Overview
The Budget Change Financial Approval Workflow feature allows you to assign approvers and reviewers with specific approval limits for budget changes. Unlike other modules, budget changes can now be routed based on Net, Gross, or Cumulative amounts. This provides flexibility and ensures that the right people approve changes depending on how they affect the budget.
Key Concepts
Net - The increase to the overall budget total caused by the budget change.
Gross - The total amount being transferred between cost codes (increase + decrease combined).
Cumulative- the total impact, including all previous budget changes, not just the current one.
Example: If you have three pending budget changes, the cumulative rule evaluates the combined effect of all three to determine if additional approval is required.
How to Assign Approvers
Navigate to Budget Change Approvals
Go to your project’s Budget Changes module.
Select Edit Workflow.
Set Approval Limits
For each approver or reviewer, define thresholds using Net, Gross, or Cumulative values.
Choose conditions such as Greater Than or Less Than.
Add Reviewers (Optional)
Reviewer limits can also be configured in the same way as approvers.
Ensure One Approver Has No Limit
At least one approver must have no approval limit to ensure all changes can be processed.
Client Approvals
Client approval settings are now live within the same module (not a separate tab).
Clients can also receive budget changes based on these Net/Gross/Cumulative rules.
Important Notes
This feature only applies to Budget Changes. Other approval workflows remain unchanged.
Approval rules must include at least one approver without limits.
Be mindful when setting Gross vs Net:
Net is for overall budget increases.
Gross is for total transfers between cost codes.
With this setup, you can route approvals more precisely, ensuring budget changes are reviewed by the right stakeholders based on their financial impact.