Overview
The Master Project Budget is your go-to spot for all of your project financials. Use this article to learn how to build your original budget for your project.
Prerequisites
Create the budget and add cost codes.
Process
Build your Original Budget with Flat Values or with Budget Line Items.
If Using Flat Values
A "Flat Value" means you are typing the budget value directly into the cell, similar to typing into a cell in Excel.
Find the cost code you want to add a budget for. Click into the cell in Column A Original Budget for that cost code, and type the budget number.
If Using Budget Line Items
Budget Line Items are individual items that together will give you your estimate or original budget for a cost code. For example, you can use budget line items to build your estimate for a cost code using cost/sq ft, allowances, and more.
To use Budget Line Items, click the calculator icon in Column A for the cost code you are adding a budget for.
Budget Line Items can be templated by your workspace Administrators. A Budget Line Item template is useful if you are consistently preparing your budgets using the same line items and calculations. You can also include unit prices in templates so that the unit prices used across your organization are consistent.
Choose Load from Template or Add New Budget Line. Fill out the description, unit of measure, quantity, and unit price. If you are using a template, some of these items will already be filled out for you.
Tip: If you enter an area in Project Settings, you can automatically pull this area in by choosing the applicable area from the Unit of Measure dropdown.
Choose Save or Save and Update Next.
Changes you make to Column A Original Budget will be tracked in the Budget Timeline.
Save a snapshot of your budget by using Budget Approval Phases. Once you are ready to lock in your budget, submit it for Final Approval.
Additional features coming soon
We are constantly innovating and updating our platform to meet your needs! The following features will be available soon for your use in the Budget:
Budget Templates: You will have the ability to customize and template the variables and columns that are displayed on your budget.
Multi-site: This feature will allow you to track projects with multiple locations and tie that back to the budget.
Slideout View: When this feature is released, you will have the ability to click on a value on the budget and open a slideout view with a list of all of the items associated with that value, including commitments and invoices. This will allow you to get a quick summary of what makes up a value in the Budget/ACR without having to navigate away from the budget page.
Manually Forecasted Values: We will have the option to manually add a forecasted value using the slideout view without having to navigate to another financial module. For example, if you know about a change order but haven't received it yet, you will be able to manually add that amount to the budget as a pending cost without having to fill out a full pending change order.