing Budget Entries will be overwritten. If not, no Budget information will be copied from a Task that is the same, even if no data exists. - Keep prices from original: Specifies to keep the original Budget prices and not use prices from the Resource, Item or Expenses Price lists. Tip
Each Filter area has additional selections available by clicking +Filter. The filters are used to limit the Budget Entries being copied.
Filter Project (Job) Task Use the fields under Filter Project (Job) Task to filter results by: - Project (Job) - Project Task No. - Description Filter: Project Budget Entries Use the filters under Filter: Project Budget Entries to filter results by: - Type - No. - Resource Group No. - Resource Sub Group No. Filter: Project (Job) Ledger Entry Use the filters under Project (Job) Ledger Entry to filter results by: -Type - No. - Resource Group No. - Resource Sub Group No. - DateTime Adjusted Optional: Select in the Filter Totals By filter > Recognition Date Filter. Specifies that only the Budget Entries, with the Recognition Date entered in this field, will be copied.
Click OK to start the copy process.
Budget Matrix
Use the Budget Matrix to manually create Budget Entries or change an existing Budget. Navigate to the Budget Matrix page from the Role Center > Projects > Projects > Budget > Budget Matrix.
The following options are available:
Basic FastTab
| Field Name | Description |
|---|---|
| Budget Version Filter |
Specifies Budget Version from the list. Select a Budget Version from the list to display or add or modify Budget items to that specific Budget. |
| Type | Specifies the type for Budget. Options: |
| - Resource | |
| - Resource Group | |
| - Expense (total cost) | |
| - Expense (qty) | |
| - Item | |
| - Resource Sub Group | |
| Select a Type from the list to display or add or modify Budget items to that specific Type (see Number field below). | |
| Number | Specifies the Type Number from the lookup list. For example, if Resource is selected as Type, the Number field displays a list of Resource Numbers from which to select. The list changes depending on what value is selected in the Type field. |
| Resource Group No. | Specifies the Resource Group Number from the drop-down list. |
| Resource Sub Group No. | Specifies the Resource Sub Group Number from the lookup list. |
| Work Assignment Action | Specifies how a Work Assignment is affected when a change is made to a Budget Entry. Changes made to Budget Entries that are paired with Work Assignments may be viewed in the Budget Work Assignment Journal prior to posting. |
| - No Update: Specifies that changes made to the Budget will not modify Work Assignments. This action severs the connection between the Budget Entry and the Work Assignment. If another change of any kind is made for this same Budget Entry, the new Budget Entry will not be available in the Work Assignment Journal for posting. This is because the No Update action does not modify the Work Assignment with the new Budget Entry No. Any subsequent changes will not have the Entry Number to identify the Work Assignment to be changed. This includes the actions: Delete, Update Budget Entry No. Only and Modify. To remedy the situation, you will have to delete the original Work Assignment, then add the new Budget Entry. When the Import Budget process is run the Work Assignment will be created from the new Budget Entry. | |
| - Delete: Specifies that when a Budget Entry is deleted, the Work Assignment with the corresponding Budget Entry Number will be deleted. | |
| - Update Budget Entry No. Only: Specifies that changes made to the Budget will only change the Budget Entry Number on the matching Work Assignment. With this setting, if a Budget Entry is deleted, the Work Assignment will get a new Budget Entry Number of zero but the quantity will not be changed and the Work Assignment will not be deleted. | |
| - Modify: Specifies that any change made to a Budget Entry will update the Work Assignment with the same original Budget Entry Number. The Budget Entry and the Work Assignment will be updated with a new Budget Entry Number. |
Note
No action will be taken when a Work Assignment is locked, has a status of completed, or no Work Assignment exists for the Budget Entry – i.e., the Budget Entry is new.
| View by |
Specifies to view the Budget by day, week, month, quarter, year, or accounting period. |
| Show Column Name | Specifies, if yes/true, Budget dates will show as names instead of dates. |
| Show Extra Filters | Specifies, if yes/true, the extra filters tab is displayed. |
| Ignore Filters (only for view) | Specifies, if yes/true, the filters in the Budget Matrix will be ignored. All possible values will be shown. |
| Start Date | Specifies the start date for the Budget. |
Note
For more information on Work Assignments and Budgets, see: Work Assignments and Budget Work Assignment Journal.
Budget Lines FastTab
| Field Name | Description |
|---|---|
| Project Task No. |
Specifies the Project Task Number for the Budget line. |
| Description | Specifies identifying information about the text that defaults from the Project Task Description. |
| Original Budget | Specifies an amount to enter for the Original Budget. |
| ETC Budget | Specifies an amount to enter for the ETC (Estimate to Complete) Budget. |
| EAC Budget | Specifies an amount to enter for the EAC (Estimate at Completion) Budget. |
| Date Columns | The headings in the Date Columns change, depending on the value specified in the View By field in the header. If the View By value is Day, the column headers display a daily value (i.e., 10/6/2022, 10/7/2022). If the View By value is Month, the column headers display monthly values (i.e., Oct 2022, Nov 2022, etc.). This allows you to enter Budgets in these columns for the required date value. |
Print FastTab
| Field Name | Description |
|---|---|
| Resource planning capacity/Budget |
Select to print a report that compares Resource Capacity vs Budget. Report prints Resource No., Resource Name, Capacity, Budget, and Remaining. |
| Resource Planning Budget/Booked | Select to print a report by Resource, of the budgeted versus actuals. The report prints Resource No., Resource Name, Period Start, Period Type, Hours, Resource Booked, and Remaining. |
To add Budget Amounts
- To add a Budget amount, select a Budget from the Budget Version Filter.
- Select the Type to which to add a Budget.
- Select the specific Number for which to add a Budget.
- Select any other filters and select a Start Date for the Budget.
- In the Budget Lines, select a Project Task No. line and enter a Budget amount in the Date columns to the right.
Note
If the associated Project requires approvals for Budget changes, any changes will need to be approved before the Budget amounts are available for processing.
Budget Matrix with Capacity
With the Budget Matrix with Capacity, you can manually create Budget Entries or change an existing Budget, with a view of Resource Capacity. Navigate to the Budget Matrix with Capacity page from the Role Center > Projects > Projects > Budget > Budget Matrix with Capacity.
When you open Budget Matrix with Capacity, the following options are available:
Basic FastTab (with Capacity)
| Field Name | Description |
|---|---|
| Budget Version Filter |
Specifies Budget Version from the list. Select a Budget Version from the list to display or add or modify Budget items to that specific Budget. |
| Type | Specifies the type for Budget. Choices: resource, Resource Group, Expense (total cost), Expense (qty), Item, Resource Sub Group. Select a Type from the list to display or add or modify Budget items to that specific Type (see Number field below). |
| Number | Specifies the Type number from the lookup list. For example, if Resource is selected as Type, the Number field displays a list of Resource numbers from which to select. The list changes depending on what value is selected in the Type field. |
| Resource Group No. | Specifies the Resource Group Number from the drop-down list. |
| Resource Sub Group No. | Specifies the Resource Sub Group Number from the lookup list. |
| View by | Specifies to view the Budget by day, week, month, quarter, year, or accounting period. |
| View by Capacity | Specifies to view the capacity by day, week, month, quarter, year, or accounting period. |
| Show Column Name | Specifies, if yes/true, Budget dates will show as names instead of dates. |
| Show Extra Filters | Specifies, if yes/true, the extra filters tab is displayed. |
| Ignore Filters (only for view) | Specifies, if yes/true, the filters in the Budget Matrix will be ignored. All possible values will be shown. |
| Start Date | : Specifies the beginning Date for the Budget. |
Capacity Filters FastTab
Use the filters in the Capacity Filters FastTab to narrow down the displayed Resources based on the selected filter(s).
| Field Name | Description |
|---|---|
| Start Date |
Specifies the start date for capacity. |
| End Date | Specifies the end date for capacity. |
| Resource Number | Specifies the Number for the Resource from the drop-down list. |
| Resource Group No. | Specifies the Resource Group Number from the drop-down list. |
| Resource Sub Group No. | Specifies the Resource Sub Group Number from the drop-down list. |
| Capacity Show | Specifies to show capacity for Remaining, Budget, Capacity, or Usage. |
Budget Lines
| Field Name | Description |
|---|---|
| Project Task No. |
Specifies the Project Task Number for the Budget line. |
| Description | Specifies identifying information about the text that defaults from the Project Task description. |
| Original Budget | Specifies an amount to enter for the Original Budget. |
| ETC Budget | Specifies an amount to enter for the ETC (Estimate to Complete) Budget. |
| EAC Budget | Specifies an amount to enter for the EAC (Estimate at Completion) Budget. |
| Date Columns | The headings in the Date Columns change, depending on the value specified in the View By field in the header. If the View By value is Day, the column headers display a daily value (i.e., 10/6/2022, 10/7/2022). If the View By value is Month, the column headers display monthly values (i.e., Oct 2022, Nov 2022, etc.). This allows you to enter Budgets in these columns for the required date value. |
Print FastTab (with Capacity)
| Field Name | Description |
|---|---|
| Resource Planning Capacity/Budget |
Select to print a report that compares Resource Capacity vs Budget. Report prints Resource No., Resource Name, Capacity, Budget, and Remaining |
| Resource planning Budget/booked | Select to print a report by Resource, of the budgeted versus actuals. The report prints Resource No., Resource Name, Period Start, Period Type, Hours, Resource Booked, and Remaining. |
Add Budget Amounts
- To add a Budget amount, select a Budget from the Budget Version Filter.
- Select the Type to which to add a Budget.
- Select the specific Number for which to add a Budget.
- Select any other filters and select a Start Date for the Budget.
- In the Budget Lines, select a Project Task No. line and enter a Budget amount in the Date columns to the right.
Note
If the associated Project requires approvals for Budget changes, any changes will need to be approved before the Budget amounts are available for processing.
Budget Journal Hierarchy
If a Budget Journal is manually entered, copied, or imported into the Budget Journal page, then the same hierarchy for Usage entries is used to determine the Unit Cost and Price.
This hierarchy includes assessing the Resource Price and Resource Cost set up on the Project to determine if a specific Price is available. If there is no specific Price, then the system will use the Resource Card or Resource Group set up like the Budget Matrix pages.
Items
Each Item includes a Cost and Price. All methods of Project budgeting use the Cost and Price defined on the Item Card and do not use Project-specific Costs or Prices.
Expenses
Each Expense Code includes a Cost and Price. A Budget Journal Entry uses the Cost and the Price defined for the Project. The Budget Matrix uses the cost from the Project Expense Card, but the Price will use the Expense Price on the Project if it exists.
Create the Budget for a Project by creating entries in a Budget Journal. The system prompts to choose the Project No. and Budget to create. Once this is done, add the desired Budget lines.
Tip
The Edit in Excel option can be used to export a Template with the Budget data and import the Budget.
Navigate to the Role Center > Journals > Budget Journal
Select the Budget Journal .
The Edit in Excel option can be used to export a Template.
Add the Project No., Task Code, Type, and select the No. (will vary, depending on the Type selected - i.e., Resource, Resource Group, Resource Sub Group, Item, or Expense).
Complete remaining fields, such as Quantity, costs, prices, etc. on any Task to create Budgets for those Tasks.
When finished entering Budgets, select More Options > Post.
Budget Repeating
Use Budget Repeating to create recurring Budget Entries for a resource, item, expense, Resource Group or Resource Sub Group with a given interval. The alternate to using Budget Repeating is that you would have to create one Budget Entry on multiple different dates. To access Budget Repeating:
Navigate to the Project Card > Budget > Budget Repeating.
Complete the following fields:
| Field Name | Description |
|---|---|
| Start Date |
Specifies the beginning Date for the repeating Budget Entry. |
| End Date | Specifies the last Date for the repeating Budget Entry. |
| Max No. Of Repetitions | Specifies the Maximum Number of Repetitions for the Budget Repeating entry. |
| Project No. | Specifies the Project Number for the Budget Entry. |
| Task Code | Specifies the Task Code for the repeating Budget Entry. |
| Type | Specifies the type of charge for the Budget being created. This determines how the lines will be priced and costed. Options: |
| Resource | |
| Item | |
| Expense | |
| Resource Group | |
| No. | Specifies the Type Number of the Resource, Resource Group, Expense, or Item to be used on the new line. This lookup will show results based on the Type selected. |
| Unit of Measure Code | Specifies a standard of measurement of a Quantity, such as hours, pieces, days., to be used for the new line created. |
| QTY UOM | Specifies the Quantity for each Unit of Measure. |
| Work Type Code | Specifies a Work Type Code filter for viewing or adding data. This Work Type Code can also affect costing and pricing. |
| Budget Qty per entry | Specifies the Budget Quantity per entry that will be used to determine the Total Cost and Total Price. |
Use the Day, Week or Month FastTab to choose the frequency of the Repeating Budget.
Day
| Field Name | Description |
|---|---|
| For Every No. Of Days |
Specifies how many days apart to repeat the Budget. If the number entered is 3, then every 3 days there will be a Budget Entry for the Type, No. and Budget Quantity selected. |
| Every Weekday (Monday – Friday) | Specifies if the Budget repeats for every weekday Monday to Friday. Weekend days, Saturday and Sunday, will not be included in the 3 days apart for the Budget Entries. If entries start on Thursday, then the entries will be on Thursday, and Tuesday and Friday of the following week. |
Week
| Field Name | Description | |
|---|---|---|
| For Every No. of Weeks |
Specifies every number of weeks to repeat the Budget. Every 1 week would be every week. Selection must then be made as to what day of the week to add the entry. | |
| Monday: Specifies, if selected (true) to repeat the Budget for every Monday. | ||
| Tuesday: Specifies, if selected (true) to repeat the Budget for every Tuesday. | ||
| Wednesday: Specifies, if selected (true) to repeat the Budget for every Wednesday | ||
| Thursday: Specifies, if selected (true) to repeat the Budget for every Thursday. | ||
| Friday: Specifies, if selected (true) to repeat the Budget for every Friday. | ||
| Saturday: Specifies, if selected (true) to repeat the Budget for every Saturday. | ||
| Sunday: Specifies, if selected (true) to repeat the Budget for every Sunday. |
Month
| Field Name | Description |
|---|---|
| Repeat day number in every month |
Specifies the day of each month to repeat the Budget. |
| Repeat what day in every month | Specifies the option to choose first, second, third, fourth or last day of the month. |
| Repeat every X month | Specifies how many months apart to repeat the Budget. Every 1 month would be every month. |
Select Create Budget to complete the Budget Repeating Budget creation.
Project Quote
You can create a Sales Quote for a Project once a Budget has been defined. The Budget can be set up for Resource Groups, Resource Sub Groups, Resource, Items or Expenses and you can generate the Sales Quote that can be printed or sent by email.
To generate the Sales Quote there must be an Invoice Setup created on the Project. The Create Project Quote could then be used to make an order and associate requests and purchase orders against it using standard Business Central functionality.
The Sales Quote generated by Create Project Quote can also be used to generate a Sales Order or a Sales Invoice, but it is more likely that Sales Invoices will originate from activity in the project management functions based on activity and/or Invoice Setup in the Project. To create a Project Quote.
Navigate to the Project list and highlight the Project for which to create the quote.
From the Projects List menu, select Actions > Invoice Setup. If the Sales Quote included Budget entries for Type, Resource Group, change Resource to Resource Group in the Type column. The Resource Group selection will pull both the Resource and the Resource Group entries. Select the format of Detail or various Grouping choices and close the page.
From the Projects List menu, select Actions > Create Project Quote.
On the Create Project Quote page, accept the default Usage Type of All or make changes to limit the entries on the quote.
Select OK to generate the quote and process it.
Modify a Budget
There are different ways you can modify an existing Budget. You can use Budget Matrix or Budget Matrix with Capacity:
- Open the Budget Matrix or Budget Matrix with Capacity page and enter the Type and Number for the entry you want to change and adjust. This modification will update your Budget immediately without additional action.
Note
The Budget Matrix with Capacity allows you to see the budgeted capacity of Resources or Resource Groups by a specified period of time (i.e., day, week, month). You can use the Capacity Filters FastTab to limit the display to specific Resources or Resource Groups for the purpose of building a Budget. The capacity for a resource or Resource Group displays in the Capacity FastTab on the page, based on the entries you add under Capacity Filters. For more information on using Budget Matrix with Capacity see: Budget Matrix with Capacity
Another option to modify a Budget is to select Journals > Budget Journal - [Journal Template Name]: BUDGET > Change Budget. See: Create a Budget
Posting from the Budget Journal page simply updates the Budget with the current journal entries and clears the screen to allow additional entries. If the hours entered related to resource were accurate but your setup has changed regarding the cost or price of that Budget, then use Budget Recalculation to update the Budget Amount. For more information on Budget Recalculation, see Recalculate Budget
Transfer a Budget
Use Transfer Budget Entries to transfer Budget Entries to a new Project or Task.
Navigate to the Role Center > > Projects.
Highlight the Project from which the transfer is being made.
From the menu, select Budget > Transfer Budget Entries.
Move to Project No.: Specifies the value of the Project Number to which the Budget Entry is being moved .
Task Code: Specifies the value of the Task Number to which the Budget Entry is being moved.
Filter: Project Budget Entries:
- Project No.: Enter the Project Number from which the Budget Entries are being moved.
- Budget Version: Enter the Budget Version from which the Budget Entries are being moved.
- Select additional qualifying information as necessary: Task Code, Type No.
Select OK to initiate budge transfer.
Select Yes to message "Transfer Budget Entries".
To move the Budget date
It is possible to move the Budget to a specific date or number of days. This allows you to move the entire Budget or parts of the Budget. When you click Preview the system will generate a report of the Budget records moved along with the new Budget Date.
The Preview shows the new Budget dates that are assigned to the Budget lines. The Preview activates the change, and no additional step is required. The Budget entries now reflect new dates.
Recalculate Budget
To access Recalculate Budget navigate to the Project Card > Actions > Budget > More Budget > Recalculate Budget.
Recalculate Budget makes an update of the Project Budgets if you have changed costs or sales prices for Resources, Items and Expenses after the Budget was created. There is also the option to update chargeability based on the Task setup.
Select Yes to the message 'Update sales/cost and pipeline for No. XXXXX?"
In the Recalculate Budget page, select the option to enable Update chargeability if desired.
Select any filters to narrow results.
Select OK to recalculate Budget.
To Split Resource Group Budget to Individual Resources
You may want to create your Budget based on a Resource Group but do not know the specific Resources that will be used on the Project. After entering a Budget to the Resource Group, you can split the Budget to specific Resources.
To split the Budget, navigate to the Project Card > Actions > Budget > Split Resource Group Budget.
Tip
You can also access Split Resource Group Budget from the Role Center > Projects, Projects. Highlight a Project then select Budget, Split Resource Group Budget.
The section at the bottom of the Edit - Split Resource Group Budget page displays the Resource Group Number and name of the Resource Group, the total number of hours available to be split, and the number of hours that have been split but are not updated on the Project Plan yet.
To filter results further, you can select a Task Code or Currency Code.
Important
If you wish to split ONLY a currency other than LCY when splitting Resource Group Budget hours, you must specify the non-LCY Currency Code in the Currency Code filter above. Otherwise, if left blank, when you specify hours in the Split Budget Lines sub-page, it will consume hours from the LCY Currency, regardless of whether you specify a non-LCY Currency Code in the Split Budget Lines page.
Select Split Budget Lines and highlight a Resource Group to open the Edit - Split Budget Lines page. Complete the following fields:
Field Name Description Date Specifies the Date to start the split Budget. No Specifies the Resource to assign the split hours. Old Task Code It is required to enter a value in the Old Task Code to indicate from where the split will originate. Work Type Code If you do not enter a New Task Code, the hours will remain in the Old Task Code, assigned to the individual Resource. New Task Code Enter the new Task Code to assign the split hours. Description Specifies a unique free-form text identifier for the Split Budget Line. Currency Code Specifies a Currency Code to use for the Split Line Budget. Important
If you wish to split ONLY a currency other than LCY when splitting Resource Group Budget hours, you must first specify the non-LCY Currency Code in the Currency Code filter on the main page of the Edit - Split Resource Group Budget page. Otherwise, if left blank, or if you enter a non-LCY Currency Code in the Split Budget Lines page, it will consume hours from the LCY currency, and not the non-LCY Currency hours.
Quantity Specifies the quantity to split. Unit of Measure Code Specifies the actual units measurement associated with the Quantity. Click Close to return to the Edit - Split Resource Group Budget page.
Select Update Budget to update the changes to the Budget.
The Budget Entries will reflect the split Budget lines action.
Project - Budget Approvals
Projects include the ability to set up Budgets with required approvals for changes or the creation of new Budgets. For more information on setting up Project Budget Approvals, and Budgets, see:
Once a Budget is created and submitted for approval, the approvers can approve or reject the Project Budget on the Budget Approval page found in the Role Center > Activities > Approvals & Activities > Budget Approval.
The Approval process has filters to restrict the Project Budgets that appear in the lower portion of the page. Filters include:
- Start Date
- End Date
- View As (options to select Budgets requiring 1st Layer, 2nd Layer, or 3rd Layer approvals).
- Contract No.
- Project No.
- Customer No.
- Change Order No.
As the filter criteria is selected at the top of the page, the results dynamically update. Use the options at the top of the page to process the Budgets:
| Field Name | Description |
|---|---|
| Approve |
Select this option to approve the selected Budget Version. |
| Reject | Select this option to reject the selected Budget Version. |
| View As | Use the View As field to advance to the next level of approvals (as needed) for 2nd Layer or 3rd Layer. |
G/L Budget Integration
You can create Project Budgets and then update (financial) Budgets in the General Ledger using the G/L Budget Integration feature.
G/L Budget Integration Setup
You can configure G/L Budget Integration Setup using these steps:
Navigate to the Role Center > Setup > Budget Setup > Budget Setup.
Add a Project No.
Select a Status
Select a Budget Version to integrate to the GL Budget.
Select the G/L Budget Code from the list of available G/L Budget Codes as set up in the G/L.
Pipeline
On the Project Card you can define a pipeline with which the Project should influence the G/L Budget. It is only this percentage that is transferred to the G/L Budget. Use Pipelines to define the % likelihood of closing a bid\quote (impacts Budget amounts).
Update G/L Budget
Once the G/L Budget Integration is setup, you can update the G/L Budget based on different criteria on the Project Budget. Use Update G/L Budget to update individual Projects or Projects with a certain status. If no filter is used all Projects are updated. When you run the update process, the pipeline percentage is taken into consideration. If the pipeline percentage is only 80% then 80% of the Budget is integrated back to GL.
Videos
For more information on Budgets, see:
B&R1 - Setting up Budget & Reservations features
B&R2 - Budget & Reservations - Project Card Setup
B&R3 - Setting up Budget & Reservations with Project Wizard
B&R4 - Budgets & Reservations - Creating Job Planning Lines
B&R5 - Budgets & Reservations - Updating Job Planning Lines
B&R6 - Budget & Reservations - Using Job Planning Lines with Purchasing
B&R7 - Budgets & Reservations - Purchase Receipt Posting - Received Not Invoiced
B&R8 - Budgets & Reservations - Purchase Receipt Posting - Usage Cost Option
BR9 - Budgets & Reservations - Purchase Receipt Posting - Inventory Reserved to Project Option
B&R10 - Budget & Reservations - Purchase Receipt Posting - How to Update Costs on Unposted Receipts